What is a CERTIFIED FINANCIAL PLANNER™?
As we go through life, we all have to make key financial decisions that will affect our future. These considerations might vary from retirement planning to preparing for a child’s education to debt management. While some people may feel comfortable making these decisions on their own, others may prefer to seek expert advice. A CERTIFIED FINANCIAL PLANNER™ (CFP®) might be a significant resource in this situation.
A CFP® is a financial practitioner who has met the CERTIFIED FINANCIAL PLANNER™ Board of Standards’ stringent education, test, experience, and ethics standards. (CFP® Board). The CFP® Board is a non-profit organization dedicated to upholding the highest professional and ethical standards in the financial planning business.
A candidate must finish a thorough education program that covers areas such as financial planning, investment management, insurance, tax planning, and retirement planning in order to become a CFP®. Online classes, college courses, and self-study programs are all options for meeting the education requirement.
Following completion of the schooling requirement, a candidate must pass a rigorous examination testing their knowledge and grasp of financial planning topics. Financial planning, retirement planning, tax planning, and estate planning are all included in the test.
A candidate must have at least three years of professional experience in the financial planning field in addition to the academic and test requirements. Working with customers, performing research, or teaching financial planning courses can all help you achieve this experience.
Finally, a candidate must follow the Code of Ethics and Standards of Conduct of the CFP Board. This code defines the ethical standards that a CFP® must follow when working with clients, including placing the client’s interests ahead of their own, operating with honesty, and preserving confidentiality.
Overall, a CERTIFIED FINANCIAL PLANNER™ is a great resource for those who wish to make educated financial decisions.