Divorce Planner Certification
Personal financial advisers, also known as financial planners, provide financial, investment, tax and insurance advice to individuals. Some are generalists, while others specialize in specific financial issues. Financial advisers who focus on advising those undergoing divorce may decide to obtain divorce planner certification.
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Purpose
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A divorce planner can offer spouses, and their attorneys, guidance in working out a divorce settlement, offering a focus on the long-term ramifications of a financial agreement. The planner can also help newly single spouses figure out how to invest a "windfall" or understand how they should manage child or spousal support income that will eventually terminate.
Education/Training
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Most financial planners hold at least a bachelor's degree, often in finance or business. A bachelor's degree is required to become a Certified Financial Planner (CFP), as is passing a comprehensive exam and having at least three years of experience in the profession. Becoming a divorce planner requires additional education, typically provided through a professional association that certifies divorce planners.
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Licensing and Certification
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Many states require financial advisers to obtain a license before practicing, particularly if the financial adviser is also selling insurance or securities. In addition to licensing, many financial advisers choose to be certified by the Certified Financial Planner Board of Standards. Specialist certifications are also available. Divorce planning certification is typically earned from a school or professional association. One such credential is the Certified Divorce Financial Analyst (CDFA) designation, issued by the Institute for Divorce Financial Analysts.
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References
- Photo Credit Making a financial plan image by Allen Stoner from Fotolia.com
