WHAT TO EXPECT WHEN WORKING WITH A CFP ® PROFESSIONAL

When you work with a CFP ® professional, you are the focus of the financial planning relationship and our needs drive the financial planner's recommendations. CFP ® professionals follow certain standards - called Financial Planning Practice Standards - when providing financial planning. These standards are based on the six-step financial planning process described below. This broad-based approach to financial advice distinguishes financial planning professionals from other professional advisors who typically focus on only one area of a person's financial life.

Learn more about why you should choose a CFP™

THE FINANCIAL PLANNING PROCESS

• Establishing and defining the client-planner relationship
• Gathering client data including goals
• Analyzing and evaluating the client's financial status
• Developing and presenting financial planning recommendations and/or alternatives
• Implementing the financial planning recommendations
• Monitoring the financial planning recommendations

WHY ARE THE CFP ® CERTIFICATION REQUIREMENTS IMPORTANT?

Most people think all financial planners are “certified,” but this isn’t true. Just about anyone can use the title “financial planner.” CFP Board benefits the public by independently certifying financial planners. Although CFP Board does not guarantee their work, CFP® professionals have met rigorous qualifications for financial planning. Only those who have fulfilled CFP Board’s rigorous requirements can call themselves a CFP® professional.

As part of their certification, CFP® professionals commit to high ethical standards. What’s more, a CFP® professional must acquire several years of experience related to delivering financial planning services to clients and pass the comprehensive CFP® Certification Exam before they can call themselves a CFP® professional.

CFP ® CERTIFICATION REQUIREMENTS

EDUCATION

CFP ® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board. Other options for satisfying the education component include submitting a transcript review or previous financial planning-related coursework to CFP Board for review and credit, or showing the attainment of certain professional designations or academic degrees.

EXAMINATION

CFP ® professional must pass a comprehensive one-day, 6-hour CFP ® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.

EXPERIENCE

CFP ® professionals must have three years' minimum experience in the financial planning process prior to earning the right to use the CFP ® certification marks. This hands on experience guarantees that CFP ® professionals have practical financial planning knowledge, so you can count on them to help you create a realistic financial plan that fits your individual needs.

ETHICS

When it comes to ethics and professional responsibility, Certified Financial Planner professionals are held to the highest of standards. CFP Board's Code of Ethics outlines CFP ® professionals' obligations to uphold principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence. And the Rules of Conduct require CFP ® professionals to put your interests above their own and to provide their financial planning services as a "fiduciary" - acting in the best interest of their financial planning clients. CFP ® professionals are subject to CFP Board sanctions if they violate these standards.

ENFORCEMENT

CFP Board's rigorous enforcement of its Standards of Professional Conduct - including releasing disciplinary information to the public - distinguishes the CFP ® certification from the many other designations in the financial services industry. Everyone who seeks CFP ® certification is subject to a background check, and those whose past conduct falls short of CFP Board's ethical and practice standards can be barred from becoming certified. After attaining certification, a CFP ® professional who violates CFP Board's ethical and practice standards becomes subject to disciplinary action up to the permanent revocation of certification. Through diligent enforcement of its ethical and practice standards, CFP Board provides you with the confidence that your CFP ® professional is both competent and ethical.

What to Expect When Working With a CFA® Charterholder?

WHAT IS A CFA CHARTER?

A Chartered Financial Analyst (CFA®) charter is a designation earned by those who have completed the CFA® Program and completed acceptable work experience requirements. The CFA charter demonstrates expertise and real-world skills in investment analysis. The CFA Institute is a global association for investment professionals with more than 178,000 members. The CFA curriculum encompasses the areas of accounting, economics, ethics, asset allocation, portfolio management and security analysis.

CFA REQUIREMENTS

EXAMINATION

The CFA Institute awards the Chartered Financial Analyst (CFA) designation to individuals that complete the 3-year CFA curriculum and pass three 6-hour exams.

EXPERIENCE

CFA Charterholders must have four years of qualified, professional work experience prior to earning the right to use the CFA ® marks. Additionally, candidates must possess a Bachelor's Degree from an accredited institution.

ETHICS

When it comes to ethics and professional responsibility, Chartered Financial Analysts are held to the highest of standards. Charterholders are also obligated to adhere annually to a strict Code of Ethics and Standards governing their professional conduct. Ethics are at the center of the CFA Institutes' mission which is to "promote the integrity and viability of the global capital markets for the ultimate benefit of society."

ENFORCEMENT

To protect the integrity of CFA Institute membership, designations, and exam programs, CFA Institute upholds the Code and Standards, all exam rules and regulations, and the CFA Institute Bylaws through the Professional Conduct Program. Members annually commit to uphold the Code and Standards, completing a Professional Conduct Statement as part of their membership renewal process, and disclosing any potential violations of the Code and Standards.

