How to Become a CFP professional? What is a Certified Financial Planner?
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- เผยแพร่เมื่อ 29 เม.ย. 2019
- What is the difference between a CFP® Professional or CERTIFIED FINANCIAL PLANNER™ and a Financial Advisor, Broker, Insurance Agent, Registered Representative, Financial Planner or Financial Consultant?
In this video, we'll be talking about what a CERTIFIED FINANCIAL PLANNER™ Professional is. We'll also be discussing the difference between a financial advisor and a CERTIFIED FINANCIAL PLANNER™. Finally, we'll give you a few tips on how to become a CERTIFIED FINANCIAL PLANNER™.
If you're looking for information about becoming a CERTIFIED FINANCIAL PLANNER™ this video is for you! Colin Exelby, CFP® discusses what it is and what qualifications are required to become one. We'll also discuss the importance of a financial plan and what benefits you can expect from having one. If you're curious about what a financial planner does or wants to learn more about the difference between a financial advisor and a CERTIFIED FINANCIAL PLANNER™, then this video is for you.
I am a Certified Financial Planner Professional™ or CFP®. See the Forest Through the Trees is a personal finance, health, and wellness blog and TH-cam Channel that aims to help you see the bigger picture. My goal is to help you think outside the box about your life, your money and your health to be the best you can possibly be.
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This video was super informative. Thank you so much!!
Excellent video, keep up the good work!
Great presentation! About how long does it take to reach that goal?
Id love to become one, but holy heck is it a lot of red tape... I can't even figure out where to start. The colleges make it way to complicated to find a starting point.
Great intro on CFP
Thanks for watching!
I have a bachelor’s degree in nursing from 1996. Will my BSN count?
What duty differences do you have compared to a normal financial advisor?do they still remain working and having the same designated areas under the same organisation as a normal financial advisor? Or do they get different jobs in the industry as a higher rank?
Often, added designations like this one enhance your knowledge and marketability. The designation is often a requirement for certain positions but not always.
I've always been interested in personal finance, and after a few (successful) decades in high tech and now semi-retirement in my early 50s, am considering embarking on CFP as a second career. Given the work requirement, is it too late in life? Where would one start for entry level experience?
It's never too late, and your life experience I am sure gives a different perspective. And the educational requirements will give you great knowledge about personal finance no matter what you do. IMO One of the best ways to get the experience requirement is to apply for jobs with RIAs that are looking for paraplanners. Good luck!
What will be considered a relevant work experience? I got my LLQP license and work as a financial advisor in an insurance brokerage company for over 3 years. Does that count? Thanks!
Great question. Here is a great resource to determine what relevant experience is. www.cfp.net/get-certified/certification-process/experience-requirement
Where I find free study material?
@3:37 "you must have a bachelors degree from an accredited university". What field of study must your bachelors degree be in?
To my knowledge the degree can be any field of study.
Could you make a video on CFP salary
Hey @tommy oshana, thanks for watching. CFP salary varies quite widely depending upon experience and the type of responsibiilty you have.
Is it ok if you already have the bachelors degree and go for the CFP after? I graduated last year with my bachelor’s in Finance and I want to become a financial planner.
Yes, that is completely fine. That's how I attained it.
Looks like a designation intended for people to start young base on the hours of education (bachelors degree) and work experience required. 😢
Yes, but not always. If you already have five years of experience in a related field you satisfy that requirement. Then you just need to pass the exams.
Were you doing sales as part of your work? I understand that sales is a big part of being a CFP, is that true?
Asad- The answer is it depends. Some planners just do planning and don't sell one bit. That is often an entry level planning position at a larger firm. I firmly believe that learning how demonstrate and "sell" the value you provide your potential client is an extremely important skill to learn and hone if you want to build your personal brand.
@@seetheforestthroughthetrees why do we have to sell?
In order to build a client list, a planner must be able to sell their expertise to potential clients.
Cfa or cfp whats better?
@open world, it all depends. Like everything in finance, those two designations are wildly different. The CFA would be more important for purely investment management. The CFP would be more important for holistic financial planning. I would say that it appears FInTech is targeting portfolio construction, which may make the CFA less attractive in the future.
@@seetheforestthroughthetrees thank you for your response
cfa is way better. Financial Analyst do beyond portfolio construction. They help with mergers & acquisitions, help raise funds, underwrite shares, sell assets, help determine the most optimum way to invest. CFA lets you become an investment banker, asset manager, hedge fund manager, management accountant & wealth manager
CFP helps you become a financial planner, financial advisor & wealth manager.
CFA is harder to pass & are generally paid better
Personally, I’d rather have a financial planner who has made millions of dollars for himself through investments and business. That’s credibility no amount of schooling, studying or testing can ever match.
Interesting, and generally I agree with you. There is no substitute for life experience. For example CFP's like myself who own a business, and started it from scratch, understand business owners better than CFPs who are W2 employees at a bank. That's just my opinion, but until you walk in the shoes over a business owner, it's tough to understand. So I agree on that front.
But, often, newer CFP's learn by working in a team approach with other successful CFPs and may not have the investments or businesses yet. That doesn't mean they should give up. That means they should keep doing and keep learning.
And, just because someone has a successful business or is a successful investor, it doesn't mean they have the skills to teach or educate others on best practices. They also could have just gotten lucky. You remember Dogecoin Millionaire? Would you follow his advice because he was a "successful" investor in Crypto? (For about 9 months).
What do you think?
@@seetheforestthroughthetreesa very professional response. 🙂
Appreciate it! Cheers!
Cruundwp😊p