How to Get CFP Experience

The CFP designation requires certain work experience standards be met.

The Certified Financial Planner (CFP) designation awarded by the Certified Financial Planner Board of Standards, Inc. can set you apart from others in the financial planning field. To be awarded the designation, candidates must pass an examination and meet educational, experience and ethics requirements. There are various ways to meet the experience requirement, which must be submitted on the Work Experience Reporting Form provided by the CFP Board of Standards.

Instructions

1. Tell your employer you are seeking the CFP designation. Most employers encourage this type of professional development and are willing to assist you to achieve the certification.

2. Read the definition of work experience on the CFP Board of Standards website. Every candidate must demonstrate at least three years of full-time experience in the financial planning field. Acceptable work experience is defined as "the supervision, direct support, teaching or personal delivery of all or part of the personal financial planning process to a client."

3. Identify in which of the six primary elements of the financial planning process you plan to gain experience, "such as gathering client data."

4. Ask your supervisor to assign you to obtain experience delivering all or a portion of the financial planning process for a client, supervising employees who deliver all or a portion of the financial planning process for a client, or teaching all or a portion of the personal financial planning process. Pro-bono experience to clients can be acceptable to meet the experience requirements as long as there is a client and you are acting as a financial planning professional who is providing the client with advice on meeting their objectives using the financial planning process.

5. 

   Complete the Work Experience Reporting Form to receive credit for you experience.

   Complete the required Work Experience Reporting Form and submit it to the Certified Financial Planner Board of Standards to receive credit for your experience.

Tips & Warnings

• The CFP Board accepts all levels of supervision as long as the chain of command leads back to the planner.

• The CFP candidate must be directly responsible for information that is provided to the planner being supervised or directly to the client.

• If you are unsure if the experience you are planning to obtain will meet the CFP work requirements, check with the CFP Board of Standards.

References

• CFP Board: Work Experience, Guide to CFP Certification
• CFP Board: Steps to Initial CFP Certification