Certified Financial Planner Career - What Does a CFP Do
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I like the idea of being a financial planner. I tend to enjoy planning out my own personal finances. I grew up seeing my family struggle with finances, so being able to help people avoid hard times due to finances is something I can see myself doing. Thanks for the video. It gave a lot of good information.
Thanks for the overview! Working towards my CFP currently!
I’m actually a nurse and while in nursing school realized that I actually like finances, but wasn’t going to change my major when I was nearly done. I was so broke in college that I had to teach myself about finances in order to survive.
Now I’ve been a nurse for 2 years and have really liked finances more. I am finishing up my bachelors in nursing. I’m thinking of doing a masters in financial planning as I am always advising my friends but would definitely like a formal education and start working as a CFP. There are so many nurses that need financial help...it is CRAZY!!
You’d perfect to help nurses. Love your moxie. Keep it up😝
Or how about trying be okay with getting advice from people who are in the industry full time!? At the end of the day - you can pass the CFP exam but not even get the marks because you won't qualify by just giving friends financial advice. There's a professional time period you will also need to justify.
@@andrewg4us2010 Hence the formal education. Talking with friends is just seeing if I like the field. I'll need courses as I am in healthcare.
Hi! In my experience working in wealth management, coming from a different career path has given many advisors a “niche” of clientele and has benefited them greatly. If you decide to formally pursue this career, you would have that advantage of having a medical professionals network to tap into.
@@lisseta1001 I definitely plan on tapping into that niche.
Thank you for this video! I now know that I want to be a CFP and get my CFP license and it was very inspiring. I am someone who loves people, likes to give advice, and I love to see people succeed.
Glad it was helpful!
Thanks for this video! Great to know how to prepare to become a Certified Financial Planner for anyone thinking about it! 🙌🏼
You are very welcome!
I am most definitely working and earning money to become a Certified Financial Planner soon. I'm also saving up what I can to get started with learning the basics of being a CFP.
Good to know. Thanks.
You bet
Yes I am considering!! Thanks for the video
Join the community www.jumpstartcoachinglab.com
If you're an aspiring advisor and want a faster route, register for my free webinar:www.jumpstartcoachinglab.com
Dominique Henderson yes I am. Any recommendations for a young African American male? I just turned 25 and have about 5 years of sales experience. Thanks!
I love this question Deuntae! 🙏🏽 for asking.
I'll try to keep this really high-level and actionable.
1) Find a mentor. This is a difficult biz and going at it alone is not advisable. 😉
2) Get good at listening. Financial advice is moving towards more emotional intelligence (95% of the process) part and away from the cognitive intelligence (
Deuntae Carr I’m a college student and I’ve already started two small businesses while in highschool. It sounds like becoming a CFP would be a great fit later in my career, but what steps can I start to take to secure a job working in a firm so I can gain those 6000 hours of experience?
@@shaunleonard4738 CFP experience has to be gained by working directly with clients on "financial planning". So this can only be gained through employment (if out of college) or internships (if in college).
I'd start with www.cfp.net to find partnerships and opportunities.
I'm really thinking about this career path. I love talking to people - whether it's front facing or over the phone. I also gain satisfaction from seeing people succeed from my advice. I'm looking for resources to make a decision because I'm still a little on the fence about it
Thabk your for sharing. I am in the process of getting my BS in business with a financial planning certificate half way through my college degree. I'm so excited to get this because I have been fascinated with numbers. I have always looked up to big time stock market guys and financial gurus since I was young. Anyways I love your videos. Thanks for sharing. New follower here.
I appreciate the love. Which program are you using?
@@DominiqueHendersonCFP do you think in 10-15 years as wealth passes down generation,self directed investments will be more preferable for clients and financial planning won’t be looked upon as much as it is now
Why do you think it will not be?
@@DominiqueHendersonCFP considering all the education that is available online and social media. It will empower a lot of people on self directed investments
That’s not why people hire financial advisors (to provide them with more education).
I'm currently working with my Parents, getting paid peanuts and stacking up as much as I possibly can to start the Education part of becoming a CFP.
