Both of these certifications are common but CFP is the most common certification for a financial advisor. It is simply more tailored to helping individuals with financial planning. An advisor with either certification has gone through a rigorous program, which we outline in the next section. If you are considering one of these certifications to strengthen your resume, the kind of work you want to do should help you decide which to choose, especially if weighing the CPA vs.
CFP question. In order to gain certification, you will need to become a member of the association. There is an entry fee and there are also annual membership dues.
In addition, you need to have experience in public accounting. Individual states may have specific educational requirements. That sounds like a lot but many accounting programs will cover these requirements. The CPA exam is the same regardless of what state you are in.
The types of questions on the exam include multiple choice, real-life simulation and written communication. Those questions cover four sections:. After passing the exam, you will need to have experience in public accounting before you can get certification as a CPA. My Account Logout. Search Toggle Search Toggle. Search CFP Board. Search Toggle. Close Menu.
Financial Professionals Career Changers Students. Competitive Edge. Financial Planner Creates holistic financial plans to meet the unique financial goals of their clients. Client Services Advisor Prepares financial plans for review and implementation, participates in client meetings and works on follow-ups for clients.
Investment Manager Selects and manages investments on behalf of a firm and its clients. Wealth Management Advisor Develops one-on-one relationships with high-net-worth clients and helps to construct investment portfolios.
Portfolio Manager Manages client assets and portfolios in accordance with firm's guidelines, and contributes to research and analysis of investment opportunities and firm investment philosophy. Popular Courses.
Wealth Wealth Management. The fiduciary aspect of a CFP designation is extremely important. There are many requirements, including a 6-hour exam, for becoming a CFP.
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Related Articles. Partner Links. Financial Planner A financial planner is a type of financial advisor who helps clients meet their current money needs and long-term financial goals. What Is a Fiduciary? A fiduciary is a person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests. Investopedia is part of the Dotdash publishing family.
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