Requirements to Become a Certified Financial Planner

The Certified Financial Planner (CFP) is a professional certification for the financial planners, presented by the Certified Financial Planner Board of Standards (CFP Board). There are 25 organisations that are affiliated with Financial Planning Standards Board (FPSB) thus, making it an accepted certification in the corporate world. To receive authorisation the candidate must meet certain requirements set by the CFP. These requirements are compulsory and include the following:

• Education: All the Candidates applying for the CFP certification must master theoretical and practical knowledge that is required for financial planning. This can be done by completing a well-rounded study course that meets the standards set by the FPSB.
• Examination: To receive the CFP certification, candidates must pass a comprehensive CFP Certification Examination, which assesses their ability to apply financial planning knowledge in real world situations. Based on research that the planners do, the CFP Examination covers the financial planning process, tax planning, employee benefits and even retirement planning, along with estate planning, investment management and insurance.
• Experience: Candidates applying for the CFP certification must fulfil relevant work experience standards in the field of financial planning, prior to getting the CFP certification. This is done in order to ensure that they possess financial counselling skills, in addition to the financial planning knowledge that is required.
• Ethics: Candidates hoping to complete the CFP certification must agree to follow a strict code of ethics, along with professional responsibilities that define their ethical responsibilities, towards the general public, clients and also their employers. 

Certified Financial Planners must also disclose any investigations or legal proceedings that are related to professional or business conduct and also agree to place the interest of clients above others requirements. They must act fairly and with integrity, while offering clients professional services that are based on clients’ requirements. CFP professionals must also disclose information about their sources, in writing to all their clients.