Congratulations to Hoan Taussig on successfully completing the rigorous requirements of becoming a CERTIFIED FINANCIAL PLANNER™ professional. Hoan has been an integral part of the Timothy Financial team for several years but we look forward to her taking on a bigger role in serving our clients.
What does the CFP® designation really mean? Many people don’t realize that anyone can call themselves a “financial planner” but only those who fulfill all the requirements of the CFP Board are certified. The rigorous requirements can help consumers differentiate between the competency of financial advisors.
To earn the CERTIFIED FINANCIAL PLANNER™ designation, candidates must complete what the Board of Standards refers to as the “4 E’s”:
- Education
- Examination
- Experience
- Ethics
In addition to earning a bachelor’s degree, completing a comprehensive board certified education program, passing the 10-hour exam, and adhering to a strict code of ethics, candidates must also have completed three years of relevant work experience in the financial planning industry and pass a background check. In addition, thirty hours of continuing education every two years is also required in order to maintain an active CFP® license. Only about half of all applicants pass the exam, let alone all the other requirements.