Regardless of the current state of the economy, people and businesses will always need the help of certified financial planners especially during tough times where they need effective financial planning to save money. This is why if you plan to become a certified financial planner, this is actually a good move as these individuals are currently in demand. But before you enjoy all the benefits of being a CFP, you might be wondering how to become a CFP. Like other professionals, becoming a certified financial planner needs education, work experience as well as passing the certification examination.
For the education, you’ll need a bachelor’s degree in any discipline provided that you got it from an accredited school. This isn’t a requirement for the initial exam but will be necessary so you can get your certification. In fact, there are some types of work experience and college courses can be substituted for the educational requirement.If you think you qualify, you can simply pass your college transcript and a detailed history of your work experience to the CFP Board of Standards.
Then you must gather the necessary work experience, which is at least 3 years work experience within the financial planning market. In your work experience, you must teach, supervise or assist in the delivering of financial planning services so the CFP Board of Standards can consider it as an acceptable working experience.
Then you’ll need to pass the CFP examination, which is a 2-day examination done three times annually. This is during the third Friday and Saturday of March, July and November. Just be sure you apply for the examination in advance so you can reserve a slot. If you pass, then you’ll have to pass the background check, which includes criminal history, pending litigation or ethical violations.
You already know now how to become a CFP. Take the first step today and in the near future, you’ll never regret choosing this career path.