This domain is for sale! Contact

Certified Financial Planners (CFPs) are professional financial planners with a special designation conferred by the Certified Financial Planner Board of Standards (CFP Board) in the USA. To become a certified financial planner, the candidate must requirements in education, examination, experience and ethics, as well as pay an ongoing certification fee.

Education requirements

To earn the CFP Board designation, candidates must meet several requirements -- the first of which is the educational requirement, which requires candidates to have a bachelor's degree (or higher), or its equivalent in any discipline, from an accredited college or university. The bachelor's degree requirement may be completed after passing the CFP exam (within five years) and is not a requirement to be eligible to take the CFP Board Certification Examination. As a first step to the present CFP certification criteria, students must master a list of nearly 100 topics on integrated financial planning. The curriculum taught must be the equivalent of 18 semester credit hours (e.g. 6 courses). The topics cover major planning areas such as:

Individuals holding professional designations pre-approved by the CFP Board (such as PhDs in business and economics, attorneys, Certified Public Accountants (CPA), Chartered Certified Accountants (ACCA), Chartered Accountants (CA), Chartered Wealth Managers (AAFM), Chartered Life Underwriters (CLU), Chartered Financial Consultants (ChFC), and Chartered Financial Analysts (CFA)) are entitled to register for and take the exam without having to complete the education requirements by using the CFP-board's "challenge" status. Notably, individuals who seek to challenge the CFP certification exam after March 2012 will be required to take a financial planning Capstone course before sitting for the exam.

International degrees may be substituted for a U.S. degree if they receive equivalency from a third-party organization. The CFP Board began requiring a college education in 2008. In the early years for the first 25,000 CFP members, candidates could take the 5 courses and achieve certification without a comprehensive exam. In 1991 a comprehensive exam became required for new students.

In recent press, the CFP Board and other organizations have communicated with the CFPB Consumer Financial Protection Bureau to augment accredited degree standards and ranking of professional designations.

Adapted from Text is available under the Creative Commons Attribution-ShareAlike License