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CERTIFIED
FINANCIAL
PLANNER
CERTIFIED FINANCIAL PLANNER certification is the only globally recognized symbol of excellence for financial planning. Financial Planning Standards Board Ltd. (FPSB) and its network of affiliate organizations administer, or are preparing to administer, the CFP certification program globally in 27 countries and territories. At the end of 2022, there were over 213,000 CFP professionals worldwide.
The CERTIFIED FINANCIAL PLANNER credential is the most desired and respected global certification for those seeking to demonstrate their commitment to competent and ethical financial planning practice. CERTIFIED FINANCIAL PLANNER professionals meet initial arid ongoing education, experience and professional development requirements, pass a rigorous exam that assesses competency, and adhere to a code of ethics, pledging to provide financial planning in the interests of clients and with the highest ethical and professional standards.
Certified Financial Planners help their clients in choosing investments. retirement plans, tax strategies, and insurance coverage. The main role of CFPs is to research fresh investment opportunities and to examine various kinds of financial data.
VALUE
OF CFP
CERTIFICATION
By completing internationally recognized initial and ongoing CFP certification requirements, a CERTIFIED FINANCIAL PLANNER professional demonstrates to clients and potential clients a commitment to professionalism and that she or he has met rigorous competency, ethics and professional practice standards to provide comprehensive financial planning services. CFP certification benefits a variety of individuals and groups. including
KEY
TAKEAWAYS
A certified financial planner (CFP) has received a formal designation from the Certified Financial Planner Board of Standards, Inc. CFPs help individuals in a variety of areas in managing their finances, such as retirement, investing, education, insurance, and taxes. The most important aspect quality of a CFP is that they have a fiduciary duty, meaning they must make decisions with their client's best interests in mind.
UNDERSTANDING A CERTIFIED FINANCIAL PLANNER (CFP)
CFPs are there to help individuals manage their finances. This can include a variety of needs, such as investment planning, retirement planning, insurance, and education planning. The most important aspect of a CFP is to be a fiduciary of your assets, meaning that they will make decisions with your best interests in mind.
CFPs are all-encompassing, particularly when compared to investment advisors. CFPs will usually start the process by evaluating your current finances, including any cash, assets, investments, or properties, to come up with an estimate of your income and net worth. They also take a look at your liabilities, such as mortgages and student debt.
From this point on they work with you to come up with an individualized financial plan. For example, say you are nearing retirement, the CFP will create a financial plan that can see you through your retirement years. Or perhaps you have a child that will be starting college. The CFP can help create a financial plan to manage that cost.
A CFP is a financial adviser who has earned a certification that indicates in - depth knowledge of financial planning. The requirements to become a CFP are some of the most difficult and stringent in the financial industry.