Additional Information
There are currently no educational standards for financial planners. Almost
anyone can put up a sign and call him or herself a financial planner.
However, without some form of training, experience or credentials, reputable
firms won't likely hire you and clients won't likely use your services. Because
of this, there is a path that financial planners typically follow.
There is one professional designation for financial planners in the U.S.:
certified financial planner (CFP), offered through the Certified Financial
Planner Board of Standards.
The CFP designation is internationally recognized. In order to become a
CFP, candidates must complete an education program accredited with the Certified
Financial Planner Board of Standards.
Programs range in length and intensity. Typical courses include investments,
estate planning, individual income tax, retirement planning, risk management,
insurance and finance.
Students may have their transcripts reviewed for approval if they've taken
courses that aren't actually listed with the board.
Candidates must then pass the Professional Proficiency Examination (PPE)
and gain work experience before applying for CFP certification. Following
certification, CFPs must demonstrate ongoing ethical practices. They are also
expected to complete 30 hours of continuing education each year.
There are a number of universities, colleges and institutes in 32 states
that offer courses of study, which meet the requirements of the Board of Standards.
Some students may choose to pursue the CFP designation in a traditional
college setting. Others may pursue their studies in a self-study program.