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Eric and Dave

CFP® Certification Requirements

Working with a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional is an important first step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to the highest ethical and professional standards in the industry.

 

Education

CFP® professionals must master nearly 100 integrated financial planning topics, including:

  • Investments
  • Income tax planning
  • Retirement planning
  • Employee benefits
  • Estate planning
  • Risk management
  • Insurance

In addition to completing a comprehensive financial planning curriculum approved by CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning.

 

Examination

Establishing and defining the Client-Planner relationshipCFP® practitioners must pass a comprehensive two-day, 10-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers:

  • Gathering information necessary to fulfill the engagement
  • Analyzing and evaluating the clients current financial status
  • Developing recommendations
  • Communicating recommendations
  • Implementing recommendations
  • Monitoring the recommendations
  • Practicing within professional and regulatory standards

 

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Experience

CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial advising skills in addition to financial planning knowledge.

 

Ethics

As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

 

What to Expect When Working with a CFP® Professional

It is important to understand how CFP® professionals deliver their services and how they are compensated. Planners are compensated for the services they provide in different ways. Some are paid through commissions and others through fees or a combination of both. While all CFP® practitioners are trained to provide you with comprehensive financial planning services, some specialize in one or more areas, or work with specific types of clients. Be sure to ask the planner how he or she is paid.

 

What Else Should I Remember When Selecting a Planner?

As more people call themselves “financial planners,” finding the right professional to address your financial planning needs isn’t always easy. Become familiar with the planner’s business style and understand the level of services he or she provides. Look for a measure of the planner’s commitment to ethical behavior and adherence to high professional standards. Look for a financial planner who will put you and your needs at the center of every financial planning engagement.

 

What is CFP® Board's Code of Ethics?

Through the Code of Ethics, CFP® practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first.

The Code of Ethics states that the CFP® practitioners are to act with integrity, offering you professional services that are objective and based on your needs. They are required to provide you with information about their sources of compensation and conflicts of interest in writing.

Consumer Information

Securities and Advisory Services offered through Woodbury Financial Services, Inc. (WFS), member FINRA, SIPC, a Registered Investment Advisor. WFS is separately owned and other entities and/or marketing names, products or services referenced here are independent of WFS.  Neither WFS nor its representatives or employees provide legal or tax advice.

This site is for informational purposes only and is not intended to be a solicitation or offering of any security and:

Representatives of a Registered Broker-Dealer (“BD”) or Registered Investment Advisor (“IA”) may only conduct business in a state if the representatives and the BD or IA they represent (a) satisfy the qualification requirements of, and are approved to do business by, that state; or (b) are excluded or exempted from that state’s registration requirements.

Representatives of a BD or IA are deemed to conduct business in a state to the extent that they would provide individualized responses to investor inquiries that involve (a) effecting, or attempting to effect, transactions in securities; or (b) rendering personalized investment advice for compensation.

We are registered to offer securities in following states: AZ, CA, CO, FL, IL, IN, KS, MI, MN, MO, NC, NV, OR, VA, WI.

 

CFP LogoCertified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. Compensation equals fees and commissions.