What Is a CFP?
- Certified financial planner is a professional designation awarded to financial advisors who have passed rigorous coursework and an examination to prove their fluency in all aspects of financial planning.
- CFPs must undergo years of training - 4,000 to 6,000 hours in total - before they are eligible to place the letters CFP after their name. They’re also obligated to continue their education even after receiving certification.
- A CFP can help you identify short- and long-term goals for your financial life, make a plan to achieve your goals and then execute on the plan. Goals can include saving for college, navigating debt repayment, preparing for retirement, maximizing the impact of your charitable giving as well as asset protection.
- Unlike some financial advisors, all CFPs are held to a strict standard of fiduciary duty, meaning they must put your financial best interests ahead of their own.