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August 17, 2012
CFP Board requests comments on proposed revisions to the Continuing Education requirement for CFP® certification. The proposed revisions result from a comprehensive review of the current requirement and are summarized below.
The periodic review of certification requirements is consistent with best practices for professional certification organizations, including CFP Board’s accrediting organizations, the National Commission on Certifying Agencies (NCCA) and the Institute for Credentialing Excellence (ICE).
Comments received during the 45-day public comment period, which ends September 30, 2012, will be posted to CFP Board's website and reviewed and considered by CFP Board. Any final proposed amendments are expected to be presented to the Board of Directors for action in November 2012.
Overview of Proposed Changes
CFP Board’s Continuing Education (CE) requirement assures that CFP® professionals maintain and enhance competency in financial planning principles and practices. Consistent with NCCA accreditation standards, CE is a recertification vehicle. CFP Board’s current CE requirement (available for review at www.CFP.net/certificants/ce.asp) remains largely unchanged from its introduction in the 1990’s.
During the past six months, CFP Board’s Council on Education (Council) has been engaged in a focused and comprehensive review of the current CE requirement. The Council’s membership includes CFP® professionals, with representation from practice, representatives of CFP Board-Registered Programs and the academic community, and representatives from other professional certification organizations. The Council’s expertise was augmented with advice provided by CE subject matter experts from established professions (architecture and law). After reviewing and discussing substantive research of other certifications, designations and licensing CE requirements, the Council developed several recommendations for revising CFP Board’s CE requirement.
The proposed changes under consideration are:
Rationale: Recognize the importance practice management plays in the delivery of competent and ethical professional financial planning services to clients. Encourage pro bono service for the public benefit.
Rationale: Encourage body of knowledge expansion and no cost CE opportunities.
Comment Submission Guidelines
Any individual or group wishing to comment on the proposed revisions should submit written comments no later than September 30, 2012. Comments may be sent to CFP Board by email to CEComments@cfpboard.org or by regular mail to:
received will be reviewed and considered by CFP Board and, at the end of
the comment period, will be posted to CFP Board’s website in their
entirety. If you wish your comment to remain confidential, please omit any
personally-identifying information from your comment or include in your
comment a clearly-stated request that it not be published on the website.
CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS, INC.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements.