Working with a CFP® professional is an important first step toward reaching your financial goals. These advisors meet rigorous education and experience requirements, and they are held to a highest ethical and professional standards in the industry.
How Can Working with a CFP® Benefit You?
Decisions about choosing a financial planner that is right for you can be overwhelming. As more people call themselves "financial planners," finding the right professional to address your financial planning needs isn't always easy. Often, there are many advisors to choose from in a very small area, which can be overwhelming. As a fiduciary, a CFP® focuses on providing clients comprehensive financial planning services catered to their specific needs with the clients best interest in mind. One must look for a financial planner who will put you and your needs at the center of every financial planning engagement.
What are the Certification Requirements of a CFP®
CFP® professionals must master the 72 Principal Knowledge Topics under the categories below, as well as a comprehensive planning capstone course.
- Investment Planning
- Tax Planning
- Retirement Planning
- Estate Planning
- Insurance Planning
- Financial Management
- Education Planning
In addition to completing a comprehensive financial planning curriculum approved by CFP board, candidates for CFP® certification must have a bachelor's degree (or higher) in any discipline to become certified. Once certified, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved ethics course, to ensure their competence in financial planning.
Candidates for CFP® certification must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The CFP® exam measures the candidates critical thinking and problem-solving ability, with less emphasis on factual recall or recognition. The exam does not test textbook theories; rather, it assesses the candidate's ability to apply financial planning knowledge in an integrated approach to real-life financial planning situations
CFP® professionals must complete thousands of hours of professional experience related to the financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess practical experience, in addition to financial planning knowledge.
As a final step to certification, candidates must satisfy CFP Board's Fitness Standards and agree to abide by a strict code of professional conduct, known as CFP Board's Code of Ethics and Standards of Conduct, that sets forth their ethical responsibilities to the public, clients, and employers.
Planning your finances is an important step toward financial freedom. Finding the right financial professional is just as important. When trying to find the right financial planner, look for a measure of the planner's commitment to ethical behavior and adherence to high professional standards. Look for a financial planner who will you and your needs at the center of every financial planning engagement.
If you’re ready to take control of your finances and set goals for your future with a CFP® professional, call us today at (913) 322-3500.
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