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CERTIFIED FINANCIAL PLANNER™ Professional
helps individuals determine whether
and how they can meet their life
goals through the management of
financial resources. To do this
a CERTIFIED FINANCIAL PLANNER™ Professional
analyzes where the individual is
financially, where they want to
go, and how do they get there.
In most cases a CERTIFIED FINANCIAL
PLANNER™ Professional analysis and
recommendations are provided in
a written financial plan. The CFP®
oftentimes coordinates the implementation
and monitoring of the plan.
Income is generally fee-based.
The
Exam
The CERTIFIED FINANCIAL PLANNER™
Certification exam format is
determined by the CFP®
Board of Standards. The exam
is given over a two-day period,
Friday and Saturday, for a total
of 10 hours. The CFP®
exam is a rigorous exam that
tests knowledge and application.
There are currently 106 job
knowledge requirements specified
by the Board of Standards --
and these topics are tested
on in the CFP®
exam.
You must contact the CFP®
Board of Standards at (800)
487-1497 to register for the
exam. The purchase of study
materials does not register
you for the exam.
To receive a list of CFP®
study materials providers please
click here.
Series
7, 63, and 65 Exams
Many CERTIFIED FINANCIAL PLANNER™
Professionals affiliate with
FINRA member firms (i.e., brokerage
houses) and become Registered
Representatives (i.e., "stockbroker").
This allows the CFP®
to receive commissions on the
securities they buy or sell
on behalf of their clients.
Accordingly, they go on to take
the FINRA
Series 7 and
Series 63 exams.
A CFP®
may form their own
Registered Investment Advisor
(RIA) firms. In this instance
they charge a fee (hourly or
percentage of assets under management)
for their advice and are required
to register with their state
securities commission, create
a disclosure document (i.e.,
"ADV"), and pass the
Series 65 exam.
Note that the
Series 66 exam is treated
as the equivalent of the
Series 63 and
65 exams if the registrant
holds the
Series 7 registration.
Click here to order FINRA
study materials.
Certified Financial Planner Board
of Standards, Inc. owns the certification
marks CFP®,
CERTIFIED FINANCIAL PLANNER™ and
Federally registered CFP (with flame
logo) in the U.S., which it awards
to individuals who successfully
complete initial and ongoing certification. |
