CERTIFIED FINANCIAL PLANNER™ Professional
What It Is: The CFP® designation is a formal recognition of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement, certified by the CFP® Board of Standards, Inc.
What it Means: The CFP® designation is widely considered the standard of excellence for financial planners. CFP® professionals have met extensive training and experience requirements and commit to CFP® Board’s code of ethics and fiduciary standards to always put their clients' interests first. Read the code of ethics here.
What it Requires: The CFP® designation is one of the toughest to earn in this industry. It typically requires more than 6,000 hours of experience and 250 hours of study, and on average takes 12-18 months to complete. Only 29% of financial advisors are CFP® professionals.
ChFC® - Chartered Financial Consultant
What It Is: ChFC® is a comprehensive and distinguished financial planning certification from the American College of Financial Services.
What it Means: The ChFC® certifications verify a financial professional's knowledge, expertise, and commitment to upholding the highest ethical standards. The ChFC® program provides financial services professionals with in-depth knowledge of the skills needed to perform comprehensive financial planning for their clients.
What it Requires: Candidates must pass a total of eight courses covering all facets of financial planning, including financial planning, investing, retirement planning and insurance planning.
CLU® - Certified Life Underwriter
What It Is: The CLU® designation is a formal recognition of expertise in and extensive applied knowledge of life insurance and estate planning.
What it Means: The CLU® designation is widely considered to be the most respected insurance designation in the industry. A CLU® advisor has in-depth knowledge of life insurance underwriting concepts and law within the context of overall risk management. It also provides the necessary knowledge to help address clients’ estate planning needs and the life insurance underwriting needs of business owners and professionals.
What it Requires: Earning this designation typically requires3 years of experience, 400 hours of study, and can take 15-24 months to complete.