CFP® Certification

What is a CERTIFIED FINANCIAL PLANNER™ 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

What is a CERTIFIED FINANCIAL PLANNER Professional?

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. See below for more details.

CFP Board Registered Programs

• Kaplan University - Through web-based instruction, Kaplan University is able to deliver courses that are accessible, practical, convenient, and affordable. The Certificate in Financial Planning program is comprised of six courses, each with 10 lessons and quizzes. Students take one examination at the end of each course and complete the courses at their own pace—typically 12-18 months. Students engage in web-based learning activities including quizzes, an online message board, and web field trips to increase retention and comprehension. Instructors are available via an internal email messaging system and message boards. Student services are available via email, live chat, and phone. For more information, call 1-866-458-2007; infofp@kaplancollege.edu.
• Sacred Heart University - Stamford Campus and Shelton: The Registered Paraplanner(SM) designation is a valued credential to clients and the financial planning industry at large.  It enables students to gain basic, practical knowledge of the financial planning process and the five disciplines of financial planning. The program consists of 12 weeks of coursework and a three month internship.  Individuals new to the financial services industry, sales assistants, and frontline personnel who may be employed in banks, insurance firms, law offices, or brokerage firms would be ideal candidates.  Spring classes run from Wednesday, January 24 - April 11 from 6:00 - 9:00 pm at both sites. For more information visit http://www.sacredheart.edu/content.cfm or contact Mary Lou DeRosa at derosam@sacredheart.edu or 203-396-8321.
• Fairfield University - Financial Planning Certificate Program was developed to help students gain both the practical experience and the technical skills needed for professional competence as a financial planner and was specifically created for people working in the areas of financial planning, insurance, banking, investments, accounting and law, as well as other professionals interested in learning more about the financial planning process. Outstanding faculty drawn from area private practices and major financial institutions bring real-world experience to the classroom. Evening course begins September 11 (one night a week for ten weeks from 6:30 to 9:30 pm). Fairfield University Certificate in Financial Planning upon successful completion of the program. Licensed Connecticut Insurance Producers earn 30 CE Credits for successfully completing the Insurance Planning and Risk Management class. The Fairfield University program has been registered with the CFP Board of Standards Inc. as acceptable education for the CFP® Certification Examination. Students who complete the six-course program are eligible to take the two-day CFP® Certification Examination. For information regarding course content or financial planning as a career path, contact: Alexander B. Williams, CFP®, at 203-743-6923 (awilliamsdfg@yahoo.com). For complete course descriptions and to register, contact: Deb Matthews at 203-254-4000 x2910 (dmatthews@mail.fairfield.edu) or visit www.fairfield.edu/.

Links to CFP Review Courses

• Sacred Heart University - Stamford Campus: Classes for the Financial Planning Certificate Program through the Center for Financial Education at Sacred Heart University will be offered at the Stamford Campus and in Shelton. The five courses will satisfy the education component of the Certified Financial Planning Board of Standards. SHU has reached out to an experienced faculty of CFP professionals, MBAs, CPAs, and JDs. Students gain both a thorough understanding of the course content and real life applications in preparation for the CFP Certification Examination. Two different classes - Investment Planning and Financial Planning Process & Insurance - will be offered on Thursday evenings from January 11 - April 12, at 6:00 - 9:30 pm. For more information visit http://www.sacredheart.edu/content.cfm or contact Mary Lou DeRosa at derosam@sacredheart.edu or 203-396-8321.
• Sacred Heart University - Shelton: Classes for the Financial Planning Certificate Program through the Center for Financial Education at Sacred Heart University will be offered at the Stamford Campus and in Shelton. There are five courses in the program; each class will meet once a week for 12 weeks on Thursday evenings from January 11 - April 12, at 6:00 - 9:30 pm. For more information visit http://www.sacredheart.edu/cfe.cfm or contact Mary Lou DeRosa at derosam@sacredheart.edu or 203-396-8321.
• Kaplan Financial’s Accelerated Certificate in Financial Planning: This innovative program is a combination of self-study and classroom instruction that provides learners the educational foundation to sit for the CFP® Certification Examination in just nine months! Call 1-888-694-3568 for more information or to get started today.  Kaplan's program gives learners the flexibility to choose the delivery format that best matches their learning style preference and schedule: Traditional classroom programs or Virtual classroom programs (public and private programs available).
• Online Review Course, Kaplan University: For students who have completed Kaplan University's Certificate in Financial Planning, this course provides an extensive review of the concepts covered in our six-course program. This self-study option proceeds through the topics listed by the CFP Board, beginning with a detailed outline of each topic to highlight key aspects of the material and concluding with review questions that will help you assess your mastery of each topic.  For more information, call 1-800-806-2705.
• Fairfield University’s CFP® Review Course: For students who have completed the Financial Planning Certificate program and want to sit for the CFP® Certification Exam. The course provides a comprehensive review of the seven core subject areas using Keir Educational Resource* materials. Instructors are financial planning experts who teach-to-the-test to help students achieve the CFP® professional designation. Fairfield University’s Fall 2006 CFP® Live Review Course is given over two weekends: October 7, 6, 8 and October 20, 21, 22 Fridays, Noon to 7:00 pm; Saturdays, 9:00 am-3:00 pm; Sundays, 9:00 am-1:00 pm. Register by 9/15/06 and save $150 off tuition. For information regarding course content or financial planning as a career path, contact: Alexander B. Williams, CFP®, at 203-743-6923 (awilliamsdfg@yahoo.com). For details regarding tuition and registration, contact: Deb Matthews at 203-254-4000 x2910 (dmatthews@mail.fairfield.edu) or visit www.fairfield.edu/. *Keir Educational Resources extends a guarantee to all students who purchase the complete review package (cost included in tuition) who meet eligibility requirements. For details, visit Keir’s website at www.keirsuccess.com.
• 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.
• College for Financial Planning offers FPA members its CERTIFIED FINANCIAL PLANNER Professional Education Program at $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).