If you’re thinking about becoming a Certified Financial Planner (CFP), the good news is it comes with some fantastic career prospects. The CFP certification is like the gold standard as a financial planning course and is recognised worldwide. It signals to clients and employers that you know your stuff and are committed to putting your clients’ interests first. Here’s the lowdown on what you need to do to get this sought-after status.
What Is CFP Certification?
For over 30 years, the CFP certification has been a benchmark for excellence in financial planning. CFP professionals have undergone extensive training and have significant experience under their belts. They also adhere to strict ethical standards, which means when you see those letters after someone’s name, you know they’re serious about helping their clients.
Why Get CFP Certified?
Why should you aim for this certification? Simple. It sets you apart from other financial planners. Clients and employers recognize the CFP certification as a mark of quality and trustworthiness. With new education standards coming into effect, all financial planners in Australia will be required to hold an approved degree by 2026. So, getting your CFP will give you a head start if you don’t already have it.
The Path to Certification
Here’s what you need to know about the process:
- Education: If you already have an approved financial planning degree, great! You can jump straight into the certification unit. If not, don’t worry. You’ll need to complete some additional units to cover the necessary knowledge areas.
- The Program: The CFP Certification Program is your next step. This program covers everything from technical knowledge to practical applications. The good news is, the Financial Advice Association Australia (FAAA) has made this program available online, so you can study at your own pace and convenience.
- Experience: Alongside the educational requirements, you’ll need to gather some real-world experience. This hands-on experience is crucial because it helps you apply what you’ve learned in a practical setting.
- Ethics: CFP professionals are held to high ethical standards. This means committing to a code of ethics and practicing with integrity.
- Ongoing Education: Once you’ve got your CFP designation, the learning doesn’t stop. You’ll need to keep up with continuing education to maintain your certification and stay on top of industry changes.
Special Pathways
If you’re already a certified financial planner from another country and want to practice in Australia, there are pathways to recognize your existing qualifications. Just check in with the FAAA for specific details.
Partnerships and Further Education
The FAAA has teamed up with some educational providers to offer a Masters of Financial Planning that integrates with the CFP Program. This is a great option if you’re looking to combine advanced learning with your CFP studies.
Remember, if you’ve got any questions or need more info, the FAAA is there to help. They can provide guidance on everything from program structure to enrolment forms. Happy studying.
