The National Association of Personal Financial Advisors starting January 1 will require the CFP® [certification] for those accepted as its registered financial advisors.

The NAPFA National Board recognized the need to support the financial planning profession by selecting a singular professional designation in the same way the public trusts that those holding a CPA, MD, or JD are meeting education, training and ethics requirements, the association said.

"NAPFA's decision to support the broader recognition of a single, defining designation for the financial planning community just makes sense. Less confusion means more consumer confidence, and the CFP® [certification] hits the mark as a strong, baseline standard," NAPFA Chair Lauren Locker, CFP® said in a statement.

Kevin Keller, CEO of the CFP Board, said, the Certified Financial Planner Board of Standards applauds the NAPFA's decision to make CFP® certification a requirement of membership starting next year. "NAPFA has been a strong strategic partner with CFP Board in advocating policies in support of competent and ethical financial planning," Keller said. Read more >

Financial Advisor
Jim McConville
December 4, 2012