CFP® Marks in the News

Tips for Finding a Financial Adviser
"Two of the best-known designations are CERTIFIED FINANCIAL PLANNER[™ certification], or CFP[® certification], and chartered financial consultant, or ChFC. 'Now, hands down, the CERTIFIED FINANCIAL PLANNER[™ certification] is the preferred designation,' said Randy Guttery, associate dean for graduate programs at the University of North Texas, who is himself a ChFC. 'Only 3 percent of financial planners are CERTIFIED FINANCIAL PLANNER[™ professionals]. It’s no guarantee, but they’ve crossed a threshold 97 percent haven’t.'"

John Austin
Boston Herald
October 21, 2008

"Get Your Finances Ready for Retirement"- Choosing A Financial Planner For Your Retirement Needs
"It's true anyone can call himself or herself a financial planner, so that doesn't count for much. Being a CERTIFIED FINANCIAL PLANNER[™ professional] carries more weight, because it indicates the adviser has had extensive education and passed stringent tests."

Joe Collum
PBS Nightly Business Report
October 13, 2008

How to Find a Financial Planner
"In general, an adviser should have the CERTIFIED FINANCIAL PLANNER[™ certification], which is awarded by the nonprofit … Certified Financial Planner Board of Standards. The title indicates the individual has met CFP [Board's] education, examination, and experience requirements and has agreed to adhere to the organization's code of ethics."

Kerry Hannon
US News & World Report
October 1, 2008

What the Financial Market Meltdown Means for You:
How to Weather the Current Turmoil on Wall Street
"Seek out someone who has the CERTIFIED FINANCIAL PLANNER™ designation, to know that your planner has spent the time and energy to be educated about the subject matter. Find someone who has years of experience dealing with other people in circumstances similar to yours. Meet with the planner and understand very clearly how they will be compensated for the advice that they supply, and know what services will be provided to you over the years. Trust is one of the most important elements in your relationship with a financial professional."

Barbara A. Warner, CFP®
Washington Post
September 19, 2008

Some Advice on Getting Good Advice
"Which questions should you ask? Experts pinpoint four critical topics — credentials, experience with clients whose situations are comparable to yours, personal chemistry and the payment method.

Financial advisers and planners are not regulated by any government agency, but the industry has developed two sets of commonly used qualifications, one for a CERTIFIED FINANCIAL PLANNER[™ certificant], or CFP[® certificant], and the other for a chartered financial analyst, or CFA, who in addition to giving financial advice manages investments. Both require passing tests administered by industry-run boards."

Fran Hawthorne
New York Times
September 10, 2008

Personal Finance: Finding the Right Advisor
"The financial planning industry has gotten better. Or at least cleaner, as more practitioners and regulators have bumped up the bar on who can claim to be an advisor.

Most recently, the board which governs CERTIFIED FINANCIAL PLANNER[™ certificants] (CFP[® certificants]) has raised their standards. As of July 1, 2008, anyone calling themselves a CFP[® certificant] 'shall at all times place the interest of the client ahead of his or her own,' the new rules state. When CFP[® certificants] are actually offering planning services including recommending investment products, they must offer the same 'duty of care of a fiduciary' which holds them to act in the best interest of the client. 'We think the CFP[® mark] is the gold standard,' says Kevin Keller, head of the CFP Board of Standards. CFP[® certificants] must also undergo rigorous education, continuous education and testing requirements.

Competence counts, too. It's not all about the fees. There are plenty of honest, unconflicted, and not very talented advisors out there. Looking for a good certification, such as the CFP[®] designation (CFP.net), insures that the person you hire has carefully studied the subjects."

Linda Stern
Reuters News Service
September 10, 2008

Do Your Homework to Find a Financial Planner
"CERTIFIED FINANCIAL PLANNER[™ certificants] must pass an exam and demonstrate advanced education and experience. Some sell commission-based products and others offer fee-based services. Check them out at brokercheck.finra.org. The CFP [Board] code of ethics is at CFP.net; you can check individuals' standing (including disciplinary actions) at CFP.net/search."

Karen E. Klein
Newsday
August 23, 2008

Getting a CFP[® Certification]
"I'm a fan of the CERTIFIED FINANCIAL PLANNER™ designation. From my experience as a journalist, plus knowing several friends that got a CFP[® certification], it gives the practitioner a very broad overview of household finances. The CFP[® certification] offers the kind of broad background that will enable you to deal with everything from managing a portfolio to dealing with long-term care insurance to philanthropic gift giving."

