eHow launches Android app: Get the best of eHow on the go.
Summary: The Financial Planners Standards Council is an independent organization that issues the CFP designation, and it oversees the testing and standards that go into the designation. Learn about how the FPSC works as a self-regulating organization with help from a financial strategist and consultant in this free video on the Financial Planners Standards Council.
Ted Schmidt has spent the last 21 years as a financial strategist and consultant. He is active in the Hendersonville Chamber of Commerce and the Real Estate Investors of Nashville.read more
"Yeah, the financial planners' standards council is a independent organization, it's not government run, thank goodness, that takes in has put together the curriculum, oversees the testing and the standards and issueds, issues the CFP designation. And like the NASD, is a self-regulating organization, meaning there's nobody that's telling them what to be doing. Quote and quote, other than them. And that's not all together bad thing, we live in a free society and so again, having a professional designation, for example, LUTC, Life Underwriter Training Council. This is same type of thing where it's a curriculum, it's classes that a person can take so that they have the activity knowledge and a little bit of know-how as far as what to do when they find themselves in a situation where they want to try to help somebody with insurance. Well, in like fashion, the council set standards and holds people to those standards and if you can pass that test you can get that designation. There you go!"