CFP Designation
The Certified Financial Planner credential, a professional standard for personal financial planning covering retirement, taxes, insurance, and estate planning.
What is CFP?
The Certified Financial Planner (CFP) designation is a professional credential awarded by the CFP Board to financial planners who meet education, examination, experience, and ethics requirements. CFP professionals must complete coursework in financial planning (retirement, investments, tax planning, insurance, and estate planning), pass a comprehensive 170-question exam, have 6,000 hours of professional experience, and adhere to a fiduciary standard requiring them to act in clients' best interests. The CFP designation is the most recognized credential for personal financial planning in the United States, distinguishing planners who work on comprehensive financial plans from those who only sell products.
Example
A CFP professional working with a 45-year-old couple creates a comprehensive financial plan addressing: retirement savings projections (are they on track?), tax optimization strategies (Roth conversions, tax-loss harvesting), insurance coverage gaps, college funding for two children, and estate plan review. The CFP's fiduciary duty requires recommending what is best for the clients rather than what generates the highest commission.
Source: CFP Board — CFP Certification