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In order to receive CFP® certification, you must fulfill the following criteria:
1. Complete Educational Requirement*-this can be fulfilled in one the following ways:
- Complete a CFP® Certificate Program. Please visit the website at N.C.State University to obtain information about their Certificate Program, with classes taught by Mary Cardello.
- Challenge your status. The following degrees or credentials will enable you to sit for the CFP® Certification Examination. Click here for more information about challenging your status
-Certified Public Accountant (CPA)
-Law degree (JD)
-Chartered Financial Analyst (CFA®)
-Ph.D in business, economics, or business administration
-Charted Financial Consultant (ChFC)
-Chartered Life Underwriter (CLU)
- Request a review of your credentials. You may request that the CFP® Board review your transcript, as certain credentials and courses may satisfy requirements. Please click here for more information on how to complete this process.
2. Take the CFP® Certification Examination-the national first time pass rate averages only 62%.
Please consider taking a Review Course offered by the Financial Planning Education Center in order to improve your chances of passing on the first attempt. Click here for a list of test dates. For more information about the Certification Examination and its scoring system, please see this article in the Journal of Financial Planning.
3. Gain experience-you will need at least three years of full-time work experience in one of six areas of the financial planning process. Please click here for further information on gaining the required experience.
4. Pass a Background Check-you must submit to a background check and disclose past litigation proceedings and agree to abide by the CFP(r) Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards.
4. Pay Certification Fees and Authorization-you are required to pay a one-time fee of $100 as well as a biennial fee of $360. Upon completion of the previous steps you will receive authorization to use the CFP(r) and Certified Financial Planner marks.
Please visit the CFP® Board of Standards website to gain more information about the criteria for becoming a Certified Financial Planner.
*As of 2007, the CFP(r) Board will require a Bachelor's degree as a minimum educational requirement for CFP(r) Certification.
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