CFP®, CERTIFIED FINANCIAL PLANNER® and ® are trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. The Financial Planning Institute of Southern Africa is the marks licensing authority for the CFP Marks in South Africa through agreement with FPSB. Please visit the www.fpsb.org

 

    

    

    

   

Most people think that all financial planners are "certified," but this is not true. Anyone can call himself or herself a "financial planner." Only those who have fulfilled the certification and renewal requirements of the FPI can display the CFP® mark. When selecting a financial planner, you need to feel confident that the person you choose to help you plan for your future is competent and ethical. CFP® certification provides that sense of security by allowing only those who meet the following requirements the right to use the CFP certification marks.

CFP® Certification Requirements

Education: CFP® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by the FPI or showing the attainment of certain relevant professional qualifications/academic degrees.

Examination: CFP® professionals must pass a comprehensive CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the personal financial planning process, risk planning, tax planning, employee benefits and retirement planning, estate planning, investment management and health insurance.

Experience: CFP® professionals must have three years minimum relevant practical experience in the financial planning industry prior to earning the right to use the CFP® mark. As a result, CFP® professionals possess financial counseling skills in addition to financial planning knowledge.

Ethics: As a final step to certification, CFP® professionals agree to abide by a strict code of professional conduct, known as FPI’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. Each individual must disclose any investigations or legal proceedings related to their professional or business conduct during the application process and declare that they are in good standing.

How does FPI’s Code of Ethics Benefit me?

Through the Code of Ethics, CFP® professionals agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP® professionals are to act with integrity, offering you professional services that are objective and based on your needs. They are required to provide you with information about their sources of compensation and conflicts of interest in writing.

Ongoing Certification Requirements

Once certified, CFP® professionals are required to maintain technical competence and fulfill ethical obligations. Every two years, they must complete a minimum of 60 hours of continued professional development (CPD) to stay current with developments in the financial planning profession and better serve their clients. Five of these hours must be earned from Ethics and Practice Standards (e.g. compliance) with at least 2 hours being compulsory for Ethics.  In addition to the bi-ennial CPD requirement, all CFP® professionals voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against them every year when renewing membership of the FPI.

Using the CFP^® Mark

Please refer to the complete guide for the use of the CFP® Mark and Annexture A for examples of the correct use of the CFP® Mark.