Chris Farrell
publicradio.org
August 22, 2008

How to Choose the Best Financial Adviser
“You may want to restrict your search to CERTIFIED FINANCIAL PLANNER[™ certificants]. These professionals have passed certain exams and have a particular amount of experience as determined by the Certified Financial Planner Board of Standards. The organization offers a searchable database of CFP[® certificants] by location.

Before meeting with any of the planners on your list, check the CFP [Board] database to see whether they have been the subject of any complaints or disciplinary actions. Those with spotty records may warrant being crossed off your list.”

Peter McDougall
TheStreet.com - San Francisco Bureau
August 22, 2008

5 Signs It's Time to Fire Your Financial Planner
“Choosing a planner or adviser wisely to start with can help head off the hassle of having to fire one. The Certified Financial Planner Board of Standards has a list on its Web site of 10 questions to ask when choosing a planner, including queries about experience, qualifications, services offered, approach, cost and whether another person may be working with you. It also tells how to check on someone's disciplinary history with any of five regulatory agencies.”

Dave Carpenter
Associated Press
August 6, 2008

Make Sure Adviser Is Legit
“And do a quick search if the person claims to be a CERTIFIED FINANCIAL PLANNER[™ certificant]. Use the CFP [Board] database to verify whether the person holds the CFP® designation, and find out if the CFP Board has taken any disciplinary action against the person. CFP[® certificants] must meet rigorous education, testing and ethics requirements to maintain the designation.”

Kimberly Lankford
Kiplinger.com
August 4, 2008

Common Cents
“Finding the right financial planner is extremely important because your choice will probably affect your financial future. It's important to look for a CERTIFIED FINANCIAL PLANNER[™ professional] — they have the highest level of professionalism in providing financial advice.”

Deborah and Hal McNaughton
Christianity Today International/Marriage Partnership
Summer 2008

'Fee-Based' Financial Planner Can Charge Commission
“Starting Jan. 1, the CFP Board will begin enforcing stricter professional standards. Under the new language, a CERTIFIED FINANCIAL PLANNER[™ certificant] 'shall at all times place the interest of the client above his or her own.'”

Jeffrey Lambert, CFP®
Sacramento Bee
July 6, 2008

Hot Job: Financial Planner
“With people called on to cover the ever-increasing cost of college educations, figure out financial issues for aging relatives and manage their own retirement investments, the need for financial planning services is rising. At the same time, more people are going into the profession, with the number of those receiving the CERTIFIED FINANCIAL PLANNER™ designation rising by 6 percent a year, according to the Certified Financial Planner Board of Standards in Washington, D.C.
 
When it comes to passing the 10-hour exam and meeting other requirements to merit that optional but highly regarded designation, Carol Lee Roberts, managing director of education and examination for the standards board, said she sees especially fast growth in the 30- to 39-year-old age group. Of the close to 60,000 planners with such credentials nationwide, at least 20 percent fall into that age range.”

Patricia Kitchen
Newsday
June 23, 2008

Pick a Planner Who Can Spell ‘Fiduciary’
“Find out what experience and education your planner has. A minimum, say the experts, is a degree as a CERTIFIED FINANCIAL PLANNER[™ professional], which means the adviser has a certain level of education and experience, as well as attends continuing education classes. CERTIFIED FINANCIAL PLANNER[™ professionals] are also bound by a code of ethics that includes fiduciary duty.”

Alina Tugend
New York Times
April 26, 2008

Picking the Right Planner Is a Complicated Process: Knowing What to Look for Requires You to Do Some Homework
“The term 'financial planner' can be used by almost anyone and is often mistaken for those who truly can use the [marks] 'CERTIFIED FINANCIAL PLANNER™' or CFP® because they have had extensive education, testing, experience and certification.”

Terry Savage
Chicago Sun-Times
April 21, 2008

More to Consider Before Picking a Broker
“Make sure what you need is a broker and not a financial planner. A financial planner should work with you on all your assets and liabilities, not just your investment portfolio.... investigate the possibility of working with a CERTIFIED FINANCIAL PLANNER[™ professional]. It's a designation that the planner has had a rigorous training, passed a minimum competency exam, and keeps up with the required continuing education.”

Chris Farrell
Minneapolis Star Tribune
April 12, 2008

Planners Wanted ASAP
“The credible planners will have at least one of three designations on their business cards: CERTIFIED FINANCIAL PLANNER[™ professional] (CFP[® marks are] the best-known credential), Chartered Financial Consultant (ChFC, for planners who use insurance to reach financial goals) or Personal Financial Specialists (PFS, held by certified public accountants). All three will have taken serious courses and passed difficult exams.”

