Why Choose a CFP^®?

One of the biggest misconceptions that consumers face when choosing a financial advisor is to assume that all financial professionals are certified Financial Planners or CFP’s^®. In reality, only the top 5% percent of financial advisors are certified, which means they meet the industry’s highest ethical and professional standards and rigorous education and experience requirements. Working with a CFP^® professional is an important step toward reaching your financial goals.

Education

CFP^® professionals must master nearly 100 integrated financial planning topics including:

• Investments
• Income tax planning
• Retirement planning
• Employee benefits
• Estate planning
• Risk management
• Insurance

In addition to completing a comprehensive financial planning curriculum approved by CFP^® Boar, or equivalent academic coursework, CFP^® professionals are required to complete continuing education coursework, including a CFP^® Board approved coded of ethics course, to ensure their competence in financial planning.

Examination

CFP^® practitioners must pass a comprehensive two day, 10 hour CFP^® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. This rigorous exam has a 56% pass rate.

The exam covers:

• Establishing and defining the Client-Planner relationship
• Gathering information necessary to fulfill the engagement
• Analyzing and evaluating the client’s current financial status
• Developing recommendations
• Communicating recommendations
• Implementing recommendations
• Monitoring the recommendations
• Practicing within professional and regulatory standards

Experience

CFP^® professionals must have a minimum of three years’ experience in the personal financial planning process prior to earing the right to use the CFP^® certification marks. As a result, CFP^® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics

As a final step to certification, CFP^® practitioners agree to abide by a strict code of professional conduct, known as the CFP^® Board’s Code of Ethics and Professional Responsibility that set forth their ethical responsibilities to the public, clients and employer. CFP^® Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.