Most people think all financial planners are “certified,” but this isn’t true. Anyone can call himself a “financial planner.” Only those who have fulfilled the certification and renewal requirements of CFP Board can display the CFP® certification marks, which represent a high level of competency, ethics and professionalism.
CFP Board’s Standards of Professional Conduct require CFP® professionals to look out for your interests above their own.
CFP® CERTIFICATION REQUIREMENTS
Applicants may also satisfy the education requirement by submitting a transcript review or previous financial planning-related course work.
Or, they can show that they have attained certain professional designations or academic degrees that cover the important subjects in CFP Board’s financial planning curriculum.
The exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.
The average pass rate for this difficult exam is only 56%. This comprehensive exam ensures that Certified Financial Planner™ professionals are highly qualified to develop a plan for your finances.
This hands-on experience guarantees that CFP® professionals have practical financial planning knowledge, so you can count on them to help you create a realistic financial plan that fits your individual needs.
CFP Board’s Code of Ethics outlines CFP® professionals’ obligations to uphold principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence.
And the Rules of Conduct require CFP® professionals to put your interests above their own and to provide their financial planning services as a “fiduciary” — acting in the best interest of their financial planning clients. CFP® professionals are subject to CFP Board sanctions if they violate these standards.
Everyone who seeks CFP® certification is subject to a background check, and those whose past conduct falls short of CFP Board’s ethical and practice standards can be barred from becoming certified.
After attaining certification, a CFP® professional who violates CFP Board’s ethical and practice standards becomes subject to disciplinary action up to the permanent revocation of certification. Through diligent enforcement of its ethical and practice standards, CFP Board provides you with the confidence that your CFP® professional is both competent and ethical.