Dominique, I’ve been digging into your videos today and have found your insight and knowledge so helpful! I’m interested in this career path for sure. I’m active duty military looking at Online Colleges to get a Finance-Financial Planning degree while serving. What accreditation should I look for in an online school? I like SNHU, which is on the CFP Board schools list; is there another accreditation to look for? Thanks for your great content, you’re an inspiration!
Create an account at cfp.net. Their guidelines will be most up to date.
@@DominiqueHendersonCFP Thank you!
I am very interested but in Puerto Rico the PFC certification is not well known. However, universities do not even mention it. If there is any community or page to follow to achieve the goal of obtaining that CFP certification.
That was an amazing informative video. I'm in my last year in Bachelor degree in the field of Finance. Along with CFP that I'm going to take, do you think I should do an MBA or would be waste of time and money?
Here's your answer man: th-cam.com/video/QMwQiJ_3L68/w-d-xo.html
I am currently on my path. I have been in the finance industry for now 30 years. But only recently decided to get my CFP to hopefully incorporate a consulting firm with the already license I currently hold. I am a stock broker, realtor, MLO and Life/Annuities agent. This is the last cert I need to get it all done. Its been an expensive journey, but in the end will be well worth it.
Congrats. Be sure to subscribe to the email list...got some stuff for you! start.jumpstartcoachinglab.com/join
I am seeing it really happening in Australia right now, where Mums and Dads have seriously mistaken the advice of a real estate agent with that of a CFP. I am very keen to get my arse into gear here and start making a difference in peoples lives and actually become a CFP. Great vid
Shane check this out: m.facebook.com/?_rdr#!/groups/117198802285353
Im with you Shane. im in Australia too and about to return to get this qualification.
Hi Sir,
Thank you for your video..
I am planning to change my career as Financial Planning.
I have always given advice to my friends and family, and it has always made me happy.
Planning to start the CFP program.
Do guide me if I need to take care of some point before I start this new path. Will always be grateful to you.
Thank you in advance.🙂
Go to www.jumpstartcoachinglab.com and register for the free webinar. You'll get answers!😉
Awesome videos! I get so much great energy from talking about finances. I started in insurance (L&H) over 10 years ago but starting working in nonprofit for the last 6 years and haven’t used my license. I just kept up the CE credits.
Do you have a recommendation for the best way to transition back into financial services? I am ultimately interested in becoming a CFP.
Hi T Marie!
I'd start with researching what firms are in your area and what positions that have open. You'll need experience to satisfy the experience requirement anyway so you may as well as start with finding a few firms you could work for.
This might help also:djh-capital.com/jumpstart-career-guide
If Financial Advisors could use social media more effectively it would be a game changer. I had a booming business while living in Maryland then made the mistake of moving to Arizona and for obvious reasons my business died. Now I'm headed back to my hometown (Dallas Area), I am not sure I will continue to be a Financial Advisor, I wanted to get the CFP certification a while back but not so much now. I will have a Mortgage Loan Originator license next week (I like the freedom of marketing). I like you have a passion to help others but it is imperative for me to market myself without restraint.
Dunn The Finance Guy I’m hopeful the industry will change to match the times (the defining legislation is from 1940).
@@DominiqueHendersonCFP yep I got fined by 2 firms for social media but one company I made the most anyone ever made there in 1 month needless to say when they clamped down all my business died
Great video! This was really encouraging to me as I just started looking into this certification. I have a bachelors degree in a completely different field, aeronautics, but if I took a degree course towards getting this certification, would that work? I went to Liberty University and they offer 6 courses online to become CFP so I was thinking about that route.
Before you begin, do yourself a favor and attend my webinar. A lot of things you might not know....www.jumpstartcoachinglab.com/
@@DominiqueHendersonCFP I will! Signed up with email but I cannot attend your next webinar and I didn't see an option to pick a different date. Do you have them weekly?
I am looking into becoming a CFP.
Hi from Brazil! I am studing to get my CPA20 certificate (I think this one is only used in Brazil) but I pretend to get my CFP too, in a no so far future. Thank you for share w/ us. Sucess!
Best of luck!
Just started my CFP program tonight. Just got the textbook and curriculum! Ugggg, time to lose some more hair! Lol
How's the journey coming?
