CFP Board (2024)

FAQs

What does CFP Board do? ›

Standards & Certification: CFP Board sets, administers and enforces certification standards that warrant public trust. Access: CFP Board expands access to competent and ethical financial planners by increasing the number and diversity of CFP® professionals.

Comparatively, CFP is easier than CPA. The historical pass rate has been above 60%, which indicates that the tests are of a difficulty level that is considered to be moderate. Within the testing period from October 31 to November 7, a grand total of 3,386 individuals sat for the CFP® Certification Exam.

​It really depends on your preferred career route: if you're into financial planning, CFP is the clear choice. If you're less sure but keen on a career in finance, perhaps CFA is a better choice for a broader finance base before you decide, although it is notably a more difficult qualification to get.

The CFP® Certification Examination is equally as challenging as the CFA® exams, the CPA® exam, and bar exam. Every year, thousands of candidates go through this rigorous certification testing, but not everyone makes it to the finish line.

In the long term, a CFP® can also help you plan whether you have enough life insurance coverage and know what investments belong in your retirement strategy. A financial advisor who holds a chartered financial analyst (CFA) designation, on the other hand, may focus on investment advice.

For 50 years, CERTIFIED FINANCIAL PLANNER® certification has been the standard of excellence for financial planners. CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first.

If math scares you, don't worry! Financial planning doesn't involve lots of number crunching. Most of the calculations are handled by software that takes the financial goals you put in and suggests options for achieving them. Financial planning is a relationship-driven service.

CFP Board today announced the results of the November 2023 CFP® Certification Exam. The exam was administered during an October 31 to November 7 testing window to 3,386 candidates, with 4% of candidates testing remotely. The pass rate for the November exam was 64%.

Well, to be truly “exam ready”, you should expect to study about 200 hours to prepare for the exam. At THE DALTON REVIEW^® for the CFP exam, our review consists of pre-study materials, a review class and post review materials.

The CFP^® exam is challenging...the overall pass rate for the March 2023 exam was just 65 percent. If you failed the exam, there are several things you can do to increase your chances of passing the next time.

How to make money as a CFP? ›

Many CFPs are fee-only advisors who receive no commissions when selling financial products and are compensated by fees billed to their clients. Fees may be hourly, fixed or based on a percentage of assets under management. Other CFPS are fee-based advisors, meaning they receive a mix of commissions and fees.

Thousands of CFP® professionals have indicated they also hold a CPA license. Being able to place both credentials after your name isn't just attractive to clients. It also shows employers your high level of commitment to serving clients by offering expertise and specialization within your profession.

The CFP and Series 7 are two designations you might see in the finance industry that are held by financial advisors. However, the CFP and Series 7 are used for different purposes. A series 7 allows you to sell investment products and securities, while a CFP establishes expertise in financial planning.

You may attempt the CFP® exam a lifetime maximum of 5 times. (If you attempted the exam 4 or more times prior to January 1, 2012, you will be permitted a maximum of 2 additional attempts.)

Learn at your own pace through text-based learning and comprehensive resources. Designed with one goal in mind – your success – The Dalton Review is the proven roadmap and a 2-3 month program that will guide you towards passing the prestigious CFP® exam with confidence.

A CFP^® professional must act with the care, skill, prudence, and diligence that a prudent professional would exercise in light of the Client's goals, risk tolerance, objectives, and financial and personal circ*mstances. Duty to Follow Client Instructions.

The 13-member selection committee remains in place, and its mission is essentially the same as it's always been, according to the College Football Playoff: "The selection committee's task will be to select the best teams, rank the teams for inclusion in the playoff and assign the teams to the playoff sites."

Earning your CERTIFIED FINANCIAL PLANNER® certification is the most beneficial step you can take to accelerate your career and better serve your clients. As a CFP® professional, you'll enjoy a rewarding, in-demand career while helping people achieve their financial dreams.

The Glossary defines a “Client” as any person to whom the CFP® professional “provides or agrees to provide Professional Services pursuant to an Engagement.” An “Engagement” is an “oral or written agreement, arrangement or understanding.” Therefore, unless there is an agreement, arrangement or understanding that the CFP ...