About The Certified Financial Planner (CFP) Designation

The CERTIFIED FINANCIAL PLANNER® designation is the mark of quality for professional personal financial planning internationally.

A professional who uses the CFP® mark (also CERTIFIED FINANCIAL PLANNER® ) identifies that he has met rigorous ethics, competency and professional practice standards.

Membership of the Financial Planning Institute at this level of membership can only be bestowed by the FPI when a candidate satisfies various criteria in four areas, namely: Education, Examination, Experience and Ethics.

Education

Studies must be completed at a college or university that offers a curriculum approved by the Financial Planning Institute. Currently the Post Graduate Diploma and the B. Com Honors in Financial Planning (NQF level 7) are approved.

After certification, CFP professionals are required to complete 60 hours of professional development per two year cycle in order to stay current with developments in the profession.

Examination

A comprehensive CFP certification examination that tests the candidates’ ability to apply financial planning knowledge must be passed. The examination covers the financial planning process, risk planning, tax planning, employee benefits and retirement planning, estate planning, investment management and health insurance.

Experience

A minimum of 3 years relevant experience is required before a professional may use the CFP mark. This ensures that besides financial knowledge, the CFP professional possesses the necessary financial counseling skills.

Ethics

CFP Professionals agree to abide by a strict code of ethics. The CFP Board also performs a background check and requires disclosure of any investigations or legal proceedings relating to their professional or business conduct.

The code of ethics requires that the CFP professional act fairly and diligently and with objectivity – giving advice based on your needs.

In short, a CFP professional offers you the confidence that you are getting sound, professional advice. Can you afford to take any other kind of advice when it comes to your financial well-being?