CFP®: CERTIFIED FINANCIAL PLANNER™

The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered professional certification marks (collectively, the “CFP® marks”) granted by the United States by Certified Financial Planner Board of Standards, Inc. (“CFP® Board”).

The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold a CFP® certification.

To attain the right to use the CFP® designation, an individual must satisfactorily fulfill the following requirements:

• Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and as of January 2007, attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;

• Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and Client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;

• Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and

• Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.

Individuals who become certified must complete ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks. This requires 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and renewal of an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their Clients.

CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.

Check designation status online at: www.cfp.net/verify-a-cfp-professional

CPA: CERTIFIED PUBLIC ACCOUNTANT

The CPA designation distinguishes licensed accounting professionals committed to protecting the public interest.

These professionals offer financial statement audits and other attestation services to help inform investors about the financial health of organizations. They provide individuals and families with valuable knowledge and advice on taxes and financial planning.

In business and industry, CPAs offer organizations around the world tax, financial reporting and advisory services to drive strategic decision-making and foster growth and success.

To earn the CPA license, accounting professionals must have extensive education—at least 150 hours—pass a rigorous four-part exam and meet experience requirements.

They must also commit to lifelong learning and adhere to a strict Code of Professional Conduct that requires competence, objectivity, integrity and independence.

CWS: CERTIFIED WEALTH STRATEGIST

The Certified Wealth Strategist® is a certification for professionals working in the affluent and high-net-worth retail market segments in the financial services industry. It is based on an established set of industry-wide competencies that cover the concepts, rules, regulations, laws, and standard operating procedures that the candidate should be proficient in affluent and high-net-worth retail market segments.

Why the CWS®:

For Individuals: The CWS® demonstrates to executive management that you have the skills and knowledge to operate successfully at the highest level of this field. It gives you more visibility, shows commitment to your career and sets you apart from others in the industry.

For Executive Management: The CWS® demonstrates to clients, regulators, and others in your organization that your team has the skills and knowledge to operate at the highest level in the field. Having a CWS® designee on your team will help position your organization as one that is committed to being at the forefront of the fiduciary industry.

For Regulators: The CWS® is evidence of your ongoing commitment to comply and stay up-to-date with regulations. This designation serves as a common understanding of the concepts, rules, regulations, laws, and standard industry operating procedures.

Qualifications to apply for CWS® 

• Three years of industry experience and a four-year degree from an accredited college or university
  OR

• Five years of industry experience