How Financially Resilient Were Americans During the Pandemic?

CFP® Certificants in the News You may be surprised by some of the conclusions drawn about our financial resilience as a nation according to an article posted in CFP Board’s FINANCIAL PLANNING REVIEW dated May 12, 2022. We’ll frame this discussion in three parts: Context, Methodology, and Findings. Context According to the article, “the economic…

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The Psychology of Financial Planning

CFP® Certificants in the News Rational clients seem to make irrational financial decisions to the puzzlement and frustration of financial advisors. Why? One school of thought blames our emotions for our financial miscues.  Regrettably, we are not always self-aware of the power wielded by our sub-conscious emotions in the following behaviors and more: The buy-high/sell-low…

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Prepare for the CFP Board Exam

CFP® Certificants in the News You’re completing or have just completed the coursework required to take the CFP Board exam (the exam). Now what? Here are the potential next steps for you: Respect the exam’s breadth and depth, Budget your study time, Register for the exam, Use CFP Board resources, and Take a review course.…

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Protecting Public Trust with CFP Board Discipline

CFP® Certificants in the News Financial advisors, financial planners, and their employers have a vested interest in preserving, if not building upon, public trust in CFP® Certification. This article will focus on a specific interim suspension that, if anything, may initially err on the side of protecting public trust while ultimately providing a just result…

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CFP Board Pass Rates—July 2022 Exam

CFP® Certificants in the News This article will summarize pass rates, note consistency with prior exam results, and highlight demographics related to the July 2022 CFP Board exam. We begin with pass rates. Consistency First-time exam takers scored an average of 69%, compared to 67% (March 2022) and 62% (November 2021), and Repeat exam takers…

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Clients Are Not Locked Into High-Tax States

CFP® Certificants in the News encourages membership in the Financial Planning Association. Later in this article, we will reference a highly topical article appearing in the Journal of Financial Planning. We will feature a strategy that high-income clients can use to slash their state income tax rates in this report. But first, let’s admit that…

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Get In Trouble with the SEC — You’re In Trouble with CFP Board

CFP® Certificants in the News CFP® certificants licensed to sell securities are subject to SEC’s Regulation Best Interest (Reg BI) if they make recommendations to retail customers. This article illustrates the reach of Reg BI into potential CFP Board discipline. Here’s the game plan: Identify key terms, Disclose SEC involvement in a Reg BI violation,…

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Financial Planning and Happy Marriages

Good to Know Question: What can be a more common cause for divorce than infidelity? Answer: Unresolved money conflicts.1   While being on the same page over money may not guarantee the coveted fiftieth anniversary, fighting over money can undermine marriages well before the golden anniversary. The issues vary, but communication around marital finances can…

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Get the CFP® Certification: 3 Key Reasons

CFP® Certificants in the News CFP® Certification is fast becoming a “must-have” designation for at least three reasons: Client awareness, Fiduciary Ethical Standard, and Doing well by doing good. Client Awareness An impressive 83% of consumers are aware of the CFP® Mark,1 far outstripping consumer awareness of other financial planning designations. CFP Board played a…

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Independent RIAs: Three Trends to Thrive

CFP® Certificants in the News CFP Board reports in its March 24, 2022 article that “Registered investment advisor (RIA) firms are an important factor in the future of the financial planning profession…” The article discusses how three trends offer independents a path to continued growth including: Hyper-specialization, Increased personalization and Digitalization. The text in quotation marks…

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