CFP Board Updates
CFP Board Update: Tips for Passing the CFP® Exam
The CFP® Exam continues to evolve from the topic-based rubric of the past. Prior exams were built from a pre-set mix of questions from Fundamentals, Risk Management, Investments, Income Tax, Retirement, and Estate Planning. The CFP® Exam now focuses on eight “Job Task Domains.” Six domains mirror the six steps in the financial planning process while Communications…
Read MoreCFP Board Issues Compliance Checklist for Standards of Professional Conduct
It is no secret that the CFP Board has placed greater and greater emphasis on the Standards of Professional Conduct required of certified financial planners. Evidence of this can be seen in the most recent national Board exams, where greater emphasis has been given to testing knowledge and compliance of these standards. To assist CFP® professionals in complying…
Read MoreCFP Board Proposing to Increase CE Hours
The CFP Board is currently proposing to make the following changes in continuing education (CE) requirements for certified financial planners: Increasing total CE hours required for each renewal period (every 2 years) from 30 to 40 hours. Granting credit for practice management programs and/or pro bono activities sponsored by a registered CE sponsor organization (up…
Read MoreCFP Board Proposes Changes to the Continuing Education Requirements of CFP(R) Certificants
After six months of reviewing the current continuing education requirements of Certified Financial Planner™ (CFP®) certificants, the Certified Financial Planner Board of Standards, Inc. (CFP Board) has established proposed changes to the current requirements. Last Friday, August 17, 2012, the CFP Board announced the proposal of the new rules regarding the continuing education requirement for…
Read MoreCFP Board Approves Changes for the Better
On April 5, 2012, Certified Financial Planner Board of Standards, Inc. communicated changes incorporated into the CFP® designation. These changes were implemented to strengthen the rules and procedures and to clarify public disclosure. The changes mainly touch three domains of requirements: Experience, Bankruptcy Disclosure Procedure, and Amendments to Disciplinary Rules. Changes in the Experience Requirement:…
Read MoreCFP Board Changes Bankruptcy Rules
With the difficult economic situation the last few years, bankruptcy filings for CFP professionals have been on the rise. Historically, the CFP Board has had strict guidelines limiting anyone who has filed bankruptcy from getting the CFP certification. However, effective July 1, 2012, the CFP Board is implementing a new bankruptcy rule applicable to all…
Read MoreCFP Board Changes Experience Requirement
The CFP Board has recently altered a key component to CFP certification – the experience requirement. Previously, those seeking CFP certification were required to gain three (3) years of relevant financial planning experience prior to the CFP Board of Standards issuing the CFP marks. On September 1, 2012, the Board will now recognize two (2)…
Read MoreHow Has the CFP Board Changed the Education Reporting Process?
The Certified Financial Planner Board of Standards has updated the way student completion of educational programs, such as ours, are reported. Previously, when students would complete their CFP® Certification Education, the process for reporting that completion would be as follows: Students receive a letter of completion from their educational provider Students send the letter of completion to the…
Read MoreThe Financial Plan Development Course Now a Requirement of All CFP Educational Programs
Happy New Year! We hope you are off to a great start in 2012! As you may know, 2012 is a year of changes for CFP Educational Programs. This online financial planner program is no different. Over the recent months, the consortium of university partners working closely with the wealth management industry leader, Greene Consulting,…
Read MorePart 3: How Do the New CFP Certification Education Requirements Impact CFP Board Exam Challengers?
How Do the New CFP® Certification Education Requirements Impact Exam Challengers? Before answering the question, let’s first address what is an “exam challenger”? Most people who hold the CFP® Certification have gone through the process of enrolling in and completing an educational program at an approved institution. However, if you meet certain requirements, such as holding…
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