CFP Board Welcomes New Registered Programs

During the fourth quarter of 2008, the five financial planning education programs listed below completed the requirements to become CFP Board-Registered Programs. The addition of these new Registered Programs brings us to a total of 341 active Registered Programs at over 200 institutions at the close of 2008.

Central Piedmont Community College
CFP® Certification Education Program

 
Cleary University
Graduate Certificate in Financial Planning
 
University of Charleston
The University of Charleston Executive Certificate in Financial Planning
 
University of Utah
B.S. Consumer and Community Studies, Financial Planning Emphasis
 
William Paterson University
CFP® Certification Education Program
 

2009 Program Directors’ Conference – Save the Date!

Mark your calendars for the 2009 Program Directors’ Conference. This year’s event will be held August 13-15. Details about the conference, including the event location and registration information, will be announced in the near future.

Registered Program Renewal Process

CFP Board is working to simplify the renewal process for Registered Programs based on feedback received at the 2008 Program Directors’ Conference. Historically, the renewal application process has mirrored the initial application process, with the exception of additional reports requested as part of the renewal. Moving forward, our goal is to provide programs with a simplified process, allowing them to verify the information CFP Board has on file for their program, while noting changes to faculty, course descriptions, and program staff, as needed.

Registered Programs with renewals in the first quarter of 2009 will receive separate correspondence from CFP Board outlining the revised renewal process and instructions for submitting the revised documents.

Annual Reporting Form

As part of CFP Board’s efforts to support Registered Program marketing and retention, as well as plan for the needs of individuals who wish to sit for the CFP® Certification Examination in the future, all Registered Programs will be asked to complete a Registered Program Annual Reporting Form in the first quarter of 2009. The one-page document will include questions about current and projected student enrollment and examinee projections for the CFP® Certification Examination, based on historical program data. We appreciate your time in providing this valuable information.

Adding New Faculty to Your Program

Have you recently made changes to your faculty or program staff? When adding a new faculty member or Program Director to your Registered Program, we ask that you send us a current copy of the individual's curriculum vitae to illustrate that they meet the requirements for faculty and/or Program Directors set forth in CFP Board’s Criteria for Registration of a Financial Planning Curriculum.

Registered Program faculty are required to hold: a) an appropriate graduate degree, or b) a current CFP® certification plus a bachelor's degree in a related field, or c) a current CFP® certification, a bachelor's degree, and significant experience related to the course content.

The faculty vitae may be mailed to education@CFPBoard.org or sent via mail, whichever is more convenient for you. Please indicate which course(s) the individual will teach.

Academy of Financial Services Call for Paper Presentations

The Academy of Financial Services is seeking papers to be presented at its next meeting, to be held October 9-10, 2009 at the Anaheim Marriott Hotel in Anaheim, Calif. AFS meetings provide a forum for the presentation of new research and the discussion of current issues in the personal finance field, and they seek research papers covering all aspects of personal financial planning and education, as well as ideas for panel presentations and tutorials. The submission deadline for paper presentations and special sessions is March 1, 2009. For additional details, visit the AFS Web site, www.academyfinancial.org.

Grant Opportunities

Several financial planning-related grant programs administered by the National Endowment for Financial Education (NEFE) are currently accepting proposals:

• Foundation for Financial Planning (FFP) Grants Program - April 30, 2009
• FINRA Investor Education Foundation Grants Program - May 6, 2009
• NEFE Grants Program - June 2, 2009

More information about these programs is available at www.nefe.org/grantmaking.

Details about CFP Board’s 2009 grant program will be made available in mid-March.

CFP Board’s Business Update Webinar: March 6, 2009

Join CFP Board at its first Business Update Webinar of 2009 on Friday, March 6. During this event, Marilyn Capelli Dimitroff, CFP®, 2009 Chair of the Board of Directors, Robert J. Glovsky, CFP®, 2009 Chair-Elect, and Kevin R. Keller, CAE, CFP Board's CEO, will provide updates on CFP Board’s recent and upcoming activities, including the latest on CFP Board’s involvement in the Financial Planning Coalition that is working to provide the financial planning profession with a unified voice that can effectively shape the discussion of future reforms to the regulation of the financial services industry. The Webinar will be presented in an interactive format and will be hosted by Mark Johannessen, CFP®.

