Professional designations help us serve you

Most people think that all financial planners are “certified,” but this isn’t true. Anyone can call himself or herself a “financial planner.” Only those who have fulfilled the certification and renewal requirements of the CFP Board can display the CFP^® certification marks.

Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP^® certification process that includes demanding education, examination, experience and ethical requirements. These standards are called “the four E’s,” and they are four important reasons why the financial planning practitioner you select should display the CFP^® certification marks.

When selecting a financial planner, you need to feel confident that the person you choose to help you plan for your future is competent and ethical. The CFP^® certification provides that sense of security by allowing only those who meet the following requirements the right to use the CFP^® certification marks.

CFP^® certification requirements: the four E’s.

Education: CFP^® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by the CFP Board. Other options for satisfying the education component include submitting a transcript review or previous financial planning-related coursework to the CFP Board for review and credit, or showing the attainment of certain professional designations or academic degrees.

Examination: CFP^® practitioners must pass a comprehensive two-day, six-hour CFP^® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.

Experience: CFP^® professionals must have three years’ minimum experience in the financial planning process prior to earning the right to use the CFP^® certification marks. As a result, CFP^® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics: As a final step to certification, CFP^® practitioners agree to abide by a strict code of professional conduct, known as the CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. The CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

How does the CFP Board’s Code of Ethics benefit me?

Through the Code of Ethics, CFP^® practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP^® practitioners are to act with integrity, offering you professional services that are objective and based on your needs. They are required to provide you with information about their sources of compensation and conflicts of interest in writing.

Ongoing certification requirements

Once certified, CFP^® practitioners are required to maintain technical competence and fulfill ethical obligations. Every two years, they must complete a minimum of 30 hours of continuing education to stay current with developments in the financial planning profession and better serve clients. Two of these hours are spent studying or discussing CFP Board’s Code of Ethics or Practice Standards. In addition to the biennial continuing education requirement, all CFP^® practitioners voluntarily disclose any public, civil, criminal or disciplinary actions that may have been taken against them during the previous two years as part of the renewal process.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP^®, Certified Financial Planner™, CFP^® (with plaque design) and CFP^® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

CIMA^® professionals have met extensive experience and ethical requirements, in addition to successfully completed advanced investment management consulting coursework through the Wharton School, the University of Pennsylvania and the University of Chicago Booth School of Business.

Applying state-of-the-art investment theory, CIMA^® professionals provide objective investment advice and guidance to individuals and institutions. They integrate a complex body of investment knowledge systematically and ethically to help clients make prudent investment decisions. Ongoing continuing education requirements must be met, and they must also adhere to the Investments & Wealth Institute^TM Code of Professional Responsibility and Standards of Practice.

But what does this designation mean for you? It means that when you work with an investment consultant who has taken the time to become CIMA^® certified, you’re working with someone who understands the financial complexities and risks that come with being in the highest tax bracket, is well-versed in modern concepts of investment advice and, perhaps most important, is educated enough to understand how your individual investments are being managed and how they work together – no matter how complex your situation may be.

Investments & Wealth Institute™ (The Institute) is the owner of the certification marks “CIMA” and “Certified Investment Management Analyst.” Use of CIMA and/or Certified Investment Management Analyst signifies that the user has successfully completed The Institute’s initial and ongoing credentialing requirements for investment management professionals.

A Chartered Financial Consultant^® has completed nine or more college-level courses on all aspects of advanced financial planning from The American College, a nonprofit educator with the highest level of academic accreditation. Each ChFC^® must also complete a minimum of 30 hours of continuing education every two years, adhere to strict ethical standards, and meet extensive experience requirements to ensure that you get the professional financial advice you need.

Here are a few of the many areas where a ChFC^® can assist you:

• Creating a comprehensive financial approach
• Protecting your assets and managing risk with appropriate levels of insurance
• Managing taxes better for you and your business
• Helping you secure your retirement
• Building an investment approach to help you reach your goals
• Enhancing the value of your estate to take care of your loved ones

The Certified Private Wealth Advisor^® (CPWA^®) certification program is an advanced credential created specifically for wealth managers working with high-net-worth clients, focusing on the life cycle of wealth: accumulation, preservation and distribution. Candidates who earn the certification understand how to develop specific strategies to minimize taxes, monetize and protect assets, maximize growth, and transfer wealth. Areas of specialized knowledge include applied behavioral finance, family dynamics, risk management, estate planning and portfolio management.

Investments & Wealth Institute™ (The Institute) is the owner of the certification marks “CPWA” and “Certified Private Wealth Advisor.” Use of CPWA and/or Certified Private Wealth Advisor signifies that the user has successfully completed The Institute’s initial and ongoing credentialing requirements for investment management professionals.

A Chartered Retirement Plans Specialist^® is a professional financial planning designation awarded by the College for Financial Planning to those who create, implement and maintain retirement plans for businesses. Unlike most other professional financial planning and advisory professional designations, the CRPS^® focuses on wholesale and business clients. Every two years, CRPS^® professionals must complete 16 hours of continuing education.

Individuals who hold the AAMS^® designation have completed a course of study encompassing investments, insurance, tax, retirement and estate planning issues. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations.

All designees have agreed to adhere to standards of professional conduct and are subject to a disciplinary process.

Designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the standards of professional conduct and complying with self-disclosure requirements.

AAMS^® and Accredited Asset Management Specialist^SM are registered service marks of the College for Financial Planning.

Getting your affairs in order during a divorce is made easier with the help of a Certified Divorce Financial Analyst^® (CDFA^™). This certification emphasizes the analyst’s ability to aid you in financial decisions and work with you and your attorney toward a settlement that fully addresses your long-term needs. By utilizing proprietary software and specialized knowledge, CDFA^® professionals can help determine the short- and long-term financial impact of a settlement. They are able to create, analyze and forecast various scenarios to outline a fair settlement that will help protect your interests and potentially keep costs low and reduce the time it takes to work through a divorce.

Why should you work with a Certified Divorce Financial Analyst^®? When working with a CDFA^® professional, it means you are working with an advisor who understands the financial complexities you will experience during a divorce and will empower you to make educated decisions through the process which, in turn, can help save you time and money down the road. They can not only help you with decisions that need to be made for the short term, but also help forecast the long-term effects of the divorce settlement, including details of tax liabilities and benefits. Don’t forget, CDFA^® professionals are financial advisors too. With the training, knowledge and experience as a financial advisor, they can help you make the most of the divorce settlement by reassessing your investments and financial plan to ensure it’s aligned with your short- and long-term goals.

An Accredited Investment Fiduciary^® has expertise in investment fiduciary standards of care. They have extensive knowledge in key areas such as plan distributions, plan design and implementation, plan establishment and operation, and fiduciary issues.

Accredited Investment Fiduciary^® designees can demonstrate that they have met educational, competence, conduct and ethical standards to serve the best interests of their clients and carry out a fiduciary standard of care throughout the financial planning engagement.

The Wealth Management Specialist Certificate Program is a curriculum that includes the wealth management process, time value of money principles, measurement of risk and return, asset allocation process, investment strategies, investment taxation, insurance products in wealth management, business ownership and planning, retirement planning considerations and estate planning considerations. Certificants also sign a code of ethics declaration.