1. CFP® Information Session
Wiley’s CFP® Exam Review Provides a Robust Platform for Comprehensive Learning
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2. Agenda 1 2 3 CFP Program How to Prepare for Success Questions?
Overview of Requirements
Format of the CFP Exam
Benefits of CFP Designation
Pass Rates
Agenda 2
How to Prepare for Success 3
Questions?
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3. The CFP Exam: Industry Personal Financial Advisors
Percent change in employment, projected
Bureau of Labor Statistics
Average is 7% from ; however, for Personal Financial Advisors the average is 30%
Median pay is $89,160
The Financial Advice Industry is changing, as DOL is looking at fiduciary requirement vs. suitability requirements
Personal Financial Advisors
Business and Financial Operations Occupations
Total, All Occupations
Note: All Occupations includes all occupations in the U.S. Economy.
Source: U.S. Bureau of Labor Statistics, Employment Projections program
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4. The CFP Program
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5. The Four E’s of the CFP Program1
Education 2
Exam 3
Experience 4
Ethics
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6. Education Requirements
University bachelor’s degree or higher
Recognized accreditation by U.S. DOE
Can be completed after taking the exam (within five years)
Coursework through a program registered with CFP Board
Capstone course requirement
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7. The CFP Challenge Status
Financial Planning Principles
Insurance Planning
Investment Planning
Income Tax Planning
Retirement Planning
Estate Planning
Interpersonal Communications
Professional Conduct
CFA
CFP
CPA
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8. CFP Exam Two 3-hour testing sessions in one day
170 multiple choice questions
Stand-alone questions
Short scenarios
Lengthy cases
Computer-based exam at Prometric Testing Center
Three 8-day testing windows each year
March
July
November
Competency-based exam — not memorization!
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9. CFP Exam Dates
Exam Window
Registration Opens
Education Verification Deadline
Registration Deadline
March
November
February
July
June
October
efficientlearning.com/cfp/resources/exam-dates-and-schedule/
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10. Exam Topics Professional Conduct & Regulations Estate Planning
General Financial Planning Principles
Retirement Savings & Income Planning
Education Planning
Tax Planning
Risk Management & Insurance Planning
Investment Planning
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11. CFP Certification Exam: Historical Statistics
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12. CFP Experience: Option 1
3-Year Standard Pathway (6,000 Hours)
Part 1
Experience must fall within one or more of the six primary elements of the personal financial planning process
Part 2
Experience can be satisfied in one or more of five ways
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13. The Six Primary Elements of Personal Planning Process:
Establishing and defining the client relationship
Gathering data from the client
Analyzing and evaluating the client's financial status
Developing and presenting the financial planning recommendations
Implementing the financial planning recommendations
Monitoring the financial planning recommendations
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14. The Five Ways that Experience can be Satisfied:
Personal Delivery to individual client
Supervision of personal delivery to individual client
Support of personal delivery to individual client (direct, indirect)
Teaching
Internships and/or FPA Residency Program
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15. CFP Experience: Option 2
2-Year Apprenticeship Pathway (4,000 Hours)
Part 1
Apprenticeship activities must include ALL SIX primary elements of the personal financial planning process
Part 2
Apprenticeship experience can only be satisfied through personal delivery to individual clients
Apprenticeship experience must be completed under the supervision of a CFP
Part 3
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16. The CFP: Ethics Adhere to professional standards of conduct
Acknowledge CFP Board has the right to enforce standards
Complete 30 hours of continuing professional education bi-annually
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17. The CFP: Keys to Success
Work with the items outlined in the CFP program
Assist clients with all aspects of their financial life
Entrepreneurial, with interpersonal skills being important
Communication, empathy, relationship building
Work in various fields
Tax, estate planning, investment management, insurance, etc.
“Go-to" person when there are life changes (baby, death, school, retirement, vacation home, new car, etc.)
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18. How to Prepare for Success
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19. 3 Keys to Success 1 2 3 Be prepared Practice Exam day tips
Commit to 250 study