Whether you are looking for a new financial advisor or you are trying to determine the value of your current one, there are certain designations you should be aware of. These include the following: A CPA, a CFP, and a Chartered investment counselor.
Each of these is considered to be one of the most prestigious and widely-recognized designations in the field of finance.
There are many types of financial advisor designations and deciding which is right for you is crucial. However, one of the most popular is the CFP designation.
To become a CFP you’ll need to show your skills as an advisor. This can be done by completing a prescribed course. You’ll also need to prove you have three years of experience in the field. Then, you’ll need to pass a computerized, six-hour exam. If you’re successful on the first try, you can get your CFP certification in less than a year.
The CFP Board, which administers the CFP test, posts a list of current licensees on its website. In addition, it publishes information about the financial planning process.
While CFP is not a magic bullet, it does have an impressive record of being a leading financial advisor designation. And, in fact, it’s arguably the “gold standard” for credibility in the industry.
For those looking to take the next step, you can also pursue the Chartered Financial Consultant (ChFC) designation. This is a professional certification from the American College. Its curriculum includes all the core material from the …The Best Financial Advisor Designations Read More