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What Does it Take to Get Financial Planning Certification?
By Kathy A. Johnson
kathy.johnson@hqpublications.com
Business Programs Columnist
If you pursue a career in financial planning, you will handle the most sensitive of items: other people's money, and as a result, other people's dreams. What can set you apart from the others in your field? In one word, certification.
There are several types of certifications available to those in the financial planning field. One of the most respected, however, is the designation of Certified Financial Planner, issued by the Certified Financial Board of Standards.
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The Four E's
Certification consists of requirements in four areas: Education, Examination, Experience and Ethics, known as the four Es, according to the CFP Board of Standards Web site. To meet the education requirement, you will be required to master more than 100 financial planning topics.
In addition, beginning in 2007, you must possess a bachelor's degree in any discipline. (This requirement will be waived for those who have already met all certification requirements before 2007.)
You may apply to take the certification examination after you have met the education requirement. This exam will test your knowledge of financial planning topics. A topic list will be provided by the CFP Board.
If you have a bachelor's degree or higher, three years of appropriate experience in financial planning is required (five years if you don't have at least a bachelor's degree). These can be completed either before or after passing the CFP exam.
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For the ethics portion of the four Es, you will have to sign a form asking if you have ever been involved in any "criminal, civil, governmental, or self-regulatory agency proceeding or inquiry." You will also be asked to agree to adhere to the CFP Board's Code of Ethics and Professional Responsibility and agree that the CFP Board can enforce disciplinary action if you do not.
Beginning your Financial Planning Certification
Adding the designation Certified Financial Planner to your resume indicates your professional knowledge, as well as your commitment to continuing education. For more information, see the Certified Financial Planner Board of Standards Web site. To learn more about Financial Planning, explore the finance programs that Business Programs has in its extensive database.
About the Author:
Kathy A. Johnson is a freelance writer and editor based in Florida. She has worked as a writer and editor for several publications, writing articles on a wide variety of topics. She is currently the features editor of Forum, a bimonthly publication of the national mothers group, Mothers & More.
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