Being a financial planner can spell success for those who want to pursue a career in the finance industry. A financial planner is a professional who deals with various personal financial issues through proper planning such as cash flow management, estate planning, business succession planning, education planning, investment planning, retirement planning, insurance planning, tax planning, as well as risk management. He or she creates a financial plan or strategy to enable the client’s specific financial situation to meet specific objectives.
A financial planner must complete a CFP certification exam through a local university or an online school to get certified. This will help him (or her) to build financial planning credits and set himself up in a globally expanding financial planning profession. But before that he must finish specific requirements set by the CFP board of standards. First, he is required to meet all the initial requirements such as educational requisites (he must have a bachelor’s degree, preferably related to finance, insurance or the like), examination, experience, and ethics. Second, he must also have the ability to demonstrate financial planning skills such as data gathering from clients, analyzing and assessing client’s financial status, as well as developing and monitoring his own financial planning ideas and recommendations.
Most aspirants prefer taking their CFP certification exam online as it has all the advantages over a local school or university. Besides dependability, usability, and interactivity, it is offered at a reasonable price with an “instructor-connect” program to let the student interact with an online teacher or advisor who can guide him through each phase of the exam. Most online courses come with videos, PDF files, and other study materials. This online coursework is tailored for individuals who don’t have the time to go to a local school as it allows the student to take it where and when it is convenient.
After certification, continuing education (CE) requirements must be met for renewal. This is done by taking a CE course every two years.
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