Our Hope for an Evolving Industry

 

You may have a false impression that all financial planners are “certified,” however, this is not true. Did you know nearly anyone with the appropriate licenses can use the title “financial planner,” but only those who have fulfilled the CFP Board’s strenuous requirements may use the CFP® mark? A CERTIFIED FINANCIAL PLANNER™ must meet requirements in education, examination, experience, and ethics.

What are those requirements?

  • A CFP® must hold a bachelor’s degree from an accredited college.
  • They must complete a CFP® Board-registered education program.
  • They must pass the ten hour CFP® certification exam (yes, you read that right. TEN HOUR EXAM).
  • They must have three years of qualifying full-time work experience in financial planning.
  • And, lastly, they must pass a professional fitness standards and background check.

In addition to these requirements, the Rules of Conduct require CFP® professionals to put your interests ahead of their own at all times and to provide their financial planning services as a “fiduciary”—acting in the best interest of their financial planning clients. CFP® professionals are subject to CFP Board sanctions if they violate these standards.

While you may find an expert in one field or another within the financial industry, a CFP® professional is trained to help you develop and implement a comprehensive financial plan. This means that they have the expertise to assist in all areas of your financial plan.

We hope as the financial industry continues to grow and evolve that we will see an increase in the number of CFP® professionals out there. We can’t think of many other things that would benefit our industry more.

 

 

 

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