The clients of the Financial Planning Association (FPA) expect their planners to be holders of the prestigious CERTIFIED FINANCIAL PLANNER™ (CFP®) qualification. Even the planners themselves understand the importance of obtaining the title of a CFP. Being a CFP will improve the reputation of a planner and will potentially impact the quality of their business growth prospects.
Getting into the program is not as easy as it once was. Applicants will now need to have an approved Bachelors or Masters Degree before they can be enrolled into the program. This move was taken to increase the professionalism of the financial planning industry and to provide better service to clients.
In Australia, it is also necessary for applicants to hold a representative status with any Australian Financial Services Licensee, and they are required to have approved practitioner experience. Besides the CFP, two other qualifications can be pursued by financial planners. These two qualifications are the Life Risk Specialist designation and the Accredited Estate Planning Strategist designation.
Due to the growing importance of having a CFP qualification, universities have offered students degrees, which are linked to the CFP program. To ensure that the courses in the universities are aligned to the CFP program, university curriculums are being revised to fulfill the requirements of the CFP program. The number of enrollments into the CFP program has also been growing consistently as this year’s enrollment has already exceeded that of last year.
Source: FPA on CFP Recruitment Drive