Working with a Certified Financial Planner is an important step toward reaching your financial goals. In addition to meeting rigorous education and experience requirements, they are also held to the highest ethical and professional standards in the industry – these include:
Certified Financial Planners must master nearly 100 integrated financial planning topics, ranging from:
• Income tax planning
• Retirement planning
• Employee benefits
• Estate planning
• Risk management
• and Insurance
In addition to completing a comprehensive financial planning curriculum approved by CFP Board or equivalent academic coursework, Certified Financial Planners are required to complete continuing education coursework, including a CFP Board- approved code of ethics course, to ensure their competence in financial planning. Watch the video below to learn more about what these Certified Financial Planning professionals have to say about their experience, commitment, and knowledge as CFP’s and how they help their clients.
Certified Financial Planners must pass a comprehensive two- day, 10-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, 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
Certified Financial Planners must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, Certified Financial Planners possess financial counseling skills in addition to financial planning knowledge.
As a final step to certification, Certified Financial Planner must agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients, and employers. The 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.