Planning on pursuing the Certified Financial Planner® (CFP®) designation? An excellent decision (and we're not just biased—the CFP® certification opens the door to greater opportunities and a higher earning potential)! You probably know you need to pass an exam to earn your marks, but you can't just sign up to sit for the exam. So, it's time to learn the CFP® Exam requirements and how to meet them first.
Let's get into it.
The first step to meeting the CFP® Exam requirements is creating an account with CFP Board so you can track your progress, submit documentation, and register for the exam. Technically, you don't have to start here, but 1) it's free, 2) you get access to a lot of resources, including career support, and 3) you'll need to have an account to submit proof of education and meeting the other requirements, so you may as well do it first. It's kind of a nice way to kick off your journey if you haven't already.
This is where it gets serious. CFP Board requires nearly all candidates to complete a board-registered education program before you can register for the exam. The comprehensive curriculum covers these principal knowledge topics:
These courses are designed to provide you with an in-depth understanding of the individual topics, but you'll also learn how the topics work together so you can create holistic, individualized financial plans for your clients.
The final step of the education coursework is the Capstone Course. This hands-on experience is where you prove you know your stuff and can apply what you've learned in real-world situations through case studies and client scenarios.
Once you've completed your CFP® Education coursework, including the Capstone Course, your program administrators will submit verification of your completion to CFP Board. You'll be able to see this within your online account, and once your education requirements are approved and verified, you'll receive a notification of your eligibility to sit for the CFP® Exam.
No, a bachelor's degree is not a CFP® Exam requirement. You will need it to earn your certification, but you just need to earn a bachelor's degree from an accredited college or university within five years of passing the exam. Even better, your degree doesn't have to be in a specific major!
But if you don't get your degree within the five-year window, your exam pass will be invalidated, so plan accordingly.
Maybe. CFP Board offers an Accelerated Path to CFP® Certification, where individuals with specific credentials or levels of education can skip the classes and only complete a Capstone Course from a Board-Registered provider. Basically, you don't have to sit through the classes, but you still need to prove you know your stuff.
To be eligible for the Accelerated Path, you must hold one of the following:
No, you don't need experience to sit for the CFP® Exam, but you will need it to earn your marks. Specifically, you'll need to meet one of the two options:
If you're not already working in this capacity, consider checking out CFP Board's Career Center where you can gain experience while meeting your other CFP® Exam requirements.
Want to learn more about how to become a CERTIFIED FINANCIAL PLANNER® Professional? Download our free ebook, Become a CFP® Professional with BIF and get the full look at the requirements and how BIF helps you achieve them in less than a year!