Accountants, lawyers, insurance agents and investment advisers often expand the services they offer to their clients by becoming financial planners. Certified Financial Planners must meet rigorous education, knowledge and experience standards to receive the CFP designation.

Certification

Although it is not a requirement in many states to be a financial planner, a Certified Financial Planner certification from the CFP Board of Standards shows a planner has the knowledge to provide clients complete financial planning services.

Experience

Prospective CFPs must have work experience relating to some aspect of financial planning. This experience should include the process of gathering client financial data and making financial recommendations.

Education

A minimum of a bachelor's degree is required to become a CFP. Financial planners often have degrees in finance, accounting or law. Some universities offer bachelor's or graduate degrees in financial planning.

Knowledge

The CFP examination requires extensive knowledge in over 100 topics of financial planning. Financial planners are experts in investment planning, risk management, retirement planning, employee benefits, tax planning and estate planning.

Examination

The CFP exam tests all of the knowledge areas to become a Certified Financial Planner. The test takes 10 hours over two days. The test cannot be taken until the CFP education requirements have been completed.

Source:

CFP Board: Guide to CFP Certification