Continuing Education Standards

The following outlines in detail the continuing education (CE) requirements for maintaining the CFP® certification. CFP® certificants agree to adhere to the standards, including any future revisions, stated within the following sections. Programs attended and developed to meet CE requirements should meet these requirements and be current, as well as contribute to increasing the professional competency of CFP® certificants.

Section 1: CE Hour Requirements
CFP® certificants are required to complete 30 hours of CE each reporting period:

• 2 hours from a CFP Board-approved program on CFP Board's Code of Ethics and Professional Responsibility (Code of Ethics) and/or Financial Planning Practice Standards (Practice Standards).
• 28 hours from one or more of the accepted subject topics.

Each reporting period, two of the required hours must be obtained from a pre-approved program on CFP Board's Code of Ethics and/or Practice Standards. Exceptions are not made. This requirement is designed to ensure that CFP® certificants review and remain informed of the Code of Ethics and Practice Standards to which they agree to adhere as a condition of certification.

Access a current list of providers who offer these courses specific to CFP Board's Code of Ethics and/or Practice Standards. Ethics programs taken from organizations not on this list may count for general CE credit if they meet CFP Board's CE standards; however, non-approved ethics programs will not satisfy the Code of Ethics/Practice Standards requirement.

Initial Reporting
The CE requirement is effective immediately upon initial certification. The number of CE hours for newly certified CFP® certificants is prorated for the period from initial certification to the end of the initial certification period.

Earning CE Hours
CE hours must be earned during the current reporting period, which is a two-year period ending the last day of the CFP® certificant's renewal month. Any CE hours in excess of the requirement may not be applied to subsequent reporting periods. CE hours earned for any one program may not be split between two reporting periods.

Reporting CE Hours
CE hours from programs registered with CFP Board are reported for certificants by the CE sponsor. CE programs not registered with CFP Board that are completed on or after January 1, 2006, may be reported online by the certificant with a nonrefundable $20 processing fee to cover the cost of review. CE programs not registered with CFP Board that are completed before January 1, 2006, may be reported without a processing fee.

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Section 2: Program Requirements
CE sponsors are encouraged to register CE programs with CFP Board. Check with the sponsor of your CE course to find out if the program has been registered and for information about the number of CE hours the course has been accepted for by CFP Board, or visit CFP Board's Web site at www.CFP.net/sponsors to generate a list of registered CE sponsors and programs.

Programs designed to meet CFP Board's two-hour Code of Ethics and/or Practice Standards requirement have additional requirements and must be approved by CFP Board before they will be accepted.

CE programs not registered with CFP Board that are completed on or after January 1, 2006, may be reported by the CFP® certificant to CFP Board for CE hours but must be reported online with a nonrefundable $20 processing fee. CE programs not registered with CFP Board that are completed before January 1, 2006, may be reported to CFP Board for CE hours without a processing fee. CFP Board will accept only CE hours that cover one or more of the subject topics.

CFP® certificants should only report programs for CE credit that:

• address one or more topics listed in Appendix A.
  
• contribute to increasing the professional competency of participants.
  
• are developed and conducted by persons qualified in the subject matter and in instructional design.
  
• are current and correct in program content.
  
• provide documentation to the certificant by the sponsors.
  
• are at least 50 minutes in length.
  

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Section 3: Credit for Live Presentations

Programs are accepted for CE credit in an initial unit of at least one hour (minimum of 50 minutes constitutes one class hour), with half credit accepted after the initial one hour has been satisfied. For example, a 75-minute program equals 1.5 credits. Partial credit may be claimed for those portions of programs that cover material from the accepted subject topics. For example, three hours of CE credit may be claimed for a six-hour program that covers accepted topics during only half of the program. Real-time courses offered over the Internet, i.e., live Web casts, are accepted for CE credit as outlined in this paragraph.

Courses offered by colleges and universities (including community colleges) are accepted for the following credit provided they cover topics listed in the Subject Topics Accepted for CE Credit:

• semester credit = 15 CE hours (3 semester credits = 45 CE hours)
  
• quarter credit = 10 CE hours (3 quarter credits = 30 CE hours)

Both credit and non-credit courses will be accepted. For non-credit courses, each 50-minute class session may be counted as one CE hour.

Programs provided by state and local bar associations, Certified Public Accountant societies, Financial Planning Association chapters, Society of Financial Service Professionals chapters, Association for Investment Management and Research chapters and estate planning councils will be accepted for CE credits, provided topics covered are listed in the Subject Topics Accepted for CE Credit.

