CFP® Certification

What is a CERTIFIED FINANCIAL PLANNER^TM Professional?
Why FPA Supports the CFP® Designation
Requirements for Becoming a CERTIFIED FINANCIAL PLANNER
FPA Helps Members Earn CFP Mark
CFP Board Registered Programs
Links to CFP Review Courses

The CERTIFIED FINANCIAL PLANNER professional is a member of a distinguished profession dedicated to serving the financial needs of individuals, families and businesses. CERTIFIED FINANCIAL PLANNER is far more than a title, it is precise definition of a person’s competence, experience, and intelligence in the complex profession of financial planning. Not every person who is described as a financial planner is a CFP Licensee; to earn this title the financial planner has demonstrated competence in analyzing and developing personal and business financial plans through the successful completion of a series of rigorous financial planning examinations.

The CFP professional’s area of expertise is in analyzing needs and prudently arranging overall financial plans rather than in promoting individual financial products. In carrying out this task, one CFP certificant may be more knowledgeable in a particular field than another and therefore recognizes the need to consult with qualified individuals in other specialties and in those areas traditionally and legally set aside for others.

Why FPA Supports the CFP Designation

By recommending one designation, we can accelerate public recognition and acceptance of financial planning by promulgating one recognized and credible mark. Consumers need a way to identify a competent, ethical financial planner. The CFP marks is that 'way' -- it represents the standards of education and ethics consumers should be able to expect from a financial planner.

Shown below are three inspirational articles on what it means to be a CFP certificant. The first was published in the January 1990 issue of the Journal of Financial Planning, the second was published in the July 2000 issue of the Journal, and the third is based on an FPA Residency session in 2000 with five individuals who shared their perspective of what financial planning has meant to them, the history they have witnessed, and what they see ahead for the profession.

• "To Think…Like a CFP® Professional," by Richard B. Wagner, J.D., CFP®
• "To Feel…Like A CFP® Professional," by Elissa Buie, CFP® , 2000 FPA Chair
• "CFP® Civics: Nurturing a Profession"

Requirements for Becoming a CERTIFIED FINANCIAL PLANNER
(How Do You Attain Your CFP Certification? PDF - requires Acrobat Reader)

1. Complete the education requirement. You can fulfill the education requirement through one of three paths: Complete a CFP Board-Registered Education Program; Apply for Challenge Status; Request a Transcript Review. There is a model curriculum of more than 100 topics, which must be tested and mastered in order to sit for the Certification Examination. The educational topics include: The Process of Financial Planning, Insurance Planning, Investment Planning, Income Tax Planning. Retirement and Employee Benefits Planning and Estate Planning.
2. Pass the CFP Certification Examination. The CFP exam tests your ability to apply your financial planning knowledge to client situations. The 10 hour exam is divided into three separate sessions. Because of the integrated nature of financial planning, however, each session may cover all topics. All questions are multiple choice, including those questions related to case problems. The examination is administered three times a year - generally on the third Friday and Saturday of March, July, November - at about 45 domestic locations. The application deadline is approximately seven weeks prior to each examination date(e.g. February 1, June 1, and October 1). Application forms can be downloaded at www.CFP-Board.org or mailed to you if you call 1-800-487-1497. Completed applications, including the payment of the $595 fee, must be received by the deadlines printed on the applications - there are no exceptions.
3. Meet the Experience Requirement. At least three years of qualifying full-time work experience are required for certification. Qualifying experience includes work that can be categorized into one of the six primary elements of the personal financial planning process.
4. Adhere to the Code of Ethics and Professional Responsibility and Pass Background Check. After you have met the education, examination and work experience requirements you must disclose past or pending litigation or agency proceedings and agree to abide by the CFP Board’s Code of Ethics and Professional Responsibility and Financial Planning Practice Standards. A background check will also be conducted. If you have any questions about the affect of any past or pending action on your authorization to use the marks, you should contact CFP Board legal counsel directly at (303) 830-7500.
5. Pay Certification Fees. Upon successfully completing the first three steps, fees will apply as follows: A one-time, non-refundable initial certification application fee of $100 for the background checks as noted above and a biennial certification fee of $300.
6. Receive Authorization to use the CFP, CERTIFIED FINANCIAL PLANNER , and marks.
7. Continuing Educational Requirements: It is also necessary for every CFP certificant, once certified, to get re-certification every two years. Those seeking to maintain their certification must attain a minimum of 30 hours of continuing education, in order to stay current with developments in the financial planning profession to better serve their clients. Two of these hours must be spent studying the CFP Board's Code of Ethics and Professional Responsibility or Financial Planning Practice Standards.

FPA Helps Members Earn CFP Certification

FPA has created three exceptional opportunities to help members attain the hallmark of financial planning - CERTIFIED FINANCIAL PLANNER certification:

• Free Assessment Tests. Evaluate your strengths and weaknesses and determine where you need to spend time studying for the CFP Certification Examination - and do it online! Dalton Publications' Diagnostic Exam and Keir Educational Resources' Preliminary Assessment of Certification Exam Readiness (PACER) are now available at no cost to FPA members.
• CFP Certification Review Materials at Reduced Prices. Get ready for the CFP Certification Examination. Take advantage of Keir and Dalton's highly effective review materials - both at discounted prices for FPA members.
• Reduced Pricing for Financial Planning Education Programs for FPA Members through the College for Financial Planning and Kaplan University.

CFP Board Registered Programs

• College for Financial Planning offers FPA members its CERTIFIED FINANCIAL PLANNER Professional Education Program is $1,950, a 15 percent discount off its regular price of $2,295. This price includes the printed study materials, a CD-ROM and online access. The study materials are also available in CD-ROM and online only versions. The required textbooks may be purchased separately for an additional charge through Specialty Books (or other vendors).
• Kaplan University - The Financial Planning Association together with Dearborn Financial Services and Kaplan College have partnered to offer an Online CFP Board-Registered Program that completely satisfies the education requirement for the CFP Certification Examination. Kaplan College's program consists of six courses and an Online Review with a simulation of the CFP Certification Examination and combines traditional textbook readings with online assignments. Contact Kaplan College directly at 866-458-2007 to address specific questions about the programs or Mr. Keith Fevurly, 1801 East Kimberly Road, Suite 1, Davenport, Iowa 52807; 866-523-3473; infofp@kaplancollege.edu.
• Iowa State University’s Family Financial Planning program is a CFP Board registered program that meets the educational requirement to become a CERTIFIED FINANCIAL PLANNER.  The online program is a part of the Great Plains Interactive Distance Education Alliance (GP-IDEA) and gives students two options  – a graduate certificate or a master’s degree.
• Iowa State University’s MBA program gives students the opportunity to use 12 credit hours of coursework in Family Financial Planning as an MBA specialization.  By adding another 6 credits to their total program, MBA candidates are able to complete the 18-credit Graduate Certificate in Family Financial Planning along with their MBA.
• Links to other CFP Board registered programs

Links to CFP Review Courses

The CFP Board maintains a list of review courses, offered by independent firms, designed to assist individuals in preparing for the CFP Certification Examination. A current list of review course providers is available. The CFP Board neither evaluates the quality of the review courses nor endorses any program.