Career as a Certified Financial Planner(CFP)

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A Certified Financial Planner is a person possessing professional certificate which is bestowed by Certified Financial Planner Board of Standards(CFP Board). Those candidates who have fulfilled the certification as well as renewal requirements of CFP Board are eligible to display the CFP certification marks. In turn it is said to represent a high level competency, conduct & expertise.

Eligibility Criteria for CFP:

A Bachelor’s Degree in any discipline. Candidates are expected to have knowledge on nearly 100 topics on integrated financial planning. The main topics are :

  • General Principles of Finance & Financial Planning
  • Insurance Planning
  • Employee benefits planning
  • Investments & securities planning
  • State & Federal income tax planning
  • Estate tax, gift tax & transfer tax planning
  • Asset protection planning
  • Retirement Planning
  • Estate Planning
  • Financial Planning & consulting

CFP Exam covers:

In order to become CFP professionals, candidate needs to clear exam, which assess their financial planning knowledge. It also covers, the financial planning process, tax planning, employee benefits & retirement planning, estate planning, investment management & insurance . The average rate to clear this exam is as low as 56%.

Experience in CFP:

A Certified Financial Planner is require to have a minimum of three years experience in the due course of financial planning process ahead of earning the right to use CFP certification marks. On account of this First hand experience, one can rely on Certified Financial Planners to help one create a realistic financial plan.

Ethics of CFP:

CFP Professionals stand by the core principles of integrity, objectivity, competence, fairness, confidentiality, professionalism as well as vigor. CFP Professionals are responsible to CFP Board  in case they happen to violate any of these principles.

Types of CFP Professionals/Advisors:

Listed below are few types of financial advisors:

  1. Accountant
  2. Attorney
  3. Estate Planner
  4. Insurance Agent
  5. Investment Advisor
  6. Stockbroker

Need for a Certified Financial Planner:

When one feels, that the business/finance  is whirling, out of control, one can hire the services of a Certified Financial Planner. Financial Planning is a lot more than just investing.

Selecting a Certified Financial Planner:

In order to find a perfect financial planner for yourself, one must look before hiring  a CFP. Here are a few tips on how you can select the best CFP:

  1. What experience do you have?
  2. What are your qualifications?
  3. What financial planning services do you offer?
  4. What is your approach to financial planning?
  5. With which type of clients do you normally work with?
  6. How am I supposed to pay for your financial planning services?
  7. How much do you usually charge?
  8. Do others tend to gain from the financial advice you give me?
  9. Have you been charged for any unlawful or unethical actions in your career till date?

On asking the above questions, one can take a cue on selecting the correct Certified Financial Planner for him/herself.

For an in-depth knowledge about the subject, eligibility, admission fees etc one can visit the website 

The market is flooded with various financial products & services, & with the dearth of financial planners, the need for Certified Financial Planners is extensively felt. Advisory services are in huge demand. Thus, considering CFP as a professional career  is an attractive & highly productive choice made.

Please feel free to share your views & thoughts on the matter.

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