To any CFPs here....

M

mwvt9

New member
Joined
Jun 18, 2026
Messages
0
Reaction score
0
Just a reminder that passing any of the CFA exams counts towards continuing education credits for the CFP.
You can submit it on www.cfp.net after logging in and clicking on report CE. Then type “designations and licenses” into the search box and scroll down to CFA and pick the appropriate level.
Each exam counts as 60 hours, which is double the amount you need for each reporting period for the CFP. It DOES NOT however cover the mandatory two ethics hours needed.
Hope this helps.
Okay flame away CFP haters….. : )
 
I am not going to flame this…but just wanted to also point out that if you get your CFA charter you can sit for the CFP exam without taking any of its exams/courses.
 
mwvt9 Wrote:
——————————————————-
> Just a reminder that passing any of the CFA exams
> counts towards continuing education credits for
> the CFP.
>
> You can submit it on www.cfp.net after logging in
> and clicking on report CE. Then type
> “designations and licenses” into the search box
> and scroll down to CFA and pick the appropriate
> level.
>
> Each exam counts as 60 hours, which is double the
> amount you need for each reporting period for the
> CFP. It DOES NOT however cover the mandatory two
> ethics hours needed.
>
> Hope this helps.
>
> Okay flame away CFP haters….. : )
hey man this is great! thanks! 60 hrs is crazy!
 
tvPM Wrote:
——————————————————-
> I am not going to flame this…but just wanted to
> also point out that if you get your CFA charter
> you can sit for the CFP exam without taking any of
> its exams/courses.
really? no need for the prerequisite classes?
 
Yes, you can challange the exam directly if you have the charter, but unless you have a working knowledge of certain areas (estate planning, insurance, etc) you will still need to put in a little time.
Investment section will be a breeze though.
 
What kind of jobs does CFP open up for you. Yeah, I’m sure it’s financial planning for people, but how desirable are these positions (opinions may differ of course, but I’d like to hear them)?
 
in my mind, CFP doesnt really open any doors. It does give you a bump if you are into financial planning, maybe sets you apart for marketing, makes you seem like you actually adhere to a code of ethics, and might make it more attractive for planning at a company that isnt like a brokerage joint.
 
If you are an analyst I would agree with tvPM, I can’t see it opening any doors.
If you work for an RIA that works directly with clients it can definitely be a plus. Most CFPs are employed/own RIAs or work for PWM shops that do financial planning in addition to managing investments or managers.
Contrary to what you hear on these boards, there is a tremendous amount of value to be added in the planning area. The problem on AF is that people try to compare the CFA to the CFP. I don’t really understand this because the CAIA and FRM or CPA don’t get bashed here. It may be because of the slight overlap in the investment section. I can assure you that the CFA is MUCH more intense in that area. Conversely, the CFP is more intense in estate planning, taxation and insurance.
So to answer you question bchadwick, I think the CFP can add value when working directly with HNW individuals and small business owners. To most on these boards that won’t be a goal, but it is what I enjoy the most. Everyday is different, you are appreciated by your clients and work/life balance is good.
 
i am a CFP and level II candidate. i would like to get employment at some type of boutique planning firm after i try to gain some exposure in a more investment focused area. you are right that it does not open many doors, but the CFA/CFP combo aint too shabby for personal planning jobs like mwvt said.
 
I have some friends in the industry who are CFPs, and while I wouldn’t personally pay to pursue the designation, it does have value. You don’t have to be an aspiring financial advisor to benefit from learning about insurance coverage, estate planning, mutual funds, etc. This is stuff that everyone should know while planning their own finances, irrespective of what you do for a career. Of course you don’t have to sit for an exam to prove you know this stuff, but it is good stuff nonetheless.
 
I dealt with a CFP at a company called “World Source”. The guy’s name is Rich Rizi. I think he’s in managed products. The guy is good. He really know his stuff cold. If you google him, he’s published some articles in the CFP magazine.
Willy
 
thanks mwvt9…..best advice that a Hoo has ever gotten from a Hokie…I am good now until 2010 with CFP credit hours once I do the ethics 2 hours….which is nothing compared to basic L1 CFAI ethics.
 
I’m a L3 candidate, and also sitting for the CFP as well (eventually). There is some overlap, but there is no comparison in terms of the difficulty, intensity, and quality of the curriculum. While the CFP is a worthwhile certification, being involved in the program has slightly diminished my perception of the designation.
For one, half of the participant in the mandatory class ($5k) I take are not in the investment business at all. There are teachers, engineers, electricians, etc….Though I respect their desire to learn a new trade, and diversify their skill set, it turns the class into a worthless jumble of facts, figures, and percentages.
I figured there would be more applicable knowledge offered in these sanctioned classes. Perhaps a study on how to analyze a portfolio, dealing w/ clients, determining asset allocation based on risk tolerance (ability and willingness), income, family situation, etc. They sell us overpriced books obviously written by people who are not in finance. The goal of the classes seems to be to prepare us for a tax code exam, which will almost certainly be changed by the time of the exam. Also, the CFP board advises us not to offer tax advise due to the liability associated and says to recommend a tax specialist. Whats the point?
If the program offered a useful framework on how to analyze a clients situation, find suitable investments/insurance given a clients situation, structure insurance products to a clients situation, etc…i wouldn’t complain, but I find that half the class is spent memorizing the contribution limits of various IRS qualified retirement plans, and the %’s of those deductions rather than when they are best used.
 
You must log in or register to reply here.
Back
Top