Why work with a CFP® Professional?

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Most people think that all financial planners are “certified”, but this is not true. Anyone can call himself or herself a “financial planner.” Only those who have fulfilled the certification and renewal requirements of CFP Board can display the CFP® certification marks.

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Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements. These standards are called “the four E’s,” and they are four important reasons why the financial planning practitioner you select should display the CFP® certification marks.

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EDUCATION: CFP® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board.

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Examination: CFP® practitioners must pass a comprehensive six-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 the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance. Once certified, CFP® practitioners are required to maintain technical competence and fulfill ethical obligations by continuing their education.

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Experience: CFP® professionals must have three years’ minimum experience in the financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

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Ethics: As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, which sets forth their ethical responsibilities to the public, clients, and employers. CFP Board also performs a background check during this process, and everyone must disclose any investigations or legal proceedings related to their professional or business conduct.

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Beyond A Fiduciary

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Most financial advisors are “fiduciaries”, a term used by many advisors to gain trust with prospects. However, CFP® professionals are bound by a Code of Ethics in addition to being fiduciaries. Practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP® practitioners are to act with integrity, offering you professional services that are objective and based on your needs. 

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