Certified Financial Planner Training – It All Starts With Education

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Certified Financial Planner
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CFP Activities

• Perform periodic job analyses to update content
  areas
• Develop and administer the
• CFP Certification Examination
• Educate the public about CFP marks
• Certify individuals who voluntarily meet initial
  ongoing competency and ethics requirements
• Develop enforce CFP Certifications
• Standards of Professional Conduct

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Current Demographics

• Over 64,000 CFP professionals in U.S. and
  another 75,000 in 23 other territories
• 94 have a college degree
• About 36 have a Masters degree or higher
• Over 60 also have insurance and/or securities
  licenses
• 12 also have a CPA license

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Growth of the CFP Certification

• 5,500-7,500 candidates take exam yearly
• More than 8,500 took exam in 2012
• Number of Registered Programs rose from 73 in
  1995 to over 300 now
• Increased recognition by industry professionals
• Increased recognition and preference by consumers

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What Is Financial Planning?
Financial Planning is an ongoing process to help
you make sensible decisions about money that can
help you achieve your goals in life. Comprehensiv
e financial planning uses an integrated approach
to monitor all aspects of someones financial
situation - Insurance Risk Management
- Investment Planning - Tax Planning
- Retirement Planning - Employee
Benefits - Estate Planning
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Value of the CFP Certification

• Educational process provides the financial
  planning knowledge needed to serve clients better
• resulting in increased client satisfaction
  and client retention
• Career growth and enhancement
• 59 of CFP professionals indicated that CFP
  certification has a positive impact on their
  salary/compensation
• Personal Satisfaction
• 86 of CFP professionals reported being
  very satisfied with their career choice
• 91 would recommend CFP certification to
  other financial professionals

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Value of the CFP Certification

• Consumers need financial planning advice now more
  than ever before 64 of consumers have never had
  a written financial plan
• Consumers look for trusted advisors who will put
  their interests first and are able to provide
  advice on many facets of their finances Consumers
  ranked CFP certification second only to the CPA
  license when asked which professional
  certification/license or official designation had
  the best reputation for ethical conduct
• Changing demographics consumer
• confusion
• Financial plannings time has
• come

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Career Opportunities

• Financial service firms such as brokerage firms,
  insurance companies and banks
• Accounting firms
• Boutique financial planning firms
• Nonprofit organizations
• Human resource positions

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Initial CFP Certification

• The 4Es
• - Education
• - Examination
• - Experience
• - Ethics

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Bachelors Degree Requirement

• Bachelors degree (or higher) required
• Degree does not need to be in financial planning
• Degree not needed to take the CFP Certification
  Examination
• Bachelors degree requirement must be completed
• within 5 years of passing the CFP exam

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Course Requirement

• Mastery of nearly 100 topics determined to be
  essential to practice financial planning based
  on extensive job analysis studies
• Three options for completion
• Education through CFP Board-Registered Programs
• Challenge status
• CPA, CFA, CLU, ChFC, J.D., Ph.D. in
  Business or Economics
• Transcript review
• college work or professional credentials
  (listed above)

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CFP Certification Examination

• Assesses ability to apply financial planning
  education to client situations in an
  integrated format
• Developed through an extensive technical process
  involving practitioners at every stage
• Given three times/year March, July November
• More than 50 test sites around the country

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CFP Certification Examination

• 10-hour, two-day exam three separate sessions
• About 285 multiple choice questions
• Major case study in each session
• Sample case study and questions on
• jmu.financialplannerprogram.com
• 50-60 pass rate (74 cumulative)

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Ongoing Certification Requirements

• Annual certification fee
• 30 hours of CE credit every 2 years
• 2 hours of pre-approved courses on CFP Boards
  Standards of Professional Conduct
• Disclosure of any legal proceedings, ethics
  violations, pending disciplinary matters or
  litigation within reporting period

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Greene Consulting AssociatesWaterstone
Building4751 Best Road, Suite 450Atlanta,
Georgia 30337Phone [phone]Fax
404.324.4610