What is the AWP^CM certification?

The letters "AWP^CM" stand for Associate Wealth Planner^CM. The AWP^CM mark is a professional designation that is awarded to students who have successfully completed Module 1 (Foundations In Financial Planning), Module 4 (Investment Planning) & Module 5 (Retirement Planning) of the CFP^® Education Program. It is a mid-level professional certification for practitioners with key portfolios in retirement planning and wealth accumulation in addition to their capability to recommend general financial planning strategies.

What is the difference between the AFP^CM, AWP^CM and CFP^®Program?

The AFP^CM Program is not a separate program but rather the first module of six course modules comprising the CFP^® Program, i.e. Foundations in Financial Planning. It is a broad-based module touching on all aspects related to personal financial planning that form the foundation of a working financial advisor. Individuals who have attained the AFP^CM certification have been thoroughly trained and are competent to recommend general financial planning strategies and to advise on the appropriate selection and use of various financial products.

The AWP^CM Program consists of Modules 1, 4 and 5 of the CFP^® Program. It is a mid-level professional certification for practitioners with key portfolios in retirement planning and wealth accumulation in addition to their capability to recommend general financial planning strategies.

The CFP^® Program is an in-depth curriculum that provides a broad-based and comprehensive foundation in financial planning. It is the most internationally recognized designation for a financial planner. You will gain technical knowledge in all relevant areas and be well equipped to write comprehensive financial plans to international standards. CFP^® practitioners are dedicated to the highest level of professionalism.

Financial planners who are CFP^® practitioners are highly sought after for their advice as the credential assures the public that they have agreed to adhere to high standards of competence and ethical practice. The strength of the CFP^® certification lies in the fact that it is a broad-based qualification, independent of any one industry, and therefore CFP^® practitioners are acknowledged to be objective professionals.

How do I obtain the AWP^CM certification?

The individual must be a FPAS member who has completed the CFP^® Certification Program Modules 1, 4 and 5 (Foundations in Financial Planning, Investment Planning and Retirement Planning respectively).

If you have already completed the AFP^CM Program, you will only need to complete the remaining Module 4 & Module 5 papers.

The AWP^CM license does not impose minimum working experience.

Why are Modules 1,4 and 5 the prerequisites?

Being an intermediate designation catering to the Singaporean heartlanders, the AWP^CM practitioners need to possess knowledge on the fundamentals of financial planning with emphasis and depth in areas of investments and retirement planning.

What are the benefits of becoming an AWP^CM practitioner?

You will be competent to recommend general financial planning strategies and have key portfolios in retirement planning and wealth accumulation.

This mid-level designation will lead you one step closer to complete the CFP^® Certification Program if you are working towards attaining the prestigious globally recognized CFPCM mark.

Individuals will also be included in FPAS’ Directory of AWP^CM practitioners and you may therefore, identify yourself to the public as an AWP^CM practitioner.

Why AWP^CM practitioners are needed and is there a rising demand for them?

Many Singaporeans may only have a need for general financial advice but may require specialist advice related to retirement issues and investments. As the responsibility for meeting life goals and planning for retirement increasingly shifts from government and employers to the individual themselves, so too the rising need for trustworthy and fully qualified professionals that consumers can go to for advice on retirement plans, wealth accumulation and preservation strategies and products.

Can a Student register for the three modules in one examination sitting?

New entrants into the CFP^® Certification Program are allowed to attempt up to 3 new modules, where Module 1 is compulsory.

The exams will be held in April, July and October each year. If a student fails an exam paper, he may choose to re-sit for the examination again in the following semester. The student may also attempt new additional papers in the following semester whilst taking the re-sit paper.  There is no limit on the number of attempts for the examinations but you will be required to complete the CFP^® Program within 7 years according to FPAS regulations.

What are the Continuing Professional Development (CPD) requirements for an AWP^CM practitioner?

The AWP^CM practitioner is required to attend 20 CPD hours within each 2-year reporting period. Inclusive of this would be attendance to FPAS Code of ethics and Professional Standards Workshop.

Upon expiry of the AFP^CM certification, the AWP^CM certification and its attending CPD requirement will set in, i.e., if your AFP^CM reporting period is up on 31st Dec 08 and you successfully apply to be AWP^CM on 1st July 08, the 20 CPD hours requirement is applicable for the reporting period of 1st Jan 09 – 31st Dec 10.