CFP Board Candidate Open Forum

  • 1.  CFP Preparation - July 2019 Exam

    Posted 03-03-2019 21:28
    Edited by Kristopher Knorr 03-03-2019 21:28
    Hello everyone!

    I am a recent Penn State graduate preparing to take the CFP exam in July of this year.
    As I do more and more research on preparation and study materials I just thought that I would reach out for feedback from current CFP professionals and recent test takers on study material recommendations.

    Has anyone used the Wiley CFP materials and had success?

    I have heard that Dalton and Kaplan are excellent resources, but wondered which is more accurate in regards to the question comparison.

    I was generously awarded a scholarship to fund some of my materials and want to be sure I make the best choice.

    My email is krisknorr12@gmail.com if you would like to share your thoughts/experiences outside of the forum.

    Any feedback is much appreciated, thank you in advance!


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    Kristopher Knorr

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  • 2.  RE: CFP Preparation - July 2019 Exam

    Posted 03-03-2019 21:48
    Hi Kristopher.  Have you completed a CFP Board approved CFP education program?  That would be your first step. Perhaps your Penn State program covered that. Next, you need to take a review crs. The CFP Board does not officially require you to do this but it will really help you pass the exam. Depending on where you are with these requirements, taking the exam in July might be a little ambitious.

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    Robert (Rob) Rea
    Financial Planner
    American Armed Forces Mutual Aid Association, Wealth Management & Trust (AWMT)
    Montclair, VA
    (703) 946-1198 (cell)
    rrea@aafmaa.com
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  • 3.  RE: CFP Preparation - July 2019 Exam

    Posted 03-03-2019 21:53
    Edited by Kristopher Knorr 03-03-2019 22:00
    Hi Robert,

    Yes I have been approved based on my education program at Penn State. Is there a particular review course you would recommend? I took a financial planning capstone at Penn State but I am sure a review course would definitely benefit me.

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    Kristopher Knorr
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  • 4.  RE: CFP Preparation - July 2019 Exam

    Posted 03-19-2019 12:22
    Good morning,

    I completed my CFP education through the College for Financial Planning (a Kaplan company). I too have been inquiring about the pros/cons of the various review courses offered. While sifting through the forum, I noticed that many of the folks that have previously taken the exam mentioned in their comments they found the Dalton review materials to more closely match the CFP board exam questions than they did the Kaplan materials. This wasn't unanimous by any means, just a trend I noticed. 

    I have done some personal research on the two options (Kaplan v Dalton) and it seems that Dalton has some former board members from the board of examiners on the faculty that assists with creating their materials, while Kaplan may not. I also noticed that Dalton seemed to offer more convenient playback of lectures and such if you are unable to participate in any type of in-person review session.

    Any input would be greatly appreciated. I am hoping to make a decision this week between the two options as I am aiming at sitting for the July board exam.

    Thank you,
    Ryan

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    Ryan Schaefer

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  • 5.  RE: CFP Preparation - July 2019 Exam

    Posted 03-19-2019 14:27
    Hi Ryan.  I used the Dalton live education and live exam review.  I bought the whole thing as a pkg.  I liked the Dalton Guaranteed to Pass program as it allowed me to attend multiple exam reviews at no additional cost.  Their instructors are very sharp.  Their question bank is very good and truly helped prepare me for the exam.  I read each of the five exam review books twice for my second attempt.  After the first subject I did all the exams for that online and kept at it until I was averaging in the high 70's to the mid 80's.  Then I moved to the next topic and repeated.  (I had read all these books once before for my first exam attempt, but that was just six weeks after the finishing the education which was just too short a turnaround for me.)  The instructors offer good tips on taking the exam.  They also have some very good MP3 files you may access.  They may not be the cheapest option, but you tend to get what you pay for with these reviews.  They also offer a hybrid online version as well.  Hope this helps.  Best of luck.


    Regards,

    Rob Rea






  • 6.  RE: CFP Preparation - July 2019 Exam

    Posted 03-19-2019 14:43
    Rob,

    Thank you for your quick response and the extremely helpful information. I like the idea of changing up the materials and using Dalton for review materials since I went through the College for Financial Planning (Kaplan company) for the education requirements. I feel like a slight difference in the review books and questions may be a good change of pace to ensure I actually know the material and am better prepared for the board exam. It also seemed like many other past test takers on this forum have mentioned the Dalton practice questions were phrased and structured more like the actual board exam over those of Kaplan's.

    Also, i was looking at Dalton's site and they have multiple packages offered. I didn't notice the mp3 audio option but that would be advantageous as I have to drive for work periodically throughout the week. I will contact them to see if that is standard in all packages or just a select few. 

    Thank you again for your input and information.

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    Ryan Schaefer
    Retirement Consultant
    Lincoln Financial
    Fort Wayne IN
    (260)417-7079
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  • 7.  RE: CFP Preparation - July 2019 Exam

    Posted 03-19-2019 16:10
    Welcome. I think the MP3's come with the pkg. You can call and ask them. Best of luck. Oh, I also recommend candidates read this forum daily. 

    Regards,

    Rob Rea





  • 8.  RE: CFP Preparation - July 2019 Exam

    Posted 03-20-2019 11:41
    Hey Ryan,

    I just finished the test Monday and used the Dalton Guarantee to Pass Review. ​Not sure how I did on the test yet (find out in 4 weeks, brutal!) but I won't be surprised either way. The Dalton Instructors and Classes are great, but with any study program, you'll only get out of it what you put into it. I think Dalton goes above and beyond the information actually needed and maybe a little too far into the weeds at times, but in the end that should only help you better understand the materials and be able to apply it to your clients. More than happy to answer any other questions about the Dalton program if you have any! Best of luck in your prep for July, I'm hoping I don't have to join you :)

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    Joshua DeVries
    Financial Advisor
    Robert W. Baird
    Zeeland MI
    616-402-7823
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  • 9.  RE: CFP Preparation - July 2019 Exam

    Posted 03-20-2019 13:10
    I took the Kaplan course and Kaplan review.  I just took the exam this past Friday.  The Kaplan questions were MUCH more difficult than the exam questions.  I think it's intentional to be sure that you really know the material.  I can't speak to the Dalton review course but I think the Kaplan course is sufficient.  You can access videos for playback at anytime with the package I purchased.  There are also tons of practice questions and you have the ability to make custom quizzes.

    I think both courses have been vetted enough that either should get you through.  I think the biggest thing is to put in the time!  I can't say that enough... this exam covers a MASSIVE amount of info.  By the time I got my review materials, I had 9 weeks prior to the exam.  Which might be enough time if you are able to devote 25 hours a week to studying... I just didn't have that amount of time.  Hopefully I passed but put in the time!

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    Tyler Hendrix
    Financial Advisor
    LPL Financial
    Flowood MS
    601-790-1180
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