Jane Bryant Quinn
Newsweek
March 3, 2008

Do You Need Insurance for Long-Term Care?
“Don’t choose a policy solely on the seller’s recommendation. Get a second opinion from a CERTIFIED FINANCIAL PLANNER[™ professional] or an elder-law attorney.”

Lynn Brenner
Parade
February 17, 2008

Money Smart - Find the Right Financial Adviser
“Ask about education and certifications, like CFP[® certification] (CERTIFIED FINANCIAL PLANNER[™ certification]) or ChFC (Chartered Financial Consultant), which require continuing education.”

Sharon Epperson
USA Weekend
February 2, 2008

“Many Americans find themselves wondering how to find the right financial advisor, says Joseph Borg, past president of the North American Securities Administrators Association (NASAA) and director of the Alabama Securities Commission…. Watch out for fancy degrees or titles. Many aren't worth much, (although) degrees such as CFP[® certification] or ChFC are recognized as being earned by someone who has put in the time to study.”

USA Today
January 19, 2008

Discuss Long-Term Care Issues Before Parents Have Problem
“Step back and evaluate: If you find that the conversations aren't going well, examine your own approach to see what might be the problem. You might suggest that your parents talk with a third party - an estate planner (see www.aaepa.com), a financial adviser (www.CFP.net) or a lawyer (www.naela.com) - if you think that they could use some expert assistance.”

Jim Miller
Las Vegas Review Journal
December 30, 2007

“I like the CFP[® certification] since it implies a level of comprehensive education into the whole financial planning process--and that's what you need rather than a broker or life insurance agent.”

Chris Farrell
Publicradio.org
November 5, 2007

How to Check Out an Adviser
“It's also a good idea to check out the person's professional designations. It's easy to verify whether a person really holds a CERTIFIED FINANCIAL PLANNER[™ certification], which has rigorous education, testing and ethics requirements. Go to the Certified Financial Planner Board of Standards site [www.CFP.net/search] to verify that the person really holds the CFP[® certification] and find out if the CFP Board has taken any disciplinary action against that person.”

Kimberly Lankford
Kiplinger.com
October 18, 2007

"When money managers claim to have some designation (e.g., CFP[® certification]) or belong to a professional association (e.g., NAPFA), check with those organizations to see if they really are members and if there have been any complaints. 'Many designations are meaningless, created by folks looking to charge advisors thousands of dollars for the right to put a few initials after their names; there is little education or certification involved,' says Robert [Brokamp]. 'The gold standards are CFP[® certification] (for financial planners) and CFA (for investment analysts). They are the real deal.'"

Tim Beyers
The Motley Fool
September 13, 2007

"You want someone who is a 'CERTIFIED FINANCIAL PLANNER[trade; professional]' at absolute minimum. This designation means the adviser has undergone rigorous testing on key areas of financial planning, has a bachelor's degree [CORRECTION: Before March 1, financial planners could qualify for certified status without a bachelor's degree if they had five years of experience. The 'Ask the Expert' feature in Act Two on Saturday misstated the requirement. PG. A17 NS; A19 C 9/13/07] or higher and has at least three years of practical work experience. CFP[®] practitioners are held to the highest ethical and professional standards in the industry, and must complete 30 hours' continuing education every two years. They are subject to specific rules and disciplinary procedures and must disclose to clients upfront how they work and how they are compensated."

Karen E. Klein
Newsday
September 8, 2007

"[CERTIFIED FINANCIAL PLANNER™ professionals] maintain a broad-based approach to retirement, education, taxes, insurance, estates and other life issues. Investing is a major part -- but just one part -- of the big picture. 'You can't just be crackerjack on investments and get through the CFP[®] certification exam,' says Karen Schaeffer, a Rockville, Md.-based financial planner and chair of CFP Board, which regulates CFP[®] practitioners. 'It would be hard to do financial planning without understanding investments, but there's a great deal of financial planning that goes on' beyond investment strategies."

Jonathan Burton
Wall Street Journal
July 8, 2007

"Many elderly Americans are receiving financial guidance from advisers with credentials that sound impressive, but can be earned in just a few days.

LESS RIGOROUS CREDENTIALS: Certified Senior Adviser, Certified Retirement Financial Adviser, Registered Financial Gerontologist, Certified Retirement Counselor.

MORE RIGOROUS CREDENTIALS: CERTIFIED FINANCIAL PLANNER[™ certificant], Chartered Financial Analyst"

Charles Duhigg
New York Times
July 8, 2007

"Guidelines to help you determine which financial advisory firms provide true value from those that mostly offer marketing fluff. First, the firm needs to have the knowledge and expertise to successfully manage your financial issues. The CERTIFIED FINANCIAL PLANNER[™ certification] is becoming the industry benchmark to signify planners who agree to adhere to the highest internationally recognized standards of competence and ethical practices."

