What You Should Know About The CFP Certification Requirements?

The financial services industry is a highly regulated industry that is why it is important that all financial professional must remain and continue to be suitable to the position they have in this industry. To achieve that they must successfully earn the prestigious and globally accepted Certified Financial Planner Certification. Certified Financial Planner Certification is a designation awarded by the Certified Financial Planner Board of Standards (CFP Board) to those financial planners and other professionals who were able to complete the formal CFP course curriculum and most of all successfully passed the Certified Financial Planner Certification Examination.

Like any other examinations in order for you to qualify on taking the Certified Financial Planner Certification Examination there are set requirements that you must complete. The CFP Certification requirements are mandated by the Certified Financial Planner Board of Standards (CFP Board) which means that you must really comply with it in order for you to be able to take the exam. And take note that passing this exam is the only way for you to earn the CFP Certification.

Allow me to discuss to you further the CFP Certification requirements that you have to complete before taking the CFP Exams. You have to meet the educational qualifications and that is by earning a Bachelor’s degree or higher from any form of discipline as long as it is from an accredited college or university. It will be an advantage on your part if you also have an educational background in the fields of finance, accountancy, management and ethics in this way you have a wider scope of learning.

You must also complete the formal CFP course curriculum that will require you to take special course subjects that can be very helpful in order for you to successfully ace the CFP certification exam. These special course subjects are the major content of the certification exam that is why you must have a good review and lectures about it for you to gain the knowledge that you need. Listed below are the special course subjects that you have to take.

a) Fundamentals in Financial Planning Program
b) Insurance Planning Program
c) Investment Planning Program
d) Income Tax Planning Program
e) Estate Planning Program
f) Employee Benefits Planning Program
g) Retirement Planning Program
h) Case Study in Financial Planning Program
i) Capstone Case in Financial Planning Program

Another requirement is that you have to complete a three years working experience as a financial planner, assistant financial planner or any career related in financial services industry. Lastly, you must submit for a background check and adhere to the Code of ethics set by the industry.

Aiming for a successful financial planning career is very important if you want to make it big in this industry. That is why you should really take the CFP exam and pass it in order for you to earn the strongest designation and that is the Certified Financial Planner Certification.

Earning The CFP Continuing Education Units

Earning the prestigious Certified Financial Planner Certification goes with a great responsibility. This is the designation awarded by the Certified Financial Planner Board of Standards to those individuals who were able to complete the formal CFP course program and at the same time successfully passed the Certified Financial Planner Certification Examination. As you own this credential it is very important that you live according to its standards and principles.

Certified Financial Planners play an important role in the financial services industry. These are group of professionals who help their clients in terms of their financial needs and stability. That is why it is very important that these professionals abide with the standards of the industry in order for them to provide the ample services that their clients deserve.

Certified Financial Planner professionals are required to take CFP continuing education (CE) in order for them to maintain their certifications. They must earn the needed CE units that are mandated by the Certified Financial Planner Board of Standards, Inc. (CFP Board). A CFP continuing education is part of the requirement to be able to ensure that all Certified Financial Planners stay current with that is going on in the industry and at the same time to help contribute in increasing professional competency of CFP professionals. This is very important because all CFP professionals agree to adhere to the standard that includes any future revisions within the field.

A CFP professional is required to renew their CFP Certification every other year and you will be able to do that by undergoing CFP CE units. Your CE requirement is immediately effective once you get your initial certification. The number of Continuing Education hours for every newly certified CFP professionals is calculated based on the period of their first initial certification up to the end of the initial certification period. They are also required to complete a 30 hours of Continuing Education in every reporting period. The 30 hours Continuing Education is composed of two hours CFP Board approved Ethics and at the same time 28 hours from one or more of the accepted subject topics. The 2 hours Ethics continuing education is required in order to ensure that all CFP professionals continue and remain informed of the Standards of Professional Conduct in which they agree to adhere to as part of the condition in receiving the CFP certification. You will be able to earn you CE hours during the current reporting period. This is a 2 year period which ends during the last day of the CFP’s professional renewal month.

Being able to earn the needed CFP continuing education units needed is really important to your career as a Certified Financial Planner. Aside from the fact that this is the only way for you to renew your license this can also help you in gaining additional learning that can help in the betterment of your career.

Meeting CFP Certification Requirements, A Must For Boosting Your Career

Having a very credible finance related certifications is very much recommended if you want to boost your career up even if you’re going to become a stock broker or even just a financial analyst for individuals or for huge companies. Anyone can become a stock broker or a financial advisor if he’s a graduate of finance related course like economics or accountancy. However, to become more successful in your field, you need to get some of those finance related certifications. The rewards are great because not only will you land on a better job, you will also have a higher salary base. As you go up the finance industry, you’ll gain more recognition and respect. More and more companies will get your services and you’ll just be overwhelmed by it.

One example would be becoming a certified financial planner or CFP. It’s one of the hottest jobs in the finance industry these days. It’s a tough wall to break as well but again, the rewards are greater. All you have to do is meet the CFP certification requirements and pass the CFP certification examination and you’ll get it done. It was written in one single sentence but really, it will take all your sweat and blood to get one of these certifications. Being a certified financial planner holds a great responsibility. One wrong decision and it could massively affect the operations and finances of the entire company. That’s the reason why the CFP board of standards stands by its guidelines to really pick out the best of the best finance advisers out there.

First in their list is that you should be a graduate of any finance related course. Knowing your place is very important in financial planning. You should already know the terminologies, the jargons etc. You should already know how the market works and you can predict where it is going. If you have a master’s degree in any of the fields of finance and business, it’s a lot better. This way, you won’t be surprised of the things you’re going to learn in CFP training school, which leads us to the next step.

Second, you have to attend a certified financial planner training school. This time, every principle in financial planning will specifically be taught. Your mentors will hone your skills in analyzing and reading data which will be used for creating effective financial plans. You will cover all the areas of financial planning from simple stock investment to retirement plans. Once you are all well-equipped with the knowledge and skills, you are now ready to take the next step.

Third, you will need at least three years of experience in financial planning. While you believe that you can do things because of the theories that you’ve learned, it’s still better to be exposed in real world situations, that way you can sharpen your skills all the more and be ready for the CFP certification exam. And yes, fourth would be the examination. It’s a 10 hour exam that will test everything you’ve learned. Once you pass it, then you can have the certification and you can officially call yourself a CFP. Add this to your resume and you’ll find a lot of companies will open their arms for you.

Meeting the CFP certification requirements will lead to another level of your career. As you go up the mountain of the finance industry, your value also increases and you will land on a better job and a higher paying one. Get to know more information on how to pass the CFP certification examination now.