Programs that have been accepted by the state boards of accountancy, state bars or state insurance commissions will be accepted for CE credits provided topics covered are listed in the Subject Topics Accepted for CE Credit.

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Section 4: Credit for Self-Study Programs
Self-study programs are defined as courses completed outside of a classroom environment using printed material, periodicals, audio and/or video cassettes, electronic media or online media. Satisfactory completion must include a written or online examination, which shall be graded by the sponsor, with a passing score of 70 percent or higher. The Code of Ethics and/or Practice Standards programs must have a passing score of 80 percent or higher.

Self-study programs must meet the program requirements described in Section 2 and require the certificant's registration with the program sponsor.

Credit for self-study programs is determined as recommended hours of completion time as determined by the CE sponsor.

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Section 5: Credit for Completing Professional Licenses and Designation Examinations
Successfully completing the examinations for certain professional license or designation during the reporting period qualifies for CE hours. CE hours are granted for the licensing/designation exam, not for the preparatory or review courses.

View the list of licenses and designations with the number of CE hours accepted by CFP Board.

Completion of professional license and designation examinations may be reported to CFP Board by CFP® certificants by logging in to CFP Board's Web site, selecting the CE Sponsor name "Designations & Licenses," and selecting the appropriate license or designation from the available list.

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Section 6: Credit for Teaching
Credit as an instructor, discussion leader or speaker:

• is accepted for meetings or engagements that are directed to financial services professionals provided topics covered are listed in the Subject Topics Accepted for CE Credit.
  
• is allowed on the first presentation only per CE reporting period on the basis of two CE credits for each hour of class or presentation time. For example, an instructor may claim four hours for teaching a two-hour class.
  
• is accepted for teaching in a CFP Board-Registered Program and for teaching other university courses that cover the accepted topics listed in the Subject Topics Accepted for CE Credit. (Courses taught in CFP Board-Registered Programs do not count towards the two-hour Code of Ethics and/or Practice Standards requirement.)
• may not exceed 50 percent of the total CE hours required during any reporting period. For example, if total hours required are 30, a maximum of 15 teaching hours may be claimed.
• is not accepted for presentations designed primarily for persons not engaged in financial services (e.g., presentations to the general public, presentations for marketing purposes, television and radio talk shows, and participation in high school programs).

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Section 7: Credit for Authorship
Credit may be allowed for authorship of published articles and books relating to the topics listed in Appendix A provided they contribute to increasing the professional competency of the author. Credit for preparation of such publications may not exceed 50 percent of the total CE hours required during any reporting period. Short newspaper articles, Q&As and company newsletter articles for clients are not accepted for credit.

Published articles and books (both print and electronic) must be submitted to CFP Board for review prior to reporting them as CE credit on the CE reporting form.

Published articles and books submitted to CFP Board must:

• include the date, publication and number of CE hours requested.
  
• include copies of articles as published.
  
• show the CFP® certificant as the author of the publication.

CFP Board will confirm receipt of the publication(s) and the number of credits granted within 30 days of receipt. The publication will not be returned to the CFP® certificant unless specifically requested.

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Section 8: Reporting and Recordkeeping
CE hours may be reported electronically to CFP Board at any time by CE sponsors or by CFP® certificants. CE hours must be submitted to CFP Board by the end of the CE reporting period, along with the other renewal requirements. The CE reporting period is the same as a CFP® certificant's certification period.

Electronic Reporting
CE sponsors are required to electronically report CE hours earned by CFP® certificants who complete programs registered with CFP Board. View a current list of CE sponsors registered with CFP Board. When CE hours are reported by a sponsor, e-mail notification is sent to the individuals receiving credit.

Certificants can access up-to-date information on CE hours that have been reported by CE sponsors by logging in to CFP Board's Web site at www.CFP.net/login. If all required CE hours are reported to CFP Board directly by CE sponsors, including the required two-hour Code of Ethics and/or Practice Standards program, the certificant does not need to report additional CE hours.

Self-Reporting
Certificants may self-report courses not directly reported to CFP Board by a CE sponsor. Programs not registered with CFP Board that are completed on or after January 1, 2006, may be reported online with a nonrefundable $20 processing fee per program to cover the cost of review. Programs not registered with CFP Board that are completed before January 1, 2006, may be reported without the processing fee.