Thanks for the video. I am working as a relationship banker for 2 years. I have series 6, 63 and Life. Do you think it would satisfy the experience requirements for CFP? How many hours should I spend every day to study and for how long, given that I am very motivated and dedicated? Thank you in advance!
Thanks for watching! Here's your answer: th-cam.com/video/O_n0PIGRR0Y/w-d-xo.html
Thinking about obtaining my CFP certification.. definitely interested in personal finance .. knowledge is power! Want to be self employed as well.. what are some money management firms I can get apprenticeship with?? Thanks in-advance !
Attend the webinar so you can learn: djh-capital.com/jumpstart
hello Dominique, I have been watching your videos non stop the past couple of weeks. I am still in high school and love to talk with people. I was wondering how long it took you to gain enough experience to start making more than say 70k a year? Thank your for putting out all these videos they have really helped me in deciding what I want to pursue as a career.
Thanks for sharing!!
I talk about my path in this video: th-cam.com/video/pZ1xkVicIEg/w-d-xo.html
Dominique, lucky to see your video which was posted a year and a half before. You sound so motivating, thanks for that. I have got a quick question, i am from India and will be migrating to Canada as a permanent resident. The process is almost done and i am expecting to land in Canada by first quarter of next year. I am just confused whether to choose CPA or CFP and i believe i have got the right person to ask this question. Something about me - I am from Finance and Accounts background with 8+ years of experience in Financial Panning and Analysis role and qualifications are Cost and Management Accountant (CMA India), Qualified CIMA from Chartered Institute of Management Accountant, UK Bachelor of Business Administration (BBA) and a post graduate diploma in Banking and Finance (PGDBF) . Do you recommend me to do CFP or CPA please?
Thanks for watching @Hari.
This is tricky. Definitely recommend checking out my FREE community to help you answer this: www.jumpstartcoachinglab.com/community-resources
Hi Dominique - great video. I work in public accounting (financial services - PE/Hedge fund tax) and wondering if this experience will qualify? Can't seem to find much info on the CFP board.
Hey Roy Baker! Thanks for subscribing. Typically experience requirements are satisfied while doing elements of financial planning with retail clients. www.cfp.net/become-a-cfp-professional/cfp-certification-requirements/experience-requirement.
If you think what you have done qualifies you can submit a challenge.
Thanks for that info.
@@roybaker1079 Did you ever send me a LinkedIN connection request?
@@DominiqueHendersonCFP just added you. Really enjoying your videos!
Hey Dominique, I’m at a crossroads. I’m currently in school studying financial planning. I really enjoy everything about finance and helping others learn it and apply it. The other thing is I love real estate, mostly real estate investing. However, my enjoyment for real estate has lead me to the interest of becoming a real estate agent and eventually a realtor. I’m trying to figure out which road to go down and interested in what you recommend I should do.
Do it my man. I am a realtor. I am in school to get an MBA. I am also in the process of enrolling in a CFP program.
My advice is spend some time in the community--it's free.
www.jumpstartcoachinglab.com
Hello ! My name is John Navarro, I'm from Puerto Rico; In recent months the CFP certification has caught my attention. Thank God I found someone who knows about this certification. My first question is I just need a bachelor degree in BBA accounting, economics or finance ? And do you also need master’s degree ? The second question, is it matter your GPA as a requirement ? And the Last question ,do you need experience before taking the exam? I wait for an answer thanks.
Thanks for watching!
1. Check out this video: th-cam.com/video/kxjxmCUiCYk/w-d-xo.html
2. Create an account at www.cfp.net
3. Download my free guide for more info: djh-capital.com/jumpstart-career-guide/
ini my country (Indonesia), it almost imposible to get 40k salary due to the people do not realy understand that how's important financial planner (CFP) is. any idea sir? im CFP holder and experienced in invesment firm for 4 years. should i find a job to another country like us or canada?? thanks for ur information.
Thanks for watching 😀
If there is no or a very small consumer market for your services you should consider:
1) offering what they want (e.g. budgeting, financial coaching)--although you are likely "overtrained" for this;
2) offering what you are trained for in a virtual environment (e.g. see if you can work with consumers in other locations virtually);
3) moving to another location to offer your services physically or in person.