The Webinar will include time for questions and answers, and certificants are invited to submit questions prior to and during the program. Questions may be submitted in advance of the program through the registration process or via e-mail to webinars@CFPBoard.org.

CFP Board Business Update
Friday, March 6, 2009
1:30 p.m. – 2:45 p.m. (Eastern Time)

Register at https://www2.gotomeeting.com/register/949005761

Recordings of last year’s Business Update Webinars and related materials are available through CFP Board’s Web site at www.CFP.net/aboutus/webinars.asp.

November 2008 Exam Score Release

Score results from the November 21-22, 2008 CFP® Certification Examination were sent to exam takers on January 15, 2009 via first-class mail. Exam results are also available online to examinees through their online CFP Board accounts. Exam results will not be released to examinees over the phone, by fax, or by e-mail.

Individuals who passed the CFP® exam received instructions on how to complete the next steps in the initial certification process. Those who did not pass the exam received a report of deficiencies listed by topic. CFP Board wishes all examinees the best as they receive their results.

November 2008 Exam Statistics for Registered Programs

Performance statistics from the November 21-22, 2008 CFP® Certification Examination were distributed to Program Directors and primary contacts on February 10, 2009. The report provides statistics at the program-, institution-, and national-level for the November exam, as well as cumulative institution and national-level statistics. Institutions with examinees from more than one Registered Program received a separate report for each program.

Registered Programs will also receive a separate report with the names and pass/fail status of students from their institution who authorized CFP Board to share their exam results. Distribution of this information will follow the performance statistics report.

CFP Board is currently reviewing the type and usefulness of the statistical information it provides Registered Programs after each CFP® exam cycle. In order to improve the quality of the reports you receive, we will be soliciting your feedback through a short online survey in the month of February. Registered Program Directors and primary contacts will receive e-mail correspondence with a link to the survey shortly after the performance statistics are provided to programs. We value your input and appreciate any feedback you can share, including wish-list items.

Upcoming Exam Dates and Deadlines

The application deadline has now passed for the next CFP® Certification Examination, which will be administered March 20-21, 2009.

Students interested in sitting for the upcoming July 17-18, 2009 CFP® Certification Examination need to submit complete exam applications to CFP Board no later than 5:00 pm Eastern time on June 3, 2009. Please remind your students that CFP Board cannot accept late applications under any circumstances. A complete exam application consists of:

• Completed application form
• $595 examination fee paid in full
• Appropriate qualifying eligibility documentation (i.e., copy of the transcript, copy of designation/degree, or letter of authorization)

Students who have successfully completed coursework at two or more CFP Board-Registered Programs but have not completed, or had credits transferred to, any one entire program, may qualify to apply for the CFP® Certification Examination under the Multiple CFP Board-Registered Program status. After applying for the exam as a ‘Combo Program,’ they will be required to provide transcripts from each institution to verify completion of the education coursework requirement.

Updated Tax Tables for the March 2009 Exam

CFP® Certification Examinations administered in March test over prior year tax law. The March exam administrations will provide the prior year tax tables and candidates will be expected to use prior year rates and limits with respect to retirement contributions, phaseouts, estate tax and annual exclusion. A sample copy of the Tax Tables for the March 2009 exam are available on CFP Board’s Web site at: www.CFP.net/become/taxtables.asp.

Streamline Your Students’ Exam Registrations with Electronic Graduate Lists

CFP Board-Registered Programs are strongly encouraged to provide electronic lists of their financial planning program graduates to CFP Board. The lists certify that the named students have earned the degree or certification provided by the program, serve as verification that they have met the education required to sit for the CFP® Certification Examination, and enable graduates to apply for the CFP® Certification Examination online without having to provide hardcopy documentation of their education.

