CFP Certification Requirements – How to Become a CFP

With fiscal advising projected to be one of the top 10 fastest growing occupations, getting your CFP® target can help set you aside in the diligence. Let ’ s take a spirit what a CFP® professional is and what it takes to earn fiscal planning documentation .

What is a CFP® Professional?

A CFP® professional works with clients to create comprehensive plans for meeting their long-run fiscal goals, such as retirement, college tuition, occupation start-up, a home, and sol on. The U.S. Department of Labor Occupational Outlook Handbook predicts 5 percentage job emergence in the fiscal propose field through 2030, making it an excellent career option for young fiscal professionals. many CFP® professionals work in large fiscal or policy firms, although some choose to have their own businesses. To become one, you have to meet certain requirements.

CFP® Professional Requirements

To becoming a CFP® professional, you must :

  • Complete a CFP Board-registered education program.
    You can choose from several options for your education. CFP Board must be notified when you’ve completed it. Many of the coursework providers can do that for you.
  • Sit for the CFP® exam. You can do this once CFP Board has been notified of your education completion. The CFP® exam is offered three times a year in March, July, and November. You must
    take the exam within the 8-day window at one of the approved locations provided
    by CFP Board. You are permitted to register for the exam before you complete your program, but CFP Board must receive verification of your education completion by the education verification deadline, or you’ll be charged a $100 withdrawal
  • Hold or earn a bachelor’s degree from an accredited university or college within five years of passing the CFP® exam. You can sit for the exam beforehand, but you need to make sure you complete
    your degree in that 5-year window.
  • Demonstrate financial planning experience. This can be professional experience (6,000 hours) in relevant personal financial planning activities, or apprenticeship experience (4,000 hours) that meets additional requirements.
  • Pass CFP Board’s Candidate Fitness Standards. To do this, you must agree to adhere to their ethical standards. You also must disclose any criminal or employment termination history and pass a background check. For more information
    about the ethics requirement, you can visit CFP Board website here.

Candidates are most implicated about the CFP® examination. here ’ s what you need to know.With fiscal advising projected to be one of the crown 10 fastest growing occupations, getting your CFP® grade can help set you apart in the fiscal advise industry .

CFP® Exam Cost

The standard registration fee for the CFP® examination is $ 925, but there ’ s an early bird rate of $ 825, which is available until six weeks before the registration deadline. There ’ s a late registration fee of $ 1,025 for the two weeks before the registration deadline. You can register for the CFP® exam with CFP Board online or by phone before or after you complete the department of education program coursework and become eligible for the examination. If you register before you finish the coursework, you must send CFP Board proof of your completed coursework. CFP Board will notify you when your eligibility is confirmed .

How to Prepare for the CFP® Exam

The examination is given in a computer-based format and consists of 170 multiple-choice questions that test your fiscal plan cognition in node situations. You are given the examination in two 3-hour sessions with a 40-minute schedule break between the two sessions. Each session includes two subsections and you may take an optional, unscheduled break in between the examination subsections. Preparing for the CFP® examination requires a significant time committedness. CFP Board recommends you spend at least 250 hours studying for the examination. While that sounds overwhelm, the time goes pretty cursorily between pre-study, the Candidate Handbook, required education courses, interview bank time, a review class, exercise exams, and your own revue preparations.

A bang-up direction to approach preparing for the CFP® examination is to think of it like training for a marathon. It ’ s not a situation where you can sprint ( or cram ). There ’ south merely besides much to learn, and you ’ ll want to be able to apply it to case studies. then, you make certain you have the distance in your liveliness to dedicate the necessary hours to study. then, create a strategic study plan. A big way to structure your plan is to mirror the examination burden, which the CFP Board updates based on regular job tax analysis. At the same time, you shouldn ’ thyroxine starting signal off by studying the most heavily slant topics in astuteness. rather, learn the basics of each category first. then, work deep into the categories based on weight unit and your familiarity with them, so you can absorb more detail .

How to Pass the CFP® Exam

here are few tips that can help you pass the examination :

  • Focus on learning when you study. The CFP® examination is all about applying cognition to real situations you could encounter on the job. Twenty percentage of the examination ’ south scoring rests on two case studies that expect you to analyze a conjectural node situation and determine the best next steps. therefore, rather than spending all your time on memorize, you need to work on mastering the fabric and applying it .
  • Practice exam questions. The more you exercise, the more familiar you will become with how to apply your cognition. work with questions that have the like difficulty level as the actual examination to determine if you have sincerely mastered a finical world and where you might be making mistakes. You can find exercise questions at the end of homework provider chapters, in homework provider bank quizzes, and in practice exams from CFP Board and homework providers .
  • Don’t cram the day and night before. feverishly going over lists or taking full rehearse exams can be mentally drain, then avoid them on the day before the examination. alternatively, reread some of the wordier areas of the course of study like ethics. Think about what it could be like to be advising clients in the future and drill answers to the questions they might ask. then, stop about dinner time, equitable as if you were already in the office, slack, and have a commodity meal .
  • Picture yourself passing. Before a big examination like this, it ’ randomness natural to panic and worry about failing. alternatively try to visualize yourself answering questions competently and getting a great score. positive affirmation can go a long way to calm your nerves and put you in the mighty mentality .

After You Receive Your CFP® certificate

once you have your CFP® certification, as a CFP® professional each year you will be required to pay an annual authentication tip and submit a refilling application, where you will confirm that you are adhering to CFP Board ‘s Code of Ethics and Standards of Conduct to maintain CFP® documentation. In summation, every two years, you will be required to complete continuing department of education ( CE ).

If you do your continuing department of education credits through Kaplan, we ’ ll submit your completions for you ! To view our continuing education offerings for CFP® documentation, please visit our CFP® certification CE page. You can besides learn more about all our CFP offerings on our CFP® Education page. ___ Are you ready to get started on the path toward financial planning certification with your CFP® certification education? Enroll with College for Financial Planning®—a Kaplan Company by visiting our website browsing our CFP certification offerings or calling a designation specialist at 800.237.9990 Option 2.

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