A CFP® certification means a financial advisor has agreed to adhere to the principles of integrity, objectivity, confidentiality, professionalism, and diligence when working with clients. The process to obtain the certification includes demonstrating key standards known as the “four E’s:”education, examination, experience, and ethical requirements.
Education: A bachelor’s degree is required as well as successfully completing a college-level program of study in personal financial planning, including completion of a financial plan development (capstone) course registered with CFP Board.
Examination: After completing the education requirement, candidates may begin the examination step. The exam consist of two 3-hour sessions separated by a scheduled 40-minute break.
Experience: CFP Board requires you to have three years of professional experience in the financial planning process, or two years of apprenticeship experience that meets additional requirements.
Ethics: After completing the above the requirements, candidates must agree to adhere to the high standards of ethics and practice outlined in CFP Board’s Standards of Professional Conduct and to acknowledge CFP Board’s right to enforce them through its Disciplinary Rules and Procedures. The Board’s Code of Ethics includes: Integrity, Objectivity, Competence, Fairness, Confidentiality, Professionalism, and Diligence.
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