The CERTIFIED FINANCIAL PLANNER[™] certification and the Charted Financial Analyst (CFA) designation are the best credentials for client-facing wealth advisors to have, according to respondents in a FundFire poll.
Roughly 45%, or 140 voters, chose the CFP® certification, making it the top response in the poll, published Wednesday, that asked readers which professional credential is the best for advisors. The CFA came in second place, with about 30%, or 93 voters, who chose it as the top designation.
“The CFP® certification speaks directly to what [advisors] do and is specific to the wealth management industry,” says Danny Sarch, president of Leitner Sarch Consultants. “The CFP® certification is seen as rigorous and has a philosophy that firms like. It’s been recognized as something that takes a lot of work to accomplish, and it’s a real differentiating credential. The CFA and CIMA are great, but they’re not as broad as the CFP® certification; they are not as holistic for investment professionals.”
January 27, 2011