What it Takes to Be a CFP^® Professional

Full Transcript:

Are you wondering what designations your financial advisors should have? Today we’re going to talk about it takes to become a CFP^® professional.

The CERTIFIED FINANCIAL PLANNER™ designation, or CFP^®, is one of the most rigorous certifications a financial advisor can have. In addition to having a very high technical standard, a CFP^® professional must also adhere to the high ethical and professional standards set by the CFP^® board.

There are four components that your CFP^® professional must complete before they can use the CFP^® marks. There’s the education, exam, experience, and ethics.

The education component requires completing a bachelor’s degree and an additional CFP^® board registered curriculum. Once you complete that, you can sit for the CFP^® exam, an all-day 170-question exam that also includes case studies. In addition to having the academic knowledge, you must also have the experience. The CFP^® board requires 6,000 hours, or three years of experience, before you can use the CFP^® marks with your name. And then lastly, a CFP^® professional must always act as a fiduciary to their clients.

Now let’s talk about my path for becoming a CFP^® professional. In addition to completing my bachelor’s degree at Michigan State, I went to Rice University and completed their CFP^® program in December of 2020. In March of 2021, I set for the CFP^® exam and passed it on my first attempt. This March exam had a 63% pass rate. By having such a low pass rate, it really keeps the hurdle very high to make sure only the best can become CFP^® professionals. Now, after leaving Shell, I cut my teeth as a financial advisor at Asset Management Advisors and then later started my own firm, New Heights Planning. And I will always act in my client’s best interest in everything that I do.

Now, if you’d like to learn more about the CFP^® and see if your advisor is a CFP^® professional, go to letsmakeaplan.org.