Hopefully you can find a solution, because we need more good financial planners!
I like the idea of being behind the scenes, but I didn’t catch the title of that job
th-cam.com/video/JwM-mKqpIi0/w-d-xo.html
What are your thoughts on ChFC? I don't want to practice, I want to learn so that I can teach. My company offers personal financial coaching and education, and there are to many people of color that don't progress economically because they don't understand the importance.
Hi!
I haven't compared the curriculum of the ChFC and the CFP side-by-side.
Here are at least to major differences I've noticed...
1. There's more pub around the CFP than the ChFC and that pub leads to more public awareness (a positive for practitioners.)
2. After the education requirement, CFP designees have to sit for comprehensive exam and ChFC's do not...so it is a bit more rigorous.
The CFP curriculum offers plenty by the way of what you are trying to do and would serve as a good resource even if you don't decide to practice. I'd imagine you could purchase the curriculum from any provide like Dalton, Kaplan, etc.
I hope that helps.
Check out this video: th-cam.com/video/JO3kv25WXMI/w-d-xo.html
Is there no chance to have cfp certification without a degree? Or is there any other financial certification beside cfp that doesn't require a degree?
No degree, no CFP. ChFC doesn’t require a degree. Register for challenge, we’ll talk about it: www.domhendersonsr.com/superstar-challenge
I believe you mean to say you are a CFP practitioner, not just a CFP... In all seriousness though great vid!
Would obtaining a master’s degree decrease the CFP experience requirement if you’re coming from a non finance field?
Maybe. It depends on what that non-finance Masters degree was in. You should do a transcript challenge when you apply to CFP board to see.
No. It won't reduce the experience requirement. Let's be honest
I have a background working in account.Is becoming a financial adviser a good path for me? I really want to help people.
Hard to say Andrew :-)
But (and this is a big "but"), I'm going to offer you a special invite.
Go to this website: djh-capital.com/aspiring-financial-professionals/. Sign up for the list and you'll get an invite to my next live "ask me anything" coaching call. It'll be easier to have a dialogue with you in that format.
Ok, If I want to be a financial planner what education do I need, where to get it (hopefully online) and what tests do I need to take. I do not work for anyone, I am self employed, have been for many years and I have a bachelors degree in accounting. Really this is more for myself.
Check out www.CFP.net
@@DominiqueHendersonCFP Thank you so very much. I am looking over the information now.
No worries. If you have interest in a program to help you develop professionally send me a DM on FB or IG👍🏽
I am thinking of taking Financial Major. Will financial advisor especially person with CFP still be a good career in the next 5-10 years?
Hey @Cahyo, watch the video on my channel I did with Calvin Williams, Jr.
If you still have questions, check out my community to help on your journey: www.jumpstartcoachinglab.com/community-resources
I'm considering becoming an Accredited Financial Counselor or a Certified Financial Planner.
This may help you decide: www.jumpstartcoachinglab.com/make-the-leap-registration
@@DominiqueHendersonCFP Thanks!
I'm trying to get a BS in accounting and Finance but I'm debating switching to Finance or International Business
What did you decide?
@@DominiqueHendersonCFP I switched to International Business.
CFP or CFA or Weather manager designation. I am not the fence. What do you think, I love client facing... but the continues education of CFP seem like a money drain.
All depends on the build my friend. Building a multi-million practice in theory sounds nice from a revenue standpoint, but you essentially become a manger of people. Whereas on the flip side you could consider something with no staff and
Is it best for law student to choose financial advisor? If it is can i do both firms simultaneously?
What's best for you is unknown but it can be done simultaneously.
I am currently doing my final year of graduation India.... and I'm planning to do pg diploma in financial planning canada so can you guide me ....should I do the diploma in canada and go for CSC exams for getting the certification as certified financial planning or directly do the CFP exam in india? I'm so confused about this.
Thanks for watching @Priyadarshini.
