What Is Certified Financial Planner Certification Or CFP?The job of a financial planner comes with a large baggage of responsibility. So it is must to become a certified financial planner to perform the job sincerely. This CFP certification or certified financial planner certification is given by the Certified Financial Planner Board of Standards. This certification is highly recognized, respected and demanded by the clients these days. Earning the certified financial planning certification is not a very difficult job. To earn the certification, you just need to meet certain initial certification requirements with regards to education, examination, experience and ethics. You can fulfill the educational requirements by attending any of the 300 academic programs at various colleges and universities across the country. You can attend the credit as well as non-credit certificate programs, undergraduate and graduate degree programs. Also you need to have a bachelor's degree or its equivalent in any discipline from an accredited college or university to take the CFP examination. You have to clear the CFP examination. The examination is designed to test your ability in applying your knowledge of financial planning to different situations faced by a client. The entire duration of the exam is 10-hours. However it is divided into three separate sessions. However due to the integrated nature of financial planning, in each of the sessions you may get question concerning all topics. All the questions are multiple choice questions, including the ones related to case problems. You also need to have a considerable work experience. It should be at least three years of full-time work experience. You can earn the required experience by delivering a complete or a part of a financial service to a client. Also you can provide direct support or supervision to a person who provides personal financial planning services to a client. Also you can gain the experience by teaching the personal financial planning process. Once you meet the prerequisites of education, exams and work experience, you need to fulfill the ethical requirements. You have to disclose any past or pending litigation or agency proceedings. You will be subjected to a background check to verify your claims. Also you have to agree to abide by the CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards. You have to submit a fee to the Certified Financial Planner Board of Standards. It includes a one-time, initial certification application fee of $100 which is entirely non-refundable. This fee is used for performing background checks. Also you have to pay a biennial certification fee of $360. After you fulfill the educational, examination, experience and ethical requirements and submit the fee, you are granted with a certified financial planner certification and the authorization to use it. Financial Planner Career >> Privacy Policy >> Contact >> Legal Disclaimer |