How to Become a Certified Financial Planner in Connecticut

Becoming a CFP requires board-certified training.

A certified financial planner deals with all aspects of her clients' financial lives and prepares a comprehensive plan to help them meet their goals. To represent yourself as a CFP, you must gain certification from the industry's board of standards. If you want to practice in Connecticut, you must also be registered and approved by the state's Department of Banking.

Instructions

1. Obtain a bachelor's degree. It can be in any subject, but preferred fields are accounting, business, math and economics.

2. Take the Certified Financial Planner Board of Standards' course of study. This is offered at more than 300 schools around the country. You'll learn about financial planning principles, employee benefits and insurance, investments, taxes, retirement and estate planning.

3. Pass the CFP board's certification exam. This is a 10-hour test, divided into three sessions. All questions are multiple choice. There is a $595 exam fee. The exam is given three times a year, in March, July and November, at 50 locations around the country. There is an exam site in New Haven, Connecticut.

4. Obtain at least three years of relevant work experience before full certification. This can be providing financial planning to clients or supporting another professionals with planning services. It can also be teaching the financial planning process.

5. Register with the Connecticut Department of Banking as an investment adviser agent. This is required under the Connecticut Uniform Securities Act. You must complete Registration Form U-4 and pay a $100 registration fee. Contact the banking department at:

   Connecticut Department of Banking
   260 Constitution Plaza
   Hartford, CT 06103
   860-240-9299
   ct.gov/dob/site/default.asp

6. Prepare a brochure or disclosure document that includes information on your education and business background. You will be required to provide this to new clients in Connecticut.

References

• Connecticut Department of Banking: Investment Adviser Registration Instructions
• Connecticut Department of Banking: Choosing a Financial Planner
• Certified Financial Planner Board of Standards: Steps to Initial CFP Certification