how to become a certified financial planner cfp 
earning the cfp designation involves meeting requirements in four areas formal education performance on the cfp exam relevant work experience and demonstrated professional ethics the education requirements comprise two major components the candidate must hold a bachelor s or higher degree from an accredited university or college second the candidate must complete a list of specific courses in financial planning as specified by the cfp board 3much of this second requirement is typically waived if the candidate holds certain accepted financial designations such as a chartered financial analyst cfa or certified public accountant cpa designation or has a higher degree in business such as a master of business administration mba 3as for professional experience candidates must prove they have at least three years or 6 000 hours of full time professional experience in the industry or two years 4 000 hours in an apprenticeship role 4lastly candidates and cfp holders must adhere to the cfp board s standards of professional conduct they must also regularly disclose information about any involvement in criminal activity inquiries by government agencies bankruptcies customer complaints or terminations by employers the cfp board conducts an extensive background check on all candidates before granting the certification 5even successful completion of the above steps doesn t guarantee receipt of the cfp designation the cfp board has final discretion on whether to award the designation to an individual 6the certified financial planner cfp examthe cfp exam includes 170 multiple choice on more than 100 topics related to financial planning the scope includes professional conduct and regulations financial planning principles education planning risk management insurance investments tax planning retirement planning and estate planning 7the various topic areas are weighted and the most recent weighting is available on the cfp board website further questions test the candidate s expertise in establishing client planner relationships and gathering relevant information and their ability to analyze develop communicate implement and monitor the recommendations they make to their clients 7here s some additional information on the administration costs and scoring of the cfp exam cfp vs cfathough a certified financial planner cfp and a chartered financial analyst cfa may sound similar they are different certifications with different job functions and clients a cfp works with individuals often retail clients helping them achieve their financial goals this includes help in investing and retirement planning a cfa works with corporations performing investment analysis cfas focus on financial reporting analysis and portfolio management they can trade financial products such as derivatives and help in mergers and acquisitions cfa s usually work for investment banks and hedge funds 