| Certified Financial Planner |
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| professional certification in finance | |
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The Certified Financial Planner (CFP®) designation is a certification mark for financial planners conferred by the Certified Financial Planner Board of Standards. To receive authorization to use the designation, the candidate must meet education, examination, experience and ethics requirements, and pay an ongoing certification fee. "Steps to Initial CFP® certification" , CFP.net EDUCATION REQUIREMENTS For the first 30 plus years, a high school education and some insurance sales, financial or broker experience was a requirement for certification. Now, a college education and degree will be required beginning in 2007 or maybe 2008 . As a first step to the present CFP® certification criteria, students must master[http://www.cfp.net/become/education.asp "The Education Requirement" , CFP.net a list of 89 topics on integrated financial planning. "Financial Planning Topic List" , CFP.net The topics cover major planning areas such as:
Beginning in 2007 , students will be required to have at least a Bachelor's Degree in any discipline from a regionally accredited U.S. college or university in order to become eligible for initial certification. "The Education Requirement" , CFP.net International degrees may be substituted for a U.S. undergraduate degree if they receive equivalency from a third-party organization such as the Worldwide Educational Services. "Worldwide Educational Services" , WES.org CFP® CERTIFICATION EXAMINATION The CFP® Certification Examination is a 10-hour multiple choice exam, divided into one four-hour session (Friday afternoon) and two three-hour sessions (Saturday). The exam includes three major case problems and is designed to assess the student's ability to apply his or her financial planning education to financial planning situations. "CFP® certification exam" , CFP.net Individuals holding professional designations pre-approved by the CFP Board (like PhD s in business and Economics , Lawyer s, CLUs, ChFCs, Certified Public Accountant s (CPA), Chartered Certified Accountant s (ACCA), Chartered Accountant s (CA), Chartered Wealth Manager s (AAFM) ), and Chartered Financial Analyst s (CFA) could register and sit for the exam without having to complete the education requirements by using the CFP-board's ''challenge'' status. WORK EXPERIENCE The CFP Board defines work experience as "the supervision, direct support, teaching or personal delivery of all or part of the personal financial planning process to a client" "Work Experience" , CFP.net and such experience must fall within one or more of the following six primary elements of financial planning:
Even after the student passes the exam and meets one or more of the six primary elements of financial planning, he or she must also have completed the following:
ETHICS The final component is the ethics requirements. "Ethics Requirements for CFPs" , CFP.net Students and certificants are required to adhere to the CFP Board Code of Ethics and Professional Responsibility and to the Financial Planning Practice Standards. The CFP Board has the right to enforce them through its Disciplinary Rules and Procedures. EXTERNAL LINKS
REFERENCES # Steps to Initial CFP® certification # The Education Requirement # Financial Planning Topic List # The Education Requirement # Worldwide Educational Services # CFP Board Registered Education Program # Review Program for the CFP® Certification Examination # CFP® certification exam # Work Experience # Ethics Requirements for CFPs RELATED DESIGNATIONS
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