| |
National Association of Personal Financial Advisors (NAPFA) |
Certified Financial Planner |
CPA w/ Personal Financial Specialist |
Chartered Financial Consultant |
| Compensation |
Fee-Only all of the time |
Fees and/or commissions |
Fees and/or commissions
(with disclosure) |
Fees and/or commissions |
| Education Required for Admission |
Three credits of advanced education in each of the following: income taxes, investments, estate planning, retirement planning and risk management |
10-hour, two day comprehensive exam
covering more than 100 financial
planning topics |
CPA with at least 100 points earned
under the multiple entry point system,
which includes passing a financial
planning exam |
Complete eight financial planning courses |
| Experience Required for Admission |
Minimum 36 months engaged primarily in the provision of comprehensive financial planning services within the last 60 months, and including the most recent 12 months |
With a bachelor's degree, three years working in the financial planning field. If no bachelor's degree, then
five years working in the financial planning field |
Minimum of 25 points in PFP experience
within the five-year preceding
application |
Three years business experience. A bachelor's or graduate degree
may qualify for one year |
| Peer Review Requirements |
Peer review of a sample comprehensive
financial plan |
None stated |
If requested, submit references of
financial planning experience |
None stated |
| Continuing Education Required |
60 hours every two years. Includes at least five hours in each of six areas of financial planning. Each hour documented and records subject to audit |
30 hours every two years. Includes at least two hours in ethics. Each hour
documented and records subject to audit |
60 points in personal financial planning,
business experience and lifelong learning every 3 years |
30 hours every two years |
