For Education Partners



In 2009, Certified Financial Planner Board of Standards, Inc. (“CFP Board”) released a proposal for the addition of a Financial Plan Development Course requirement to CFP Board’s education standards. The proposed course would 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. Following a 60-day comment period, CFP Board thoughtfully reviewed the more than 225 comments received.

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.

The following message regarding the approval of the new course requirement was sent to directors of CFP Board-Registered Programs:

Friday, March 5, 2010

Dear Program Director,

Yesterday, CFP Board's Board of Directors approved a change to the current standards for the curricula of CFP Board-Registered Programs by adopting a financial plan development course requirement. We are in the process of outlining detailed specific information regarding the scope of the new requirement and timetable associated with this new requirement, and we will make that information available to you within the next several weeks. We wanted you to be among the first to hear that the new course requirement had been adopted.
As you are aware, the proposal for this new requirement was announced last year and released for comment in August 2009. We have had substantial and ongoing discussion with representatives of all our stakeholder groups during and after the 60-day comment period. The open sessions at the 2009 Program Directors' Conference were especially helpful in eliciting constructive feedback from the Program Director community. Our Council on Education and Board of Directors appreciated the volume of thoughtful comments we received on the proposal. The implications of this requirement for all types of programs and delivery formats were important factors in the Board's deliberations.
The purpose of this new course requirement is to require the financial planning student to demonstrate the ability to integrate and apply his or her knowledge of financial planning topics, as received through the curricula taught by CFP Board-Registered Programs. The Board's adoption of this new course requirement is recognition of the increasing importance for the educational requirements for CFP® certification to prepare students not only with technical financial planning knowledge, but also the skills to integrate, apply and communicate this knowledge to their clients. Through this new course requirement, future CFP® professionals will have proven their ability to apply the financial planning process to real-life situations, as well as their ability to communicate their planning recommendations to a client. The requirement will not only become part of the standards for CFP Board-Registered Programs, but will be considered part of the educational requirement for CFP® certification.
Over the course of the next several weeks, we will provide you with additional details about the new course requirement. At this time, I can share with you that one component of the new requirement will be that the course be the equivalent of either 45 contact hours or 3 semester hours. CFP Board believes the new requirement will benefit the public by more comprehensively preparing students for the practice of personal financial planning. We also expect the new course to be welcomed by your students. We look forward to working with you and your colleagues at other institutions throughout the United States to implement this new requirement. I appreciate your dedication to providing high quality educational opportunities for future financial planners, and your ongoing support of the CFP® certification.
Best Regards,
Kevin R. Keller, CAE
Chief Executive Officer
Certified Financial Planner Board of Standards, Inc.
1425 K Street, NW, Suite 800
Washington, DC 20005
P: 800-487-1497
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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Council On Education
CFP Board’s Council on Education advises CFP Board on the development and clarification of all educational policies related to the CFP® certification process.