CFP® FAQ's

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What is a “CFP®”?
 
 A CERTIFIED FINANCIAL PLANNER™ professional is an individual who has met the rigorous education, examination, experience and ethics requirements set forth by the Certified Financial Planner Board of Standards, Inc.

Education - A Financial Advisor with the CFP® certification has completed training on nearly 100 integrated financial topics, including:  General principles of financial strategies; insurance planning and risk management; employee benefits planning; retirement and estate planning.

In addition to finishing the coursework on financial topics, the candidate is required to earn a bachelor's degree (or higher) or its equivalent, in any discipline, form an accredited college or university.  must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by the CFP Board.

Examination - CFP® certificants must pass a comprehensive 10-hour CFP® Certification Examination that tests their knowledge, comprehension, application, analysis and synthesis of financial topics specified by the CFP® Board. 

Experience - The CFP® Board also requires that, to fulfill the CFP® certification, a candidate must have sufficient work experience within one or more of the following six elements of financial services:  Establishing and defining the relationship with the client; gathering client data, including goals; analyzing and evaluating the client's financial status; developing and presenting financial recommendations and/or alternatives; implementing the financial recommendations; monitoring the financial recommendations.

Ethics - CFP® certification requires that a candidate agree to adhere to the CFP Board’s Code of Ethics and Professional Responsibility and to Financial Planning Practice Standards.  A CFP®  professional must also acknowledge the CFP Board's right to enforce this code of ethics and practice standards.

 

Excerpts from CAR 1214-01862