What to expect when working with an AAMS Professional

AAMS ® designees distinguish themselves by identifying opportunities not only in investment planning, but also by making comprehensive recommendations to meet a broad range of your financial goals - from saving for your children's college education to reducing taxes to building a nest egg for your retirement. With all of the complex financial planning information available today, an AAMS ® designee can give you knowledgeable advice on the best assets and strategies for your total financial needs.

Client Needs Assessment

The AAMS ® program emphasizes how to assess a client's total financial situation and needs - and then thoroughly evaluate assets under management and make appropriate recommendations. This is what distinguishes this program from others in the industry.

BUILD LASTING RELATIONSHIPS

A goal of the AAMS ® designee is to build lasting relationships with clients. They learn to recognize hidden opportunities by identifying their clients' needs within the broader context of asset management, including investments, taxation, retirement, estate planning, insurance, and more.

AAMS ® MARK

To be entitled to use this mark, candidates must successfully complete the specialized program and pass a rigorous examination, sign a code of professional ethics, and complete a disclosure form attesting to their professional conduct.

What to expect when working with a CRPC Professional?

Support the Retirement Lifestyle You Envision

Whether retirement seems a long way away or is already a reality, today's changing times require us to think about the future now. Planning for retirement at any stage of your life means analyzing your needs and wants and evaluating them according to what your financial situation will allow. From there, you'll need up-to-date information to plan a retirement that will let you consistently maintain your lifestyle. Preparing for retirement can seem like a monumental task, especially if you're still on the job or are just now finding out that your preretirement preparations weren't adequate!

Plan a New Beginning

Learn about your options by turning to a professional in retirement planning-a Chartered Retirement Planning Counselor or CRPC ® designee. CRPC ® designees can provide you with an understanding of complex pre- and postretirement issues. From helping you maximize sources of retirement income to guiding you through investments, a CRPC ® designee will effectively identify and analyze what you should do today to ensure a secure tomorrow.

Get Expert Advice

A CRPC ® designee can evaluate your financial status and design the optimal retirement plan for your lifestyle. Get the knowledgeable advice you need on issues such as planning for health care, asset management, beneficiary designations, income tax considerations, estate planning, and more. A CRPC ® designee can even help you determine the best time to retire or assist you in expanding on the plans that you've already made.

EDUCATIONAL PROGRAM

The College for Financial Planning provides CRPC ® students with a graduate-level curriculum that focuses exclusively on retirement planning. Study materials are written and updated regularly by the College's full-time faculty, who specialize in retirement planning,and provide the most current information on retirement options.

CLIENT NEEDS ASSESSMENT

The CRPC ® program teaches students how to assess a client's long-term planning situation and needs-and then evaluate retirement options and make appropriate recommendations. This is what distinguishes this program from others in the industry.

CRPC® MARK

To be entitled to use this mark, candidates must successfully complete the specialized program and pass a rigorous examination, sign a code of professional ethics, and complete a disclosure form attesting to their professional conduct.

CONTINUING EDUCATION CREDIT

All CRPC ® designees must sign a commitment to ongoing continuing education to ensure that they receive up-to-date information about current issues impacting the area of retirement planning.

Disciplinary Process

The College investigates all complaints filed against a designee and its Ethical Conduct Committee determines whether the allegations are justified and if the conduct warrants disciplinary action. Complaints may be filed using the Complaint Submission form found on the College's Financial Designation Resource site: www.cffpdesignations.com.

If a violation of the Standards of Professional Conduct is found, disciplinary sanctions shall be based on the seriousness of the situation and may include, but are not limited to, reprimand, suspension, or revocation.

Status Verification

An individual's authorization to use one of the College's designations can be verified online at: cffpdesignations.com or by phone at 800-237-9990.

What to Expect When Working With an FPQP®

WHAT IS AN FPQP DESIGNATION?

The Financial Paraplanner Qualified Professional™ (FPQP®) designation, issued by the College for Financial Planning (Kaplan), prepares professionals with foundational knowledge in financial planning. FPQP® designees are equipped to support advisors in areas like retirement, insurance, tax, investments, and estate planning.

FPQP® REQUIREMENTS

COURSEWORK

Designees complete a 10-module online curriculum covering all aspects of financial planning, followed by a final exam. The program is ideal for support roles or those entering the industry, and often serves as a stepping stone toward CFP® certification.

PROFESSIONAL STANDARD

While FPQP® designees do not provide standalone advice, they adhere to professional standards and often work directly with CFP® professionals as part of a planning team.