The Chinese Institute of Certified Financial Planners Introduction
The Chinese Institute of Certified Financial Planners (hereinafter referred to as CICFP) was established as a non-profit organization in 2005. The Chinese Institute of Certified Financial Planners Co., Ltd. was established in 2008 for the convenience of the corporatization of operation. CICFP consists of membership department, secretariat in Beijing, China, committee of experts, examination management office, textbook compilation committee, occupational competency evaluation committee, committee of financial planning for banks, committee of financial planning for insurances, committee of financial planning for securities, committee of financial planning for funds, taxation planning committee as well as international affairs committee (The financial planner committee and the practising committee will be established in 2010). CICFP has 29 authorized organizations in Mainland China, Hong Kong Special Administrative Region, Taiwan Special Administrative Region, Singapore and so on. These authorized organizations provide many kinds of service for CICFP members, such as professional training, certification, follow-up education and giving professional speech.
There were only 3 founding members without any official background or institutional sponsorship when CICFP was originally established in 2005. However, now CICFP has grown into a financial planning institute having 32,000 members with about 5 years of development. These members are distributed in various institutions, such as banks, insurance companies, securities institutions, investment companies, financial planning companies, futures companies, trust companies, finance companies, public accounting firms, certified tax agents, law firms. Among those members, the members in banks and insurance firms respectively account for 60% and 20% of the total number of CICFP members. At present, as the largest financial planning institute in China, CICFP has established 29 member service centers to provide one-to-one service all over China. It’s estimated that the number of member service centers will increase to more than 50 at the end of 2010.
When CICFP was originally established, it only had a set of occupational standards for financial planners developed by CICFP itself. There aren’t any textbooks. The teaching materials written by other universities are used in the class. As a result, at that time, all insiders thought that CICFP wouldn’t survive longer than one year and media regarded CICFP as “a grass-root institute”. Now CICFP has developed 12 sets of textbooks with proprietary intellectual property rights. All the textbooks will be revised before 2010. CICFP holds training courses for authorized teachers every year. Only those who pass our appraisal are qualified for teaching CICFP courses. 50% of trainees have become the backbones for financial planning in financial institutions after they receive our training. Now the industry and media are all surprised at the fact that the “grass-root institute” has cultivated financial planning elites and become presentable.
CICFP attaches great importance to the construction of its own brand and intellectual property rights. It has applied for the patents for all its membership certificates and qualification certificates. It has registered trademarks for the names of all educational courses. At present, its educational trademarks and brands include AFP (Assistant Financial Planner), CFP (Certified Financial Planner) and ICFP（International Certified Financial Planner).
The Chinese Institute of Certified Financial Planners