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CFP Board in the News

NAPFA to Advisors: CFP® [Certification] or Bust

Dec 04, 2012

Fee-only planners group makes move 'to provide more clarity for the public in a sea of financial designations'

The National Association of Personal Financial Advisors announced Tuesday that as of Jan. 1, NAPFA would only accept the CERTIFIED FINANCIAL PLANNER[™ certification] for people who applied to be NAPFA-registered financial advisors.

According to the nationwide organization for fee-only financial planners, NAPFA made its decision to help consumers sort through the alphabet soup of designations that may mean something to professionals in the industry but only leave the public confused.

Consumers have a hard time wading through the sea of financial designations that indicate widely varying qualifications, and the CFP® mark best represents financial planning professional standards, similar to a JD or a CPA, NAPFA said in its announcement. Unlike the professions of law and accounting, however, the field of financial planning does not yet have a broadly accepted definition of superior quality. Read more >

AdvisorOne
Joyce Hanson
December 4, 2012

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Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call himself a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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