Colleges & Universities

On March 4, 2010, CFP Board's Board of Directors approved the addition of a financial plan development course requirement to CFP Board's education standards, following thoughtful review of comments on the proposed requirement received during a 60-day comment period held in 2009. The course requirement has been designed to enhance the knowledge, skills and abilities of individuals seeking to attain CFP^® certification and implement an assessment of their ability to deliver professional and competent financial planning services to the public.

All CFP Board-Registered Programs will be required to submit a Financial Plan Development Course to CFP Board for registration no later than December 1, 2011. All students of CFP Board-Registered Programs whose initial dates of matriculation occur on or after January 1, 2012 will be required to take this course. Completion of the course will be required for those who register under “Challenge” status for the March 2012 or later administrations of the CFP^® Certification Examination. The information and resources on this page provide additional detail regarding the purpose, criteria and registration procedures for the Financial Plan Development Course.

CFP Board as a Resource

Registered Programs are encouraged to contact CFP Board with any questions about the new Financial Plan Development Course requirements.  CFP Board can share tips and provide references to materials related to all stages of the development and implementation of the course. Should you have any questions, please contact: Dr. Charles Chaffin, Registered Program Manager, at cchaffin@CFPBoard.org, or 202-379-2218.

Frequently Asked Questions

1. Including the new capstone course requirement, how many total contact hours will be required for each Registered Program?
270 contact hours.

2. How should we begin this new capstone course?
Beginning the financial plan development course with an initial review of program content at the theoretical level is a great opportunity to assess student achievement relative to content across the curriculum and to bridge any gaps between students’ initial introduction to content and their participation in this capstone experience. This type of review is also a great opportunity to assess the quality of instruction at your Registered Program before moving into the development of a comprehensive financial plan.

3. Can students present their comprehensive financial plan in groups of two if class sizes are extremely large?
Yes. It is important that students have the opportunity to demonstrate their ability to develop and present a comprehensive financial plan. The instructor of the capstone course needs to ensure that each student is receiving a thorough assessment during all components of this capstone experience. Therefore, the exact format of the assessment is at the discretion of the instructor.

4. Does the students’ presentation of the comprehensive financial plan have to be live?
No. Students can be asked to record their presentation if that is the most effective format. Instructors are encouraged, however, to ensure that there are no issues with regard to academic integrity (learner identity, timeliness of presentation, etc.) throughout this assessment.

5. Can I get help from professionals to assess students’ presentation of the comprehensive financial plan?
Yes. Registered Programs are encouraged to engage CFP^® professionals in assisting with student assessment. This is a great opportunity to not only get help with assessment, but also showcase the skill-level of your students, which could lead to future employment opportunities for alumni. CFP Board recommends that any non-faculty CFP® professionals involved in the assessment be provided a thorough orientation to ensure that the assessments are valid.

6. In general, what is the biggest change to our programs beyond the capstone course?
The content requirements for CFP Board-Registered Programs are relatively unchanged, even with the introduction of the financial plan development course requirement and the upcoming changes to the CFP^® Examination blueprint. CFP Board continues to encourage instructors to invent avenues for students to experience the required content, moving beyond a theoretical understanding to application, synthesis, evaluation, and creativity.

7. If my campus administration does not approve my capstone course before December 1, 2011, will CFP Board de-register our program?
No, as long as the program has submitted a financial plan development course application to CFP Board by December 1, 2011 with indication of the pending administration approval. CFP Board will work with faculty throughout this process. Registered Programs need to communicate any issues that they may be having as the deadline approaches. Although our objective is to ensure that all students receive this capstone experience, we want to work with our education partners throughout this significant addition to the curriculum.

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