I'd say if you need some encouragement/help along your journey, make sure to check out my FB community: www.jumpstartcoachinglab.com/community-resources
I need help... I am not on the field yet but will graduate in August 2021. I will get my certificate in December 2020. I would like to know where and how can I get the experience and what are the avenues in this field in Florida. Thank You
Hey Edrick thanks for watching. Make sure you catch Wednesday's episode. I'll be making available a guide that will give you 10 things for advancing your career in financial services.😉
@@DominiqueHendersonCFP I am looking forward to it. Like you stated, I will have to take a dive in order to attain my objective, but the fear of not having any experience nor directions is the current battle that I am embracing (since I do not have an idea on how my current life routine, income, lifestyle, and children will be affected). I currently have a great career that would offer bigger opportunity with this degree, but I also believe my career growth with the brand or under corporate would not enhance nor nourish my growth as an individual to be able to embrace all side of the spectrum of my college education. I may be wrong and nothing bad towards my brand that has been good to me by far, but I want to experience the feeling to know that I am helping people under a brand that carries my name, legacy, and culture.
If you go to the military instead of college could you become a cfp?
Luh Zach34
1. You need a bachelor's degree to be a CFP.
2. However you don't have to go to college to get CFP coursework done. There are plenty of board registered programs. Go to www.CFP.net
What are your thoughts on certification vs a masters degree in financial planning
🤷🏿♂️ It depends on if you want to be a financial planner and serve clients. The public has more awareness around the CFP marks than they do a Master's degree in financial planning. And although you will learn a lot of the same things you are going to spend more money on the degree. But if you want to stay in academia...the Master's degree is probably a better route to go.
Dominique Henderson No not necessarily, I just wanted to know a better route, especially if I don’t have any experience with FP. I wouldn’t want to get into more debt if it isn’t necessary!!!
+Kamika Camilien CFP is definitely cheaper than a masters in financial planning. All you need is a bachelors degree and then you can take the classes and exam.
Dominique Henderson Thanks!!!!
I want to be a financial planner but I’m concerned that is it sales based
Plenty of non-sales based position, but the salaries are also limited.
Can you work as a cfp from your laptop and travel?
Yes. Just depends on how you decide to run your practice.
Hello Dominique sir, I am really interested as a career as CFP, and wanted guidance from you, could help me out? could you connect through linkedin or other mode of communication?
rahul thaker register for this www.jumpstartcoachinglab.com/
Just graduated from college with a BS in math, but have been struggling to figure out what exactly to do with that degree lol. I have been looking into an online program that will prepare me for the CFP exam in only 9 months, but the truth is that I have a very limited knowledge of finances, so this would essentially serve as a gateway into the world of finance for me. All I know is that I like numbers and am good with people, but that's about it. Is diving into the world of CFP a good idea, or would you advise some other experience first? Thank you!
1. Watch this video
2. Join this group afterwards: facebook.com/groups/beingafinancialprofessional/
i will like to know more
Join the community Angel and you can participate in group coaching www.jumpstartcoachinglab.com/happy-300
Where can I go to obtain this certification?
CFP.net
I am a semi qualified CA (India)
Will doing CFP helpful?
Hi Sumaiya! Thanks for watching in India.
I really depends... The questions I'd ask myself are:
1) is financial planning valued in the culture I'll be working in?
2) can i earn more by pursuing the CFP?
3) can i dedicate the time it would take to prepare and pass the exam along with the requirements to hold the designation.
If you can answer yes to all those it might be worth pursuing.
Can you have your own business and also work for someone?
In short...yes.
Is being CFP valuable in corporate finance?
What will you be doing?
@@DominiqueHendersonCFP budgeting and planning
@@Oulaqi Not for corporate budgeting and planning.
@@DominiqueHendersonCFP thanks, I was trying to find something closer and more specialized to budgeting other than CFA, do you have any recommendations?
@@Oulaqi schedule a consult so I can understand and help more
How old were you when you became a CFP?
40
@@DominiqueHendersonCFP thank you boss and i shall subscribe
what finance jobs are good for an introvert?
Search “CAREER PATHS FOR FINANCE MAJORS - What jobs can you get with a FINANCE DEGREE?” On my channel
Do you mentor?
+raymond medley yes and check this out: djh-capital.com/aspiring-financial-professionals/
@@DominiqueHendersonCFP Thank you ....
66k is not that good. I hope going through the process of earning your CFP cert should earn you more!
you've got to get more experience first.