CFP Board accepts only programs that cover one or more of the subject topics. If programs are reported to CFP Board that do not meet CFP Board's CE standards, any processing fees paid when reporting those programs will not be refunded.

Documentation of Self-Reported CE Hours
Each CFP® certificant must retain documentation of self-reported CE hours for two years after the end of the reporting period. Documentation confirming attendance should not be sent to CFP Board unless specifically requested. CFP Board may request these documents at any time up to two years from the end of a reporting period.

Documentation may be a grade report or transcript for activities involving an examination. For other programs, a written confirmation of attendance (i.e., Certificate of Attendance, Certificate of Completion, etc.) from the sponsoring organization is acceptable and should include: CFP® certificant name, name of program, name of CE sponsor, date of program, location, number of CE credits and signature of sponsor representative. In addition, an agenda showing the topics addressed and the time allotted for each topic should be retained.

Documentation for CE hours reported directly to CFP Board by a CE sponsor does not need to be retained by the CFP® certificant.

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Section 9: Failure to Comply
Each CFP® certificant is responsible for demonstrating full compliance with the CE requirement. CFP Board may at any time request documentation of any CE credits self-reported by the certificant.

Unsupported, misstated or fraudulent reporting of CE credits is a violation of CFP Board's Code of Ethics. Such reporting is cause for action by CFP Board and may be grounds for disciplinary action up to revocation of the CFP® certification.

Failure to fulfill and report the required CE hours by the end of the CE reporting period will result in non-renewal of the CFP® certification, precluding any use of the CFP® marks. If all CE hours, including the two-hour Code of Ethics and/or Practice Standards program, are reported electronically by CE sponsors, no further action is required.

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Section 10: Audits
CFP Board conducts random audits of self-reported CE hours for the most recent reporting period. When audited:

• the CFP® certificant is notified of the audit and asked to send documentation of hours that were reported manually to CFP Board.
  
• the reported CE hours and any supporting documentation are reviewed by CFP Board, and a determination is made as to whether the hours are accepted or denied.
  
• the certificant receives confirmation from CFP Board regarding the audit and any further action needed.

If any CE hours are denied during the audit and a deficiency results, the certificant will be given 90 days to report additional hours to cure the deficiency. Additional hours must be reported electronically by a CE sponsor or listed on a signed CE reporting form and submitted to CFP Board with supporting documentation. The certificant will remain authorized to use the CFP® marks during this 90-day period.

If the deficiency is not cured, a deficiency notice will be sent to the individual. If the necessary hours remain unreported the individual will no longer be certified and will not be authorized to use the CFP® marks. Unsupported or misstated CE reporting is a violation of CFP Board's Code of Ethics and may be grounds for disciplinary action up to revocation of the CFP® certification.

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Section 11: Waivers
Requests for a waiver of the CE requirement due to extenuating circumstances are reviewed on a case-by-case basis. Written requests along with supporting documentation should be made to CFP Board.

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Section 12: Revisions
The Continuing Education Standards and requirements stated in these sections are subject to revision from time to time. Changes and additions are published in revised booklets and on CFP Board's Web site. Certificants are responsible for staying up-to-date and meeting the current standards.

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Questions and Answers
The following are answers to questions frequently asked about CFP Board's continuing education (CE) requirement:

Q: 1. What is the CE requirement?
A: CFP® certificants must report 30 hours of CE each reporting period. This period is the same as the certification period, a two-year period ending with the last day of the certificant's renewal month. A newly-certified CFP® certificants' initial CE requirement is prorated for the period from initial certification to the end of the initial certification period. Credit must be earned from programs that cover the financial planning topics the Subject Topics Accepted for CE Credit. Two of the 30 hours must be earned from a pre-approved CFP Board Code of Ethics and/or Practice Standards program. The other 28 hours may be earned in one or more of the accepted topics.

Q: 2. What can I do to earn 30 hours of credit?
A: Credit can be earned in many ways including seminars, classes, Web casts, online or other self-study courses, in-house training programs, meetings, tapes, teaching and authoring publications. A list of CE sponsors registered with CFP Board can be accessed online. This CE sponsor database can be searched in a variety of ways. You can obtain lists of CE sponsors by course type (classroom or self-study), city, state or sponsor name.

If you would like a list of CE sponsors who offer the pre-approved programs on CFP Board's Code of Ethics and/or Practice Standards, please contact CFP Board via phone (800-487-1497), e-mail (renewal@CFPBoard.org) or fax (202-379-2299).

