Your CPA license already opens a lot of doors in the accounting and finance profession, which is awesome, but becoming a CERTIFIED FINANCIAL PLANNER® (CFP®) is a smart career move to advance your opportunities. So, let's talk about how a CPA and CFP® certification is a match made in financial services career heaven (which may or may not be a place, but we think it is).
If you're wondering what CPAs and CFP® professionals are exactly, how these two credentials work together, or how a CFP® certification can benefit your career, settle in—we've got all the answers (related to becoming a CFP® professional, that is...not like allllll the answers about life, the universe, and everything).
The Basics on the CPA and CFP® credentials
First, we're going to level-set and tell you about what having a CPA license and CFP® certification actually means. You should hopefully know what a CPA license is if you have one, but we always like to start with some foundational information, just in case.
What is a CPA?
A Certified Public Accountant has passed the CPA Exam and fulfilled experience, ethics, and educational requirements to prove expertise and advanced skills in accounting, taxation, and audit. The license is issued by a state board of accountancy and is required to represent clients before the IRS, certify financial statements, and sign off on external audits. Basically, you're the backbone of financial accountability.
CPAs specialize in areas like:
- Tax planning and preparation
- Auditing and assurance services
- Financial accounting preparation
- Consulting and strategizing on matters related to finance, taxation, and internal controls
What is a CFP® Professional?
A CERTIFIED FINANCIAL PLANNER® has passed the CFP® Exam, completed CFP Board's coursework and education requirement, and has met the ethics and experience requirements (sound familiar?). Like the CPA license is the gold standard for accountants, the CFP® certification is the gold standard of financial planning.
CFP® professionals focus on working with clients to build holistic, comprehensive financial strategies that help them meet long-term financial goals, from saving for retirement to planning estates. Think of them as the portfolio pilots and cashflow cartographers, putting every penny to work to make sure clients achieve their financial destination.
CFP® professionals specialize in areas like:
- End-to-end, holistic financial planning
- Retirement income planning
- Estate planning
- Tax-efficient investment strategies
- Insurance and risk management
Now, here's where it gets interesting. The skill sets of CPAs and CFP® professionals overlap in a big way, especially when it comes to tax implications and financial goals. Which leads us to...
How CPA and CFP® Credentials Complement Each Other
If the CPA designation is the left brain of finance—all numbers, logic, and compliance, the CFP® certification is the creative right brain—strategy, vision, and goals. Combine the two? It's the financial services credential equivalent of peanut butter and jelly—great on their own, but better together.
Here are a few examples of how being a CPA and CFP® professional work together:
Building more client-specific tax strategies
With your CPA license, you've proven you already have comprehensive tax knowledge and excel at understanding tax implications. A CFP® certification helps you incorporate your insights into more holistic and comprehensive financial plans.
Long-term Planning
Again, as a CPA, you know the tax side of financial planning, whether it's related to capital gains or estate and gift taxes. Adding a CFP® certification incorporates the other elements of estate planning, investment planning, and other elements into a broader roadmap.
Client Engagement
Both CPAs and CFP® professionals advise clients on financial matters but having both the accounting and financial planning acumen means you can offer a full-spectrum service that addresses both immediate and future financial needs.
Adding CFP® marks as a CPA isn't just about increasing your knowledge or padding your resume; it's about expanding your toolkit to serve clients in deeper, more meaningful ways.
Why You Should Have Both a CPA and CFP® Certification
Thinking about taking the CFP® plunge? Here’s why it’s worth the effort:
More Services and Offerings = More Clients
With a CPA certification, you’re a master of compliance. With a CFP® certification, you’re a master of strategy. We can’t state enough, pairing the two means you can help your clients with everything from tax returns to managing assets and building a retirement portfolio, making you the go-to expert for all things related to tax and financial expertise.
Boosted Credibility and Trust
Adding CPA and CFP® after your name signals to current and potential clients that you’ve put in the work and are serious about comprehensive accounting and financial planning knowledge. They’re both marks of credibility that reassures clients you can handle the whole spectrum of their financial needs.
Year-Round Engagement
Instead of the ebb and flow that comes from solely offering accounting and tax services, wouldn’t it be nice to have more consistent, year-round client engagement (The correct answer is “yes”). People need financial planning services all year long, and it isn’t tied to calendar deadlines, so you’ll get a steadier income and more touchpoints with clients that build loyalty and relationships.
Career Opportunities When You Have a CFP® Certification and CPA License
Okay, so does having both your CPA license and CFP® certification offer more career opportunities? Yes. That’s why we included this section.
If you are already working at a firm or want to make that shift, larger CPA firms are expanding to offer financial planning divisions, and who would they look at for leadership roles, like Director of Financial Planning or Director of Tax Planning? You (assuming you have your CPA and CFP® certification).
Meanwhile, multi-service financial firms love having a CPA with their CFP® certification because of their versatility and tax knowledge (and ability to bill at a higher rate). You could work with owners or partners in pass-through businesses to build tax-advantageous strategies and estate plans, manage client portfolios with a keen eye on tax implications, or work in wealth management and advisory services merging tax compliance with investment strategies.
Or, if you want to start your own business (or expand your current one), with both certifications, you can launch a practice offering comprehensive tax and financial planning services, carving out a niche that bridges the gap between compliance and strategy.
The Accelerated Path to CFP® Certification for CPAs
Here’s the best part. If you’re already a CPA, you can fast-track your way to becoming a CFP® professional by taking the CFP® accelerated path.
Normally, CFP® candidates have to complete a CFP Board-approved education program consisting of numerous, in-depth courses. This ends in a Capstone project where candidates show they know how to apply all that knowledge to real-world scenarios.
But CPAs? You get to skip the months of coursework entirely and go straight to the Capstone Course because your CPA expertise already proves your depth of financial knowledge. If that’s not a win, what is? You’ll still need to meet the other CFP® certification requirements —passing the exam, gaining experience, and upholding ethics, but it’s a lot quicker.
Here’s what the Accelerated Path looks like for CPAs:
- Capstone Course: A two-to-six-week project-based course to practice real-world financial planning (BIF students usually do it in two weeks!)
- CFP® Exam Prep: Two to six months of studying for one, 170 multiple-choice question exam
- Experience Requirement: 4,000 hours in an apprenticeship or 6,000 hours of relevant financial planning experience. Sound manageable? That’s because it is.
Pro tip: You can get started with CFP® Board by creating an account and submitting proof of your CPA license. After review, you’ll be given the green light to climb aboard the fast track.
Bonus for CPAs—Meeting CE Requirements
After you earn your CFP® certification, you’ll need to meet the CFP® CE requirements. Fortunately, you’ll already need continuing professional education to maintain your CPA license, and you can double dip by taking CPE courses that satisfy both requirements. It’s basically a two-birds-one-stone situation.
BIF Helps CPAs Fast Track CFP® Certification
BIF makes it even easier to complete the CFP® accelerated path. With our CFP® Board-registered Capstone and leading CFP® Exam prep course, The BIF Review, you can be ready for certification in just a few months! Your next chapter begins today. Are you ready? Connect with a student advisor to take the first step.
