Why CFPs Are Preferred Over A Financial Advisor
Why CFPs Are Preferred Over A Financial Advisor?
Financial advisor is a popular designation and job role. They are hired by both multi-national companies and individuals who are looking for financial guidance. However while hiring a financial advisor it is highly recommended to prefer a Certified Financial Planner. A certified financial planner is also a financial adviser with an added global certification of CFP.
CFP course is one of the most prominent course in the field of finance and financial planning offering the qualified CFPs ample credibility they merit. The CFP course is highly regarded because of the popular mandate that every CFP must put their clients’ needs ahead of their own. The CFP board continues to monitor qualified CFPs and reserve the right to confiscate the CFP designation from anyone if they don’t meet the set requirements.
The CFP course is not an easy one to crack either. It requires long hours of commitment in terms of education experience examination and ethics. It is also a good idea to enroll for CFP training with reputed ed-tech platform like MyLogic Business Management School if you choose to pursue the CFP course. The live online classes and consistent interactions with experienced industry professionals and expert faculty will help you excel in the CFP course and add immense value to your professional journey.
CFP Requirements
Below are basic requirements set by the CFP board for students and professionals looking to pursue a career as a financial advisor. Meeting these high standards is what sets CFPs apart from any other financial advisor. It is also the primary reason why individuals and companies should choose to hire CFPs over a financial advisor.
Education – To qualify, candidates are required complete a comprehensive course of study at a college or university that offers a financial planning curriculum approved by the CFP Board. Additionally, CFPs are also required to complete 35 hours of continuing education every two years to retain their designation.
Examination – The CFP board requires candidates to clear a co comprehensive, two-day, 10-hour CFP Certification Examination.
Experience – Another prerequisite for candidates to be awarded the CFP designation is for them to have a minimum of 3 years ' experience in the financial planning process
Ethics – The final requirement set by the CFP board is that CFP professionals should agree to abide by a strict code of professional conduct. It is known as the CFP Board's Code of Ethics and Professional Responsibility that establishes their ethical responsibilities towards the public, clients, and employers.
Conclusion
The CFP board has set high standards for CFPs to keep up so that CFP professionals don’t abuse their power while managing millions of dollars’ worth of investments. Hence, their knowledge, skill and performance will supersede other financial advisors.