The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”).

The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with Clients. Currently, more than 85,000 individuals have obtained CFP® certification in the United States.=

To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:

• Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, or attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;
• Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 6 hours over a one-day period, includes case studies and Client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;
• Experience – Complete at least three years of full-time financial planning- related experience (or the equivalent, measured as 2,000 hours per year); and
• Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.

Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:

• Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and
• Ethics – Renew an agreement to be bound by the Standards of Professional Conduct.

The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their Clients.

CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.

The Accredited Investment Fiduciary (AIF®) designation is issued by the Fi360, Inc. and the Center for Fiduciary Studies, a division of Fi360.

In order to attain the AIF® designation, an individual must complete the AIF training requirements (an online training component that generally takes about 8 to 10 hours to complete); pass the AIF® exam; meet the AIF experience requirements; attest adherence to the AIF Code of Ethics; attest adherence to the AIF Conduct Standards; submit application; and pay required dues. It is estimated that it takes on average about 22 hours for an individual to complete the AIF training requirement and pass the AIF exam. In order to meet the AIF experience requirements, individuals must have either (1) minimum of two years of relevant experience, a bachelor’s degree, and a professional credential; (2) minimum of five years of relevant experience, a bachelor’s degree or a professional credential; or (3) minimum of two years of relevant experience. For purposes of AIF designation attainment, “relevant experience” is experience “which has been accrued in a non-clerical role within the financial services (or a related) industry.” Annually, AIF designation holders must complete 6 hours of qualifying continuing education, attest adhere to both the AIF Code of Ethics and the AIF Conduct Standards and pay required dues.

For more information on the AIF designation process, the AIF Code of Ethics and the AIF Conduct Standards, visit: https://fi360.zendesk.com/hc/en-us/articles/360012759194-What-it-Means-to-be-an-AIF-Designee