We appreciate the efforts of the many registered programs that currently submit electronic graduate lists, and we will continue to facilitate this process to provide an exceptional level of service for individuals who seek CFP® certification. To request an electronic template for your program, please contact us at education@CFPBoard.org.

Please note that the process for verifying students’ education is not fully automated. Exam applications pending education verification are manually cross-checked against the eligibility list for a given institution. Therefore, students should allow 1-2 days for their education to be verified from the time they submit an exam application. Once a candidate’s exam application is complete, an automated e-mail confirmation is sent.

Marketing Tools from CFP Board

Last fall, CFP Board unveiled several new and updated resources to assist Registered Programs with marketing and retention. In addition to updated customizable advertisements and the announcement that CFP Board’s Guide to CFP® Certification booklets are now available to Registered Programs free of charge, CFP Board is pleased to provide Registered Programs with both a Welcome Letter to Students and a Congratulatory Letter to Students completing their program. These and other items are available on CFP Board’s Web site at: www.CFP.net/teamup/communicationtools.asp.

Guide to CFP® Certification Prospect Lists

Registered Programs have access to quarterly lists of individuals who have recently requested CFP Board’s Guide to CFP® Certification. The list is now available online through our secure file transfer site: https://www.CFP.net/cfpsft/. Updated on or before the fifteenth day of January, April, July, and October, each list will remain posted for one quarter, until the next quarter’s list is available.

If you have not already signed up for access to the secure site, you may request access by completing the List Request Form available at www.CFP.net/downloads/Guide_List_Request_Form.pdf and submitting it to education@CFPBoard.org. Once requests are received and processed, those individuals listed as authorized contacts for the institution will receive instructions for accessing the list.

Review of Marketing Materials

Please remember to submit a copy of all printed and Web site marketing materials to CFP Board for review prior to printing or posting. Our goal is to ensure that the CFP® marks are used properly and that the certification process is represented accurately.

Electronic copies of marketing materials can be sent directly to trademark@CFPBoard.org, or hard copies sent by fax to 202-379-2299 or by mail to 1425 K Street, NW, Suite 500, Washington, DC 20005, Attention: Trademark Department. Once your materials have been received, please allow three weeks for review. If necessary, we will provide you with required edits, and at that time, we can also coordinate linkage of your Web site with CFP Board’s Web site.

Share Your Marketing Questions and Wish-Lists with CFP Board

CFP Board is committed to supporting your marketing efforts, and we need your input. We would like to maintain open dialogue in order to best serve you and your marketing team. We encourage anyone who would like to have a greater voice in CFP Board’s development of Registered Program-specific marketing strategies to e-mail your wish-list items and questions to marketing@CFPBoard.org.

Encourage Students to Establish an Account with CFP Board

We strongly encourage students interested in learning more about the CFP® certification requirements to create a secure, online account with CFP Board by completing the form located at www.CFP.net/students. Creating an account will allow CFP Board to provide your students with the most current information about CFP Board policies and the process for becoming a CERTIFIED FINANCIAL PLANNER™ certificant, as well as connect them to resources, such as the monthly CFP Board Report newsletter.

Students who establish an account with CFP Board early in their Registered Program experience will also be one step ahead with respect to registering to sit for the CFP® Certification Examination, since an account is required in order for an individual to apply to sit for the CFP® exam.

Forbes Shines Spotlight on Careers in Financial Planning

Financial Career Options
"For the business graduate, obtaining a degree is just the beginning. What's left is to take a closer look at available career options, measuring which industry sectors have the greatest need for new professionals. The finance industry is multifaceted, offering a variety of positions catering to a number of different skills and interests.... Generally, financial planners with the CERTIFIED FINANCIAL PLANNER[™ certification] are the most in-demand, as they must obtain three years of financial-planning experience, pass several exams (including a two-day, 10-hour case-study exam) and meet continuing-education requirements."

David Kochanek
Forbes
December 10, 2008