Q: 3. What programs are acceptable for credit?
A: College and university courses that relate to financial planning are accepted. In-house training and programs offered by nonprofit and commercial organizations are also accepted if they have been registered with CFP Board and/or meet the program requirements listed below:

• Programs must address subject topics listed in the Subject Topics Accepted for CE Credit.
  
• Programs must contribute to increasing the professional competency of participants.
  
• Programs are developed and conducted by persons qualified in the subject matter and in instructional design.
  
• Programs must be current and correct in program content.
  
• Programs should be at least 50 minutes in length.
  
• CE sponsors should provide documentation to the CFP® certificant.

A list of CE sponsors registered with CFP Board can be accessed online. The CE sponsors who offer pre-approved programs on CFP Board's Code of Ethics and/or Practice Standards can also be found on the Web site.

Q: 4. What is not accepted for CE credit?
A: CE credit will not be accepted in the following situations: informal discussion groups and programs in which the subject content pertains to public accounting, computer hardware and software, marketing, practice management, sales, specific company or product presentations, or any other topic not included in CFP Board's list of accepted topics.

Q: 5. I am newly certified, when must I begin meeting the CE requirement?
A: The requirement is effective immediately upon certification. There is no grace period.

Q: 6. Does my reporting period end two years from my initial certification date?
A: No. The initial CE requirement for newly certified CFP® certificants is prorated as of the date of certification through the end of the CE reporting period. The CE reporting period is the same as the certification period which ends the last day of your birth month in an odd or even year, depending on your birth date. For example, if you are certified 10/1/04 and you have an August, odd-year birth date, your certification period and your CE reporting period will be 10/1/04 - 8/31/05 (11 months). Your CE requirement is prorated for 13 hours, which includes the two-hour Code of Ethics and/or Practice Standards CE requirement, for that 11-month period. The initial CE requirement can be found by logging in to your online account.

Q: 7. When do I submit my CE hours?
A: CE hours can be reported by CE sponsors or reported on CFP Board's Web site by a CFP® certificant at any time during the reporting period. If you receive a renewal reminder from CFP Board that indicates your CE requirement is not yet complete, please log in to your CFP Board account at www.CFP.net/login to view the CE hours reported for you and report any additional hours you have completed that have not been reported for you. Any programs not registered with CFP Board that are completed on or after January 1, 2006, must be reported online with a nonrefundable $20 processing fee per program to cover the cost of review. Non-registered programs completed before January 1, 2006, may be reported with no charge.

Q: 8. Do I need to fax or e-mail my certificates of completion?
A: No. Please do not send in your certificates of completion to CFP Board, except when requested. Documentation for self-reported CE hours should be kept on file for two years after the end of your reporting period. If we have questions or if your CE hours are audited, we will contact you for this documentation.

Q: 9. If I earn more than 30 hours during a reporting period, can I carry any excess hours over to the next reporting period?
A: No. Hours in excess of the 30 hours required for the reporting period may not be carried over to subsequent reporting periods.

Q: 10. I am already required to earn CE for a professional license. Can these credits be counted?
A: If the CE program has been registered with CFP Board, it will be accepted for CE credit. Courses taken to maintain state or federal licensing in closely related fields (e.g., accounting, insurance, securities and law) that are not registered with CFP Board may be reported to CFP Board online with a nonrefundable $20 processing fee and will be accepted for CE credit if the courses relate to the subject topics listed in Appendix A and meet the CE requirements listed in Q&A #3.

Q: 11. Can I earn CE credits by obtaining professional licenses or designations in a closely related field?
A: Passing the exam(s) for earning certain professional licenses and designations is accepted by CFP Board for CE hours. Generate a list of the licenses/designations that CFP Board accepts for CE hours by visiting www.CFP.net/sponsors and using the search term "Designations and Licenses." CFP® certificants may go online to report completion of examinations for these licenses and designations by using the CE sponsor name "Designations and Licenses" and selecting the appropriate designation or license from the list.

Q: 12. How is the number of credits determined for a program?
A: One CE hour (credit) equals one hour of class time (50 minutes). Credit for self-study programs is determined as the sponsor's recommended number of study hours. Check with the sponsor or with CFP Board for the number of credits accepted.

Credit for teaching is accepted on the first presentation only per CE reporting period on the basis of two CE credits for each hour of class presentation time up to a maximum of 50 percent of the reporting period requirement.

Credit for authorship of a publication may be given, up to a maximum of 50 percent of the requirement, provided that the publication is first submitted to and approved by CFP Board.

Q: 13. If I teach a course in a CFP Board-Registered Program, can I count that teaching as CE?
A: Yes. You may count up to one-half of your CE requirement per CE reporting period (i.e., every two years) for teaching a course in a CFP Board-Registered Program. You may count teaching the same course in successive reporting periods. Courses taught in a CFP Board-Registered Program do not count towards the two-hour Code of Ethics and/or Practice Standards requirement.

Q: 14. Are there any limits on the number of credits that can be earned by one program or type of program?
A: Yes. CE hours earned for teaching or authorship of a publication may not exceed 50 percent of the requirement during any reporting period. Otherwise, CE hours may be earned from any registered CE program or any non-registered CE program meeting CFP Board's CE requirements (provided that any non-registered programs completed on or after January 1, 2006, are reported online with a nonrefundable $20 processing fee per program).

Q: 15. Do I need a certain number of credits in each of the subject topics?
A: Two hours must be earned from a pre-approved program on CFP Board's Code of Ethics and/or Practice Standards. The remaining 28 hours may be earned from one or more of the topics listed in the Subject Topics Accepted for CE Credit.

Q: 16. Where can I find a list of CE Programs or CE Sponsors?
A: Lists of CE sponsors registered with CFP Board and the programs they have registered with CFP Board can be generated on CFP Board's Web site at www.CFP.net/sponsors. Lists of CE sponsors can be selected by course type (classroom or self-study), city, state or sponsor name. All CE sponsors are required to electronically report CE hours directly to CFP Board for CFP® certificants who complete registered CE programs. Contact individual CE sponsors for information about the programs they have registered with CFP Board.

A list of CE sponsors who offer the pre-approved programs on CFP Board's Code of Ethics and/or Practice Standards required for renewal of CFP® certification can also be generated on CFP Board's Web site at www.CFP.net/sponsors.

Q: 17. How are CE hours reported?
A: CE sponsors are required to electronically report CE hours directly to CFP Board for CFP® certificants who complete registered CE programs. If sufficient hours have been reported electronically to your account by CE sponsors, no further action is required.

CFP® certificants may also report completed CE hours to CFP Board by logging in to CFP Board's Web site at www.CFP.net/login. CE programs not registered with CFP Board that are completed on or after January 1, 2006, must be reported online with a nonrefundable $20 processing fee per program to cover the cost of review. CE programs not registered with CFP Board that are completed before January 1, 2006, may be reported online without charge. CFP Board accepts only CE programs that meet its CE requirements; any processing fee paid for self-reported CE programs reported found not to meet those requirements will not be refunded.

If you self-report CE hours, you must keep track of your courses, obtain documentation of the programs as they are completed (e.g., Certificate of Attendance, Certificate of Completion, grade report, transcript, etc., as well as an agenda showing the topics addressed and the time allotted for each topic). CFP Board conducts random audits of reported CE hours for the most recent reporting period. If audited, you will be asked for documentation of only those CE hours not reported directly from CE sponsors. Documentation should not be sent unless specifically requested. Be sure to keep all documentation of your completed CE hours for two years after the end of the reporting period.

Q: 18. If I attend a conference, how do I report these CE hours?
A: When self-reporting a conference, workshop, symposium or meeting, provide the name of the conference and provide information about each session you attended separately. Each session should include the number of hours you are claiming under the appropriate subject category.

Q: 19. Can I get an extension on my CE reporting period?
A: No. Extensions are not granted.

Q: 20. What happens if I do not meet the CE requirement or if I'm late renewing my certification?
A: If you have not met the CE requirement by the last day of your certification period, you will not be authorized to use the CFP® certification marks. You can cure the deficiency by reporting the deficient hours within 90 days of your certification expiration date.

Q: 21. If I don't renew, will I ever have to take the CFP® Certification Examination again?
A: Yes. If you do not reinstate your certification within five years of your last certification expiration date, you must pass the CFP® Certification Examination in order to reinstate your right to use the CFP® marks.

Q: 22. Is there an inactive status in which I do not have to report CE?
A: We do not offer an "inactive" status. The renewal requirements must be met in order to keep the certification.

Q: 23. Are waivers granted?
A: Requests for a waiver of the CE requirement due to extenuating circumstances are reviewed on a case-by-case basis. Written requests must be sent with appropriate documentation to CFP Board.

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