CFP Board Changes CFP Exam Requirements
The CFP Board has approved two changes to the process of attaining the initial CFP designation.
First, candidates who want to take the CFP exams no longer will have to take a “capstone” CFP course. Instead, they will be able to submit a comprehensive financial plan to a CFP professional for review, who will decide if they have the eligibility to sit for the exam.
The second change expands the definition of “experience” for candidates who want to take the CFP exam. The definition now will include such things as being responsible for employee benefits administration or financial compliance at a firm or having experience in journalism on financial planning topics. The qualifications will be judged on a case-by-case basis to fulfill the requirement for three years of experience.
In summary, changes reflect the quality of experience which many aspiring CFP professionals have in the industry, while retaining the high standards of the CFP certification.
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