What Does it Take to Be a Certified Financial Planner?

The Certified Financial Planner (CFP) designation is an educational certification mark for financial experts who have been awarded the designation by the Certified Financial Planner Board of Standards, Inc. in the United States. The CFP Board is a non-profit membership organization that sets high standards of ethical and professional behavior in the planning and provision of financial services. All CFP members are required to take an approved continuing education training (CE) each year to maintain their membership status. Completion of these CEs enables CFP participants to meet current ethical and professionalism standards, as well as to enhance their knowledge of new topics within the CFP profession.

Candidates wishing to apply for the Certified Financial Planner (CFP) designation must first complete all the requirements needed to become a CFP by the CFP Board. Once a candidate has met all of those requirements, he or she may begin the process of becoming certified by passing the CFP examination. Candidates wishing to be eligible for CFP certification should complete the CFP examination and have a Bachelors degree in a related field from an accredited university or college, or have a high school diploma.

A CFP must pass four written examinations in order to be certified by the CFP Board. These written examinations include: The Certified Financial Planner Examination, the Registered Financial Planning Practice Test, the National Council for Certifying Agencies Compensation Scholarship Test, and the International Financial Planning Association Test. To enhance his or her chances of passing the CFP exam, a certified financial planner charlotte nc should also complete one or more experience tests, as well as a management course or a practicum for one or two years.

It is important for CFP candidates to realize that in addition to having a bachelor’s degree in finance, they should also possess additional credentials, such as a master’s degree in business, accounting, or any other discipline. A candidate who has successfully earned a Bachelor’s degree and is seeking certification will need to complete a minimum of six years of education and experience in financial planning.