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A 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. |