Martin Shields
Richmond.com
May 31, 2007

"The most respected financial planning credentials are CERTIFIED FINANCIAL PLANNER[™ certification, also known as CFP® certification] and Personal Financial Specialist (PFS) designation for Certified Public Accountants, both of which indicate that the persons holding the marks have extensive experience and have passed comprehensive examinations in tax planning, investments, and estate and retirement planning."

Elaine Morgillo
Seacoastline.com
May 13, 2007

"In addition to standard accreditations such as CERTIFIED FINANCIAL PLANNER[™ certification, also known as CFP® certification] and Chartered Life Underwriter (CLU), there's a new crop of titles that cover specialties such as advising senior citizens, choosing alternative investments, and investing with Christian values. Of all the financial planning designations, the one that carries the most clout is CERTIFIED FINANCIAL PLANNER[™ certification]."

Lauren Young
BusinessWeek
February 26, 2007

"Basic financial planning will benefit you whether you're switching employers or careers, going back to school to learn new professional skills, or branching out to be your own boss. After reading the tips below, you may also want to contact a CERTIFIED FINANCIAL PLANNER[™ professional] to help you tailor your transition strategy."

Tom Musbach
Yahoo! HotJobs
January 9, 2007

"You want to objectively consider three factors: credentials, ethics and business practices. For credentials, "CFP[® certification] is the best for planners."

Marshall Loeb
Marketwatch.com
January 3, 2007

"The financial planning industry is filled with some confusing titles and acronyms. But a 'financial advisor' is to a CERTIFIED FINANCIAL PLANNER[™ professional], what 'tax advisor' is to a Certified Public Accountant (CPA). The former could be your uncle with the cool software; the latter is someone with serious training and years of experience in the industry. CFP[® certification] is the preferred primary designation."

Dawn McMullan
D Magazine, Dallas, Texas
November 27, 2006

"Educate yourself. The best place to start when considering investments or additional insurance is to get sound advice from a CERTIFIED FINANCIAL PLANNER[™ professional]."

Elaine Wilson
American Forces Information Service
November 27, 2006

"By and large, in my unhumble opinion, the designation to look for is CERTIFIED FINANCIAL PLANNER[™ certification]."

Warren Boroson
The Daily Record, Morris County, N.J.
October 8, 2006

"Financial planning credentials can look like alphabet soup to a novice, but [Peggy] Cabaniss[, CFP®, past chairwoman of the National Association of Personal Financial Advisors] recommends looking for two credentials: CERTIFIED FINANCIAL PLANNER[™ certification]...and chartered financial consultant. 'The CFP[® certification] is considered the gold standard,' she said, 'whereas a chartered financial consultant has a focus on insurance.'"

M.P. Dunleavey
The New York Times
September 9, 2006

"Becoming board certified is becoming more important for brokers. The most popular credential...is the CFP[® certification], a badge commonly held by independent financial planners."

Victoria Knight
Dow Jones Newswires
August 28, 2006

"Sitting down with a CERTIFIED FINANCIAL PLANNER[™ professional] can be one of the most valuable experiences in your financial life. 'Their job is to help you understand where you are, where you want to be and show you the best path how to get there,' said Michael Gutter, a Financial Specialist with the University of Wisconsin Extension."

27 WKOW TV, Madison, Wis.
July 6, 2006

"Most advisers have had little formal financial education. For instance, maybe 5% of brokers, financial planners and insurance agents have bothered to become a CERTIFIED FINANCIAL PLANNER[™ professional], which has become the basic credential for any half-decent adviser. To ensure your adviser is knowledgeable, stick with CFP[® professional]s..."

Jonathan Clements
The Wall Street Journal
May 31, 2006

"Start by looking for someone with broad training in the financial-planning field. The most widely recognized designation for a generalist is [the] CERTIFIED FINANCIAL PLANNER[™ certification], a designation held by some 50,000 people in the U.S., according to the Certified Financial Planner Board of Standards, a group that oversees CFP[® professional]s."

Karen Hube
The Wall Street Journal
April 24, 2006

"For me, [a 'genuine' financial planner] is a CERTIFIED FINANCIAL PLANNER[™ professional]."

Jane Bryant Quinn
Newsweek
February 13, 2006

"Most financial designations aren't subject to state or federal regulation, but are still highly regarded because of the steps needed to earn those initials. Many also are accountable to professional organizations that set ethical standards on members. The CERTIFIED FINANCIAL PLANNER[™ certification] is considered the gold standard in this crowd."

Jeff Opdyke
The Wall Street Journal
January 28, 2006

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