The demand for certified financial planners is on the rise and should only continue to increase. As people switch jobs and gain multiple retirement accounts, as baby boomers retire and reallocate their assets, and as young families struggle with student debt and mortgages, they will want the expertise of someone who knows their way around finances.
According to the CFP® Board, people recognize the need for professional advice when it comes to managing their money and they feel more confident in that advice when it comes from a certified finance professional.* Becoming a CFP® designates someone as an expert who is worthy of trust, but to become one, you much first pass the challenging CFP® certification exam.
Investopedia offers seven bits of advice on how to pass the 7-hour test:†
Tips for passing the CFP® exam
- Don't just memorize concepts. The CFP® certification exam requires students to apply their knowledge.
- Understand how the CFP® Board determines an answer to be “correct.”
- Get the best grade you can because there is no set pass/fail line.
- Answer every question because it improves your odds.
- Know taxes because that is the most difficult section.
- Take a review course, particularly if you’ve been taking the courses for years.
- Spend some more time preparing for it. No one regrets over-preparing for the exam.
Walden University can help you prepare for the CFP® certification exam. Earn an MS in Finance with a certified professional planner emphasis and get real help and experience relevant to the exam. You will be able to explore a variety of types of financial planning as well as take a simulated CFP® certification exam.
*CFP® Board, “Five Things You Probably Didn’t Know About the Financial Planning Profession,” on the internet at www.CFP.net/become-a-CFP-professional/a-career-in-demand/five-things-you-probably-didn-t-know-about-the-financial-planning-profession.
†Cussen, M. P., “Studying for the CFP® Exam,” on the internet at www.investopedia.com/articles/professionaleducation/07/CFP_exam.asp.