Competency Standards FAQs

Nothing changes immediately.

All approved updates to the Competency Standards have future effective dates in Q2 2026 or 2027. Current certification, experience and continuing education requirements remain in place until those dates. CFP Board will provide advance notice, detailed guidance and transition resources ahead of each effective date to support a smooth transition.

Each approved update has its own effective date. Implementation will be phased over time, with changes taking effect between Q2 2026 and Q2 2027, depending on the standard. CFP Board will communicate clearly and well in advance as each effective date approaches.

No. While the Board approved several updates to the Competency Standards, not every recommendation moved forward at this time. In some cases, the Board determined that existing requirements continue to serve the profession and the public well. In other cases, feedback indicated that additional study and engagement were needed before making a change.

The Board did not adopt two proposals that were included in the Public Comment process:

One proposal would have allowed up to 10 CE hours to be earned through pro bono financial planning service, at a ratio of three hours of pro bono service for one hour of CE. CFP Board strongly supports pro bono financial planning and recognizes its value to communities and the profession. However, continuing education serves a distinct purpose: fostering consistent, up-to-date competency across all CFP® professionals. While pro bono service provides meaningful experience, it does not replace formal CE in ensuring exposure to evolving technical knowledge, regulatory developments and professional standards.

The Board also did not approve a proposal to extend the window for qualifying experience to allow up to 15 years of experience prior to applying for CFP® certification. While the proposal was intended to recognize longer career paths and prior professional experience, the Board determined that the current experience timeframe appropriately balances flexibility with the need for recent, relevant experience aligned with today’s financial planning standards. Financial planning continues to evolve rapidly, and experience gained too far in the past may not reflect current expectations around fiduciary advice, regulation and client engagement. Maintaining the existing window reinforces that CFP® certification reflects demonstrated competence that is both substantive and current.

During the public comment period, CFP Board received a significant number of thoughtful comments raising broader questions about the bachelor’s degree requirement, including access to the profession and workforce considerations. Based on that feedback, the Board made a deliberate decision not to make changes at this time. CFP Board will convene an Academic Pathways & Standards Working Group in 2026 to conduct further analysis and consider whether the requirement should be maintained or modified. The current bachelor’s degree requirement remains in place.

Financial planning continues to grow in complexity across areas such as tax law, regulation, technology and client needs. The increased CE requirement reflects these expanded competency demands and helps ensure CFP® professionals remain current and well prepared to serve the public.

The increased CE requirement becomes effective in Q1 2027 and is not retroactive. CFP® professionals will be subject to the 40-hour requirement only in their first full two-year renewal cycle that begins after the Q1 2027 effective date. No one will need to adjust a renewal cycle already in progress.

Yes. The updated standards allow:

• Up to 10 excess CE hours to carry over into the next renewal cycle, and

   

• Up to five CE hours focused on practice management.

   

These provisions are designed to add flexibility as CE expectations evolve.

Maybe. NASAA’s model rule does not currently exempt IARs who already satisfy other professional education and ethics requirements through their certifying organizations. Please check with your CE provider to determine whether any courses you would like to take have been approved for both organization’s requirements. CFP Board is working on behalf of CFP® professionals to minimize burdens in this area.

CFP Board may designate mandatory CE topics in response to significant changes in laws, tax codes or regulations that materially affect financial planning practice. This authority is intended to be used selectively and transparently, ensuring CFP® professionals remain current on time-sensitive developments that directly affect client outcomes.

No. Required CE on specific topics is not about generating revenue; it is about relevance, timeliness and the best interests of consumers.

The requirement is not tied to CFP Board-provided courses. CFP® professionals may satisfy it through any CFP Board-approved CE program. There are more than 1,100 approved sponsors offering a wide range of CE options.

When regulatory or legal changes occur, CFP® professionals must be prepared to respond quickly and competently. Required CE ensures timely education that safeguards consumers, maintains confidence in the CFP® marks and gives professionals broad flexibility in how and where they meet the requirement.

As part of its review, the Competency Standards Commission considered a range of professional designations to assess alignment with CFP Board’s competency-based standards for Accelerated Path eligibility.

CIMA® certification was included because it reflects a depth of professional preparation that aligns with the rigor and expectations of CFP Board’s Competency Standards. Adding CIMA® certification also brings greater consistency to the Accelerated Path by aligning it with other credentials that demonstrate comparable rigor and professional preparation.

Accelerated Path eligibility does not waive CFP® certification requirements. Individuals with CIMA® certification must still earn a bachelor’s degree or higher, complete the Capstone Course, satisfy the experience requirement, pass the CFP® exam and meet ethics and background standards.

All changes apply prospectively. Experience and education completed before the applicable effective dates will continue to be evaluated under the current standards. CFP Board will provide guidance to candidates, employers and educators well in advance of any changes taking effect.

The updated standard formally codifies when and how pro bono financial planning experience may count toward the Experience Requirement. The new standard also places a cap of 500 hours allowed. Doing so provides greater clarity, consistency and transparency for candidates, educators and employers, and evaluates all candidates using the same criteria.

By setting clear parameters, CFP Board can ensure that pro bono experience counted toward CFP® certification meets the same expectations for supervision, scope and rigor as other qualifying experience, while continuing to recognize service to the public as a meaningful part of professional development.

CFP Board will support CFP® professionals, candidates, firms, educators and CE sponsors through advance communications, detailed implementation guidance, FAQs, webinars and practical resources. Significant operational and technology work is underway to ensure changes are implemented clearly, consistently and fairly.

Yes. CFP Board regularly evaluates certification standards to ensure they remain rigorous, relevant and practical. Ongoing review is part of CFP Board’s responsibility to the profession and the public..

CFP Board will publish updates, timelines and implementation resources on its website as effective dates approach. Stakeholders are encouraged to monitor official CFP Board communications for the most current information.