To all the financial advisors: why CFA? why not CFP?

Turkish Wrote:
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> I know a bunch of HNW advisors with CFA, CFP on
> the biz card. A couple of them are CAs as well.
>
> For some reason they list it as follows: CA, CFA,
> MBA, CFP
>
> Impressive, I know?
That’s insane. But beyond the CA and CFA I don’t really get impressed per se by an MBA or the CFP.
CA is a good des, I won’t compare it to CFA as they are very different beasts, but it’s probably the only one I’d ever consider beyond CFA, but it’s not of much use to me.
Some of those insurance salespeople have Alphaghetti after their name….it’s ridiculous
 
no high net worth individuals know what a CA is, very few know what a CFA is. CFP despite being easier is better known thanks to WSJ and business week who say you should look for a FA with a cfp (rarely do they mention the cfa). if being a FA is your life’s work i suggest not wasting your time. The cfa does open other carreer opportunities for a FA with a decent size book though.
 
The CFP is just one examination (3 tests on two days?)? Seems fairly easy to get so why wouldn’t everyone get one? Also you do need a college degree for the certification but can take the test and pass while still in college.
 
Because anyone not doing “financial planning” has no reason for one, I doubt any clients of mine care about disability insurance, they just want their investments dealt with. And if they do care, they can go talk to someone else about it as I have no desire to get involved with that stuff anymore.
And as far as the exam, it is just one exam over a time period…meaning no levels that you must get through, just a single score on a single exam. I know it is not a cakewalk, but come on is this gonna turn into one of those “The Series 7 is tough man” type of things?
 
How would u guys compare Series 7/88/63/66 with CFA? My roommate was studying for those and he said the difficulty is comparable to CFA L1
 
I found the 66 to be very challenging because it was mostly legal stuff and I am a numbers guy…but you cannot compare any of the NASD exams to the CFA (or even the CFP)…not in the same ballpark.
 
All things (level of difficulty, prestige and the feeling of fulfillment….) considered….
CFA is like a Carrera; CFP is like a Camry…
 
AlphaSeeker Wrote:
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> All things (level of difficulty, prestige and the
> feeling of fulfillment….) considered….
>
> CFA is like a Carrera; CFP is like a Camry…
I wonder what people on CFP message boards say about the CFA. Is there a CFP message board? I can’t seem to find one.
 
XSellSide Wrote:
——————————————————-
> AlphaSeeker Wrote:
> ————————————————–
> —–
> > All things (level of difficulty, prestige and
> the
> > feeling of fulfillment….) considered….
> >
> > CFA is like a Carrera; CFP is like a Camry…
>
> I wonder what people on CFP message boards say
> about the CFA. Is there a CFP message board? I
> can’t seem to find one.
They’re too busy selling credit cards and crappy mutual funds to be on a message board! Zing!
 
wow, i think someone just nailed it. Series 7 and 66 are a joke. I have both, if you have a weekend you are fine. 66 is 100question test, whoopdey doo. C’mon now.
 
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