Best, easiest way, to get your CFP

344
An associate of mine, in the business for 25 years, very sharp, finally wants to get his CFP. He was thinking about starting with CLU and ChFC, but decided to go for his CFP first. He asked me the easiest way to get it? Self-study? If so, with who? Online training? OK, who? Any experience, insight, and perspective would be greatly appreciated. Thank you in advance.
 
My wife got it years ago just doing self study and then taking the test. You have to work for two years under another CFP if I remember correctly. Which she already did.
She complains about the fees every year. Doesn’t really use any of her credentials. She took them off her business cards years ago. She has the CLU, ChFC, CFP, MBA, CPA but all she puts on her card is Insurance Agent.
The funny part is she still hits me with a million questions a day. And I barely graduated high school.
Those credentials will impress some people. But all they really mean in the real world is that you are a good test taker.
 
An associate of mine, in the business for 25 years, very sharp, finally wants to get his CFP. He was thinking about starting with CLU and ChFC, but decided to go for his CFP first. He asked me the easiest way to get it? Self-study? If so, with who? Online training? OK, who? Any experience, insight, and perspective would be greatly appreciated. Thank you in advance.
I took the classes through American College self-study and then took the exam using Dalton prep self study.

I don't see any reason to attend live classes (in person or online) if you're committed to studying the material.
 
https://www.cfp.net/get-certified/certification-process

First, does your associate have a bachelor's degree? That's been a requirement since 2007.

Then there's the CFP educational requirements. Those courses or modules are required unless they have a designation eligible to challenge the exam. Such designations or degrees are: CPA, CFA, CLU, ChFC, licensed attorney (including inactive license), PhD in a related field, or International CFP marks.

https://www.cfp.net/why-cfp-certification/why-get-certified/for-financial-professionals

Experience is pretty easy and doesn't need to be under the supervision of another CFP. All insurance sales qualifies for work experience.

I believe the simpler (and overall less expensive way to go) is to start by getting the ChFC. It's 9 courses (just 1 more than The American College's CFP program). Since you don't have to pay for all the modules at once, you can just enroll in one course at a time. This is also great when working at a firm with educational reimbursement benefits.

It's generally recommended to take a CFP exam live review course. I have no opinions on any particular one since I've never done it.
Those credentials will impress some people. But all they really mean in the real world is that you are a good test taker.

The more up-market you go, the more the letters (more importantly the actual education) will help.
 
My wife got it years ago just doing self study and then taking the test. You have to work for two years under another CFP if I remember correctly. Which she already did.
She complains about the fees every year. Doesn’t really use any of her credentials. She took them off her business cards years ago. She has the CLU, ChFC, CFP, MBA, CPA but all she puts on her card is Insurance Agent.
The funny part is she still hits me with a million questions a day. And I barely graduated high school.
Those credentials will impress some people. But all they really mean in the real world is that you are a good test taker.

Thanks. I get it. I am not looking to debate with him whether it's worth it, or not for that matter, LOL.

He is simply looking to get his CFP, CLU, and ChFC -- and wanted to know what order would be best, easiest, and specifically how he should go about doing it. Thanks again.
 
I took the classes through American College self-study and then took the exam using Dalton prep self study.

I don't see any reason to attend live classes (in person or online) if you're committed to studying the material.

Got it...thanks. So did you do the CFP first? Any others before? After?

OK, so self-study through the AC, and then Dalton prep self-study for exam prep...Thanks!
 
https://www.cfp.net/get-certified/certification-process

First, does your associate have a bachelor's degree? That's been a requirement since 2007.

Then there's the CFP educational requirements. Those courses or modules are required unless they have a designation eligible to challenge the exam. Such designations or degrees are: CPA, CFA, CLU, ChFC, licensed attorney (including inactive license), PhD in a related field, or International CFP marks.

https://www.cfp.net/why-cfp-certification/why-get-certified/for-financial-professionals

Experience is pretty easy and doesn't need to be under the supervision of another CFP. All insurance sales qualifies for work experience.

I believe the simpler (and overall less expensive way to go) is to start by getting the ChFC. It's 9 courses (just 1 more than The American College's CFP program). Since you don't have to pay for all the modules at once, you can just enroll in one course at a time. This is also great when working at a firm with educational reimbursement benefits.

It's generally recommended to take a CFP exam live review course. I have no opinions on any particular one since I've never done it.


The more up-market you go, the more the letters (more importantly the actual education) will help.

Yes, he has his BS, two of them. I think he has an MBA as well. He was hoping to get some "credit" for 25 years plus in the industry and for some of the other education, course-work, etc., that he's done, but it doesn't sound like that's going to happen.

As far as the CFP educational requirements and those courses -- no, he has no other designations or licenses that would make him "eligible to challenge the exam." (which I guess means he would get a waiver of some sort). He is not concerned about the "experience" requirements and working under the supervision of another CFP. He's got that covered.

That said, what he's really looking for is the advice you gave -- you think it's "simpler" (and I am saying "easier") for him to get the ChFC first, right? Nice courses and if he passes them all -- he's got his ChFC. Now, once he has that -- can't he take another course or two, maybe three, and then he gets his CLU?

And lastly, how many of the nine in getting his ChFC -- how many of those nice count toward the CFP requirement?

Thank you very much in advance Tahoe Ray! If you ever make it to today's version of the old AALU National Meeting, or the Forum 400 National Symposium -- let me know -- reach out for me, and the drinks are on me! Thanks again.
 
That said, what he's really looking for is the advice you gave -- you think it's "simpler" (and I am saying "easier") for him to get the ChFC first, right? Nice courses and if he passes them all -- he's got his ChFC. Now, once he has that -- can't he take another course or two, maybe three, and then he gets his CLU?

And lastly, how many of the nine in getting his ChFC -- how many of those nice count toward the CFP requirement?

Here you go:

https://www.theamericancollege.edu/sites/default/files/2023-05/cfp-chfc-clu-comparisongrid.pdf

CFP ChFC CLU.png
 

Latest posts

Back
Top