CERTIFIED FINANCIAL PLANNER™

CFP® professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® professional, an individual must fulfill the following requirements:

Education - Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. CFP Board implemented the bachelor’s degree or higher requirement in 2007 and the financial planning development capstone course requirement in March 2012. Therefore, a CFP® professional who first became certified before those dates may not have earned a bachelor’s or higher degree or completed a financial planning development capstone course.

Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations.

Experience – Complete 6,000 hours of professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements.

Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP® professionals.

Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board Certification Marks:

Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® professional's services. A client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the client.

Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards.

MBA

MBA stands for Master of Business Administration. A Master of Business Administration is a graduate degree focusing on business administration and investment management. MBA programs in the United States typically require completing an additional forty to sixty credits.

Qualified 401(k) Administrator (QKA)

The Qualified 401(k) Administrator (QKA) credential is the national standard for all professionals working with 401(k) retirement plans. Attaining the QKA Credential showcases mastery of the two fundamental aspects of 401(k) plan administration; Plan Management and Testing & Compliance. It takes between 80 to 200 hours of study to earn the credential and the average time to complete the credential is roughly 18-months.

Qualified Pension Administrator (QPA)

The Qualified Pension Administrator (QPA) credential demonstrates expertise of administrative issues of defined benefit plans. QPAs assist employers, actuaries, and consultants in performing functions such as determination of eligibility benefits, computation of benefits, plan recordkeeping, trust accounting and disclosure, and compliance requirements. Candidates must earn a passing a score of 70% on the QPA proctored exam.

Certified Pension Consultant (CPC)

The Certified Pension Consultant (CPC) is ASPPA's highest credential. CPCs are an elite group of benefits professionals who have demonstrated a mastery of all aspects of qualified plans. In order to receive a CPC designation, candidates first have to meet the prerequisites. After satisfying the prerequisites, CPC candidates have to fulfill the requirements for the qualified pension administrator program. This requires passing a set of six exams. Next is a test covering six CPC modules, including four core subjects and two electives. Finally, there is the CPC exam. This consists of eight essay questions on business entities, coverage and non-discrimination, 401(k) plans, defined benefit plans, distributions and loans, fiduciary responsibilities under ERISA, ethics and plan design.

Certified Plan Fiduciary Advisor (CPFA)

The Certified Plan Fiduciary Advisor (CPFA) credential – developed by some of the nation's leading advisors and retirement plan experts – demonstrates your knowledge, expertise and commitment to working with retirement plans. Plan advisors who earn their CPFA demonstrate the expertise required to act as a plan fiduciary or help plan fiduciaries manage their roles and responsibilities. The CPFA® exam is a 70-question multiple choice exam that assesses a candidate’s knowledge of key retirement plan concepts commensurate with professional retirement plan advisor standards. Candidates must earn a passing score of 70% or greater on the CPFA® exam to qualify for NAPA CPFA® credentialed membership.

Accredited Investment Fiduciary® (AIF®)

The Accredited Investment Fiduciary® (AIF®) Designation is a professional certification that demonstrates an advisor or other person serving as an investment fiduciary has met certain requirements to earn and maintain the credential. The purpose of the AIF® Designation is to assure that those responsible for managing or advising on investor assets have a fundamental understanding of the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility. In order to become an AIF® Designee, candidates must complete the following requirements: Enroll in and complete AIF® Training that satisfies AIF® Training requirements; Pass the AIF® Examination; Meet the experience requirement (prerequisites); and Satisfy the Code of Ethics and Conduct Standards.

Chartered Retirement Planning Counselor (CRPC^®)

The Chartered Retirement Planning Counselor^SM, or CRPC^® program, is a designation program for financial professionals. This program enables experienced advisors, who are focused on retirement planning for individuals, define a “road map to retirement.” There is a focus on clients’ pre- and post-retirement needs, as well as issues related to asset management and estate planning.

Students have 120 days from the date they are provided online access to complete the designation program (including testing and passing the Final Exam). The Final Exam for the CRPC^® program contains 85 questions and students have an allotted time of 3 hours to take the Final Exam.

Financial Paraplanner Qualified Professional™ (FPQP^®)

The College of Financial Planning gives students an opportunity to earn this designation.  This designation program is an ideal launchpad for a career in the financial services profession and also a great way to increase the insight and knowledge of those who have been working in the profession. It is designed for new professionals entering the financial services industry, as well as frontline employees and support staff with some industry experience looking to deepen their foundational knowledge.

It is an online self-study course and exam to be completed within 120 days of receiving program access.  Continuing education is required to maintain the designation.