How do you know if you could benefit from a CERTIFIED FINANCIAL PLANNER® professional?
You may not have the expertise, the time, or the desire to actively plan and manage certain financial aspects of your life. You may need help getting started. You may benefit from an objective, third-party perspective on what are often emotional, difficult decisions. In today's hectic world, it can be beneficial to have a CFP® professional to make sure you stay focused and follow through.
How a CFP® professional can help
A CFP® professional from the Financial Planning Association® (FPA®) can help you:
- Set realistic financial and personal goals
- Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments, and estate plan
- Develop a realistic, comprehensive plan to meet your financial goals by identifying opportunities and building on financial strengths
Life events that prompt planning
Often, a specific event or need will trigger the desire for professional financial planning guidance. These might include:
- Making sure your money will last during retirement or rolling over a retirement plan
- Handling an inheritance or another unexpected financial windfall
- Financial preparation for a marriage or divorce
- Planning for the birth or adoption of a child
- Facing a financial crisis such as an illness, a layoff, or a natural disaster
- Coping financially with the death of a spouse or close family member
- Funding education expenses
- Buying, selling, or passing on a family business
- Planning for other complex financial situations
CFP® certification requirements
CFP® professionals are dedicated to using the financial planning process. To earn the prestigious CFP® certification and remain certified as a CFP® professional, individuals must meet education, examination, experience, and ethics requirements set by CFP® Board.
Education
They must complete a comprehensive course of study offered by a college or university program (ranging from certificate to doctoral degree levels) that covers a personal financial planning curriculum approved by CFP® Board. In addition, they must have earned a bachelor's degree from a regionally accredited college or university.
Examination
CFP® professionals must successfully complete CFP® Board's comprehensive examination, which tests an individual's ability to integrate and apply their financial planning knowledge.
Experience
They must acquire three years of financial planning-related experience, or a limited two-year structured option, before they are eligible to use the CFP® marks.
Ethics
They must voluntarily adhere to CFP® Board's code of ethics and additional requirements as mandated. This includes providing financial planning services as a fiduciary or acting in the client's best interest.
Finding the right planner
Choosing a CERTIFIED FINANCIAL PLANNER® professional is as important as choosing a doctor or lawyer; it's a very personal relationship.
Many CFP® professionals specialize in working with specific client types, such as small-business owners, executives, or retirees. Some specialize in certain areas of planning, such as retirement, divorce, or asset management. We recommend you interview at least three CFP® professionals to find the right one that best serves your needs.