What does it take to earn and maintain the CFP designation?
The CFP four-step qualifying process includes the successful completion of a 6-hour examination that is based on regularly updated research and in-depth reviews of what planners do. The topic coverage for the exam is developed from a syllabus that outlines 166 topics and additional subtopics covering areas of: estate planning, investment planning, retirement and employee benefits planning, insurance planning, income tax planning, fundamentals of financial planning and the Code of Ethics. To qualify to write the exam, the candidate must successfully complete a program of study (many of which take three years) approved by FPSC. Or they must hold a professional designation and three years experience in a field related to financial planning. Additionally, all CFP professionals must have at least two years financial planning experience (three for those qualifying to write the exam through a professional designation).
