What Is a CFP: The Certified Financial Planner (CFP) designation is a valuable credential that indicates that you have expertise in developing financial plans for individuals.
Earning a CFP: First, there is an educational requirement, satisfied by a variety of academic degrees and professional certifications. Alternatively, you must attend a CFP-approved program of classroom education.
Second, you must pass a 10-hour exam. The test measures your ability to apply financial planning principles to real client problems. You have the option of independent study or enrolling in a CFP review course. The CFP Board does not evaluate or endorse specific review courses.
Third, you need three years of qualifying full-time work experience in the financial planning field.
Fourth, you must pass a background check and pledge to follow a professional code of ethics.
Why Get a CFP: The CFP is demanded by major employers for senior positions in Financial Planning. It also can be required for certain Financial Advisor roles. Even where it is not necessary, it is a prestige credential that enhances your worth and credibility as a financial professional.
For more information: See the CFP Board of Standards website.
