What does the CFP designation really mean?  Many people don’t realize that while anyone can call themselves a “financial planner,” only those who fulfill all the requirements of the CFP Board are certified.  These rigorous requirements help consumers differentiate between financial advisors.

To earn the CFP designation, candidates must complete the “4Es”:

  • Education (a Bachelor’s degree and completion of a board certified education program)
  • Examination (TEN HOURS!)
  • Experience (3 years full-time work experience, or 2 years full-time client facing experience)
  • Ethics (detailed background check)

Only about half of all applicants pass the CFP exam, let alone all the other requirements.