CFP Board Proposes Revisions to Competency Standards: What CFP® Professionals Need to Know
CFP® Board Updates
The CFP Board recently announced proposed revisions to its Competency Standards, a move that signals an evolution in how financial planning proficiency is defined, maintained, and demonstrated by CFP® professionals. While the standards have long supported the integrity of the designation, these updates aim to align certification more closely with real-world client needs, technological advancements, and the evolving demands of the profession.
Why the Revisions, and Why Now?
According to the CFP Board, the proposed revisions are part of a multi-year effort to ensure that the certification remains “future-ready.” The financial planning profession is not static — it’s increasingly shaped by behavioral finance, technology integration, shifting regulatory frameworks, and broader demographic changes in client populations. The updated Competency Standards aim to reflect this reality by:
- Modernizing how initial certification requirements are assessed
- Strengthening continuing competency expectations
- Clarifying expectations around both technical and non-technical skills
Key Proposed Changes
While the full draft is open to public comment through September 2025, the key highlights include:
- Refinement of “entry-level competence”: A clearer framework around the knowledge, skills, and abilities a newly certified CFP® professional must demonstrate to begin practice effectively.
- Expanded guidance on continuing competency: Recognition that staying current requires not only technical education, but also development in areas like ethics, communication, and client psychology.
- Integration of qualitative competencies: Emphasis on soft skills such as listening, empathy, and behavioral coaching — essential for effective financial planning.
These proposals are structured to support not only candidate preparation, but also the firms and educators involved in CFP® training and development.
Implications for CFP® Professionals
For those already certified, the revisions don’t represent an overhaul, but they do signal a continued expectation of growth and adaptation. The updates underscore the need for:
- Lifelong learning beyond technical updates — including areas like the psychology of financial planning
- Stronger integration of client-centric communication skills into daily practice
- Mentorship and education alignment for professionals developing future CFP® candidates
Importantly, the revisions are not yet final. The CFP Board has opened a public comment window and encourages professionals, educators, and other stakeholders to review the proposed changes and submit feedback.
How to Engage
The CFP Board is soliciting public feedback through its official consultation platform. Practicing CFP® professionals — especially those involved in mentorship, firm leadership, or education — are strongly encouraged to participate.
You can view and comment on the proposed standards here:
https://www.cfp.net/news/2025/06/cfp-board-seeks-public-comment-on-proposed-revisions-to-competency-standards
Bottom Line
These proposed revisions represent an important moment for the profession. They reflect a commitment to modernize and uphold the high standards that distinguish CFP® professionals — not only in technical knowledge, but also in the quality of relationships and trust they build with clients.
CFP® certification is about more than passing an exam. It’s about delivering on a promise of excellence. And that promise evolves — just as the profession does.
