CFP Update-PowerPoint presentation

PowerPoint presentation

Pdf Summary

The CFP Board's update, presented by Liz Miller, 2024 Chair-Elect, and Leo Rydzewski, General Counsel, outlines key strategic priorities and standards for the CFP certification process and professional conduct. The certification journey involves completing specific educational requirements, such as approved coursework and obtaining a bachelor’s degree; passing a comprehensive exam based on Principal Knowledge Topics; and gaining relevant work experience through either a standard (6,000 hours) or apprenticeship (4,000 hours) pathway. <br /><br />Ethics and ongoing competency are crucial pillars of the CFP certification, requiring candidates to adhere to the Board’s Candidate Fitness Standards and to declare compliance with ethical standards annually. Certified Financial Planners must also complete 30 hours of continuing education every two years, including two hours on ethics.<br /><br />The update also discusses the enforcement of ethical standards through procedural rules, sanction guidelines, and a framework for evaluating candidate fitness. Misconduct sanctions range from private censure to revocation, based on factors such as the severity and intent of the misconduct. Proposed revisions for mitigating and aggravating factors aim to enhance public trust and maintain the profession's integrity.<br /><br />Public awareness and educational efforts continue to be a priority, with campaigns demonstrating significant progress, such as increased audience awareness and preference for CFP professionals. The CFP Board encourages stakeholders to provide feedback on proposed standards via questionnaires or comment letters by December 3, 2023.<br /><br />The CFP Board continues to build public trust by enforcing rigorous standards, promoting ethical behavior, and advancing the financial planning profession through comprehensive education, examination, and professional conduct requirements. For more information, resources are available at CFP.net and through initiatives like the Girl Scouts of the USA National Convention.

Keywords

CFP Board

certification process

professional conduct

educational requirements

continuing education

ethics

candidate fitness standards

public awareness

ethical standards

financial planning