Question for CFPs

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Maven
Posts: 45
Joined: Sat Dec 08, 2018 4:01 pm

Question for CFPs

Post by Maven » Sat Dec 08, 2018 4:09 pm

Has anyone here obtained their CFP designation WITHOUT an educational background in finance? I.E. Complete career change later in life? If so, curious to know the path you took to getting your experience in the field per the requirements as well as your thoughts on how challenging the coursework and exam was. Of course, I realize we are all different. Just trying to get some insight from those who went into it with just your own self-study as a building block. Thanks in advance!

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David Jay
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Location: Michigan

Re: Question for CFPs

Post by David Jay » Mon Dec 10, 2018 7:47 pm

Try using the forum search function (in the upper right, with the gray “Google”) for lots of results for “CFP”, here is just one that I think you will find interesting:

viewtopic.php?t=143738
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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David Jay
Posts: 6451
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Question for CFPs

Post by David Jay » Mon Dec 10, 2018 7:51 pm

Here is another good one: viewtopic.php?t=156743

It discusses the various qualifications: Series 7, Series 66 and CFP
Maven wrote:
Sat Dec 08, 2018 4:09 pm
Just trying to get some insight from those who went into it with just your own self-study as a building block.
One of the big impediments is that you must be sponsored by an existing financial services company.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

Topic Author
Maven
Posts: 45
Joined: Sat Dec 08, 2018 4:01 pm

Re: Question for CFPs

Post by Maven » Thu Dec 13, 2018 4:42 pm

Thank you, David Jay!

RedBarron
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Joined: Thu Dec 13, 2018 9:56 pm

Re: Question for CFPs

Post by RedBarron » Thu Dec 13, 2018 10:05 pm

I am a CFP and I work for a large wire house happy to answer some quesitons.

You do not have to be sponsered in-order to take the CFP. However you can have passed the CFP but not meet the work requirements to use the CFP marks in your title. Many college students take and pass the CFP although they cannot use the CFP marks next to their names after 2-3 years of work in the field.

So yes you can educate and take the CFP and pass. Which is a huge advantage if you want to get into the financial advising business. The CFP to be frank is a strange test and really I think any one can pass with enough studying. It's more of a tricky test and you have to get used to boards tricks.

My question is why do you want the CFP. Do you want to be an advisor? I would suggest going into the field with your eyes wide open and know when you are getting into before starting. It is not a field for everyone one. And most job's are heavy into selling "business development".

I recommend if you want to stay for the CFP look into Ken Zahn for the education courses. I used his courses and there is a wide background of people that take his course from teachers to attorneys. So yes you can do it.

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