How to Become a CFP® Professional (Without Losing Your Mind)

Having CFP® marks after your name is the financial planning credential equivalent to having a big gold star. It's the only globally recognized standard for excellence in the field of financial planning and it practically screams, "I know what I'm doing with your money!" (Which is helpful because actually screaming this to prospective clients may be off-putting). But before you get the credential, you need to meet the CFP® requirements set by CFP Board.  

Here's a quick roadmap of the CFP requirements but keep reading if you want the guided tour with all the fun insider details.  

And, if you have another credential, like you're a licensed CPA or CFP® Charterholder, hang tight—we'll show you the short cut!

Learn how to become a CFP:

1. Education requirements

2. Exam requirements

3. Experience requirements

4. Ethics requirements

5. What are the Accelerated Path CFP® certification requirements?

6. Start earning your CFP® credential

CFP® Certification Requirement #1: Education

Your journey starts, not in the jungle or on the savannah, but in a place far more perilous…The classroom. First, you need to meet the CFP® Education requirements.

Earn a Bachelor’s Degree (Any Major Will Do!)

You do need a bachelor's degree or a higher, but it doesn't need to be in finance, accounting, etc. CFP Board is surprisingly cool with you having a bachelor’s degree in literally anything. History? Theater? Biomedical Engineering? Yup, they count. Just make sure your degree comes from an accredited college or university. 

Oh, and you can pass the CFP® Exam before earning your degree, but you MUST have that diploma in hand within five years of passing. 

Complete CFP Board-Approved Coursework 

You also need to complete a CFP Board-Registered Education Program to meet your CFP® requirements (cough like the one from Boston Institute of Finance cough, cough). This is often the longest leg in your journey with a series of in-depth courses that teach you everything you need to know about topics like:  

• Financial planning foundational know-how 
• Insurance planning and risk management 
• Investment planning 
• Tax planning 
• Retirement planning and employee benefits 
• Estate planning  

You’ll also complete a Capstone Course at the end of your CFP® education which sounds fancy but is really just a practical project where you use case studies and client scenarios to show that you understand and know how to apply everything you learned in your coursework.  

BIF's Instructor-Led CFP® Education program teaches what you need to know while keeping you on track and accountable so you're ready for the next leg of your journey.  

CFP® Certification Requirement #2: Exam

Ah, the CFP® Exam. While meeting the CFP® requirements in education and coursework is the longest stretch of the journey, at least it's generally smooth terrain. The CFP® Exam is another story. This is where you prove that you not only know everything covered in your coursework and you also know how to apply it to work with clients. It's not a walk in the park, and without the proper preparation, you may not make it through. Here’s what you need to know: 

• Duration: Two 3-hour sessions with a total of 170 multiple-choice questions.  
• Scoring: Good news: you just need to hit the pre-determined minimum passing score (called the “cut score." The bad news? No one knows what the cut score is.) 
• Content Areas: Questions are divided into 8 principal knowledge topics  
  

The BIF Review CFP® Exam prep course gets you ready to traverse the unforgiving terrain and avoid the traps and dodge the quicksand.  

CFP® Certification Requirement #3: Experience

Book smarts are great, but you also need the street smarts (or whatever the financial planning equivalent is). To meet your CFP® requirements, CFP Board wants to see financial planning experience, which can be fulfilled within: 

• 10 years prior to passing the CFP® Exam or  

• 5 years afterward.  

There are two pathways to meet this requirement:

The Standard Pathway (6,000 hours)

Think of this as the "slow and steady" route. You’ll complete 6,000 hours (about three years of full-time employment) of professional experience in tasks that fall into at least one of these seven areas of financial planning: 

• Understanding the Client’s Personal and Financial Circumstances 
• Identifying and Selecting Goals 
• Analyzing the Client’s Current Course of Action and Potential Alternative Course(s) of Action 
• Developing the Financial Planning Recommendation(s) 
• Presenting the Financial Planning Recommendation(s) 
• Implementing the Financial Planning Recommendation(s) 
• Monitoring Progress and Updating 
• And you must earn this experience through one of these methods:  
• Personal engagement with clients 
• Support of financial planner and/or financial planning process 
• Supervision of financial planner and/or financial planning process 
• Internship or Financial Planning Association (FPA) residency 
• Instruction of post-secondary financial planning courses   

2. The Apprenticeship Pathway (4,000 hours) 

Want the speed-run option to meet the experience part of your CFP® requirements? While you only need 4,000 hours (about two years of full-time employment), your work must be direct client engagement, supervised by a CFP® professional who can attest to your work, and include all seven primary areas of the personal financial process:  

• Understanding the Client’s Personal and Financial Circumstances 
• Identifying and Selecting Goals 
• Analyzing the Client’s Current Course of Action and Potential Alternative Course(s) of Action 
• Developing the Financial Planning Recommendation(s) 
• Presenting the Financial Planning Recommendation(s) 
• Implementing the Financial Planning Recommendation(s) 
• Monitoring Progress and Updating 

Listen up: The BIF Bites Podcast, Young Vs Experienced: Two Types of CFP® Students 

CFP® Certification Requirement #4: Ethics

You're almost done with your CFP® requirements, and the destination is in sight. You just have to meet the ethics requirement, and unless you have either committed a bunch of crimes or plan to after you earn your marks, this should be pretty easy. Here’s the breakdown: 

The Fast Track to Meeting Your CFP® Certification Requirements

Remember that shortcut we mentioned earlier? First, do you have one of these advanced degrees or designations?

• Certified Public Accountant (CPA)  
• Chartered Financial Analyst® (CFA®)  
• Chartered Life Underwriter (CLU) or Chartered Financial Consultant (ChFC)  
• Ph.D. in Financial Planning, Finance, Business Administration, or Economics  
• Licensed Attorney 
• International CFP® Certification 

If you have other credentials or certain advanced degrees, you may be able to meet most education requirements. CFP Board will let you know if you're eligible. Here’s all you’ll need to do to meet the CFP® requirements on the accelerated path: 

1. Create a CFP Board Account (because paperwork is unavoidable).  
2. Submit Credential Documentation to the CFP Board.  
3. Complete the Capstone Course (don’t worry, it’s just one course).  
4. Pass the CFP® Exam (no exceptions here!).  
5. Complete the Experience Requirement, choosing either the 6,000 or 4,000-hour path.  

Getting Through the CFP® requirements Is Worth It  

Yes, meeting the CFP® certification requirements is a hard and arduous journey, but it’s worth it. Earning your CFP® marks doesn’t just boost your career. You become the guide your clients need, helping them navigate the dangers and pitfalls of personal finance and making sure they arrive at their destination in one piece!  

But the higher earning potential and added credibility are pretty sweet, too.  

Meet your CFP® Certification Requirements with BIF  

If you’re on a quest for top-notch CFP® Education coursework or want smooth sailing with an industry-leading exam prep course, look no further. With streamlined content, expert-led material, and instructor-led programs to keep you focused and accountable on your journey, BIF can help you meet your CFP® requirements in less than a year! 

Want to learn more?  

Connect with a Student Advisor today to learn how our streamlined content and subject matter experts