CFP Board Candidate Open Forum

  • 1.  Adding CFP to credentials

    Posted 02-16-2019 09:01
    I am currently working as a fractional CFO in the Dallas, Texas area.  I have a MBA, life and property casualty insurance licenses and prior corporate experience in analytics and financial management roles in banking.   I believe the CFP will be a better complement than the CMA.  (Certified Managment Accountant)    My questions:

    1.   Can some of the education requirements be exempted for me?
    2.   Are there specific guidelines for CFPs regarding how they charge for services?

    Thanks,

    Verlin Taylor

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    Verlin Taylor
    Consulting CFO
    VKT Associates
    Dallas TX
    (214)536-5361
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  • 2.  RE: Adding CFP to credentials

    Posted 02-16-2019 15:41
    Depending on the date of your education you might get a waiver on some of it but I would be cautious. The CFP exam is a bear and I don't think it is possible to overly prepare for it. So, take the required formal education program. It can't hurt you. 

    As for charging for the services of a CFP professional it depends on the company you work for. If you strike out on your own you'll see soon enough the need to be competitive in your pricing. Best of luck.

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    Robert Rea
    None
    American Armed Forces Mutual Aid Association (AAFMAA) Wealth Management & Trust (AWMT)
    Montclair VA
    703-946-1198
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  • 3.  RE: Adding CFP to credentials

    Posted 02-16-2019 15:59
    I am not trying to go around the education requirements.  However, I have over 10 years of experience in financial planning, banking and analytics.   I received my MBA in 2009 and I am constantly completing CE to stay abreast in my field.

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    Verlin Taylor
    Consulting CFO
    VKT Associates
    Dallas TX
    (214)536-5361
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  • 4.  RE: Adding CFP to credentials

    Posted 02-17-2019 03:23
    Each of us has to make their own decision... That said I am a CPA / MST and lifelong individual investor (and also passed the series 7 and 66 several years ago).  For me taking all the CFP certificate classes was a great experience.  I was embarrassed over how much I learned and had a very rewarding educational experience at California Lutheran.  I am going to finish my MS in Financial Planning there also.

    My situation is odd as I no longer have to worry about a career or my next bag of groceries...  and I am bit of an academic junky (but too old and not smart enough to get a PhD....

    Your experience should count for something....


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    Brett Layton
    Former Tax Director /now Student
    Graduate student - California Lutheran University
    Irvine CA
    310 740 5378
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  • 5.  RE: Adding CFP to credentials

    Posted 02-18-2019 11:31
    I was in a similar situation as Verlin. For that reason, i highly recommend the BU program. It is thorough, but not too thorough. The CFFP program provides you with a lot more information than you need. It is not appropriate for someone with planning experience. It is not ideal for a self-paced program. I have experience with both programs, but settled with BU.

    I was able to push through the Bu materials in 3 months, including the cap stone and a FT job. It is ideal for someone with planning experience.

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    Jared
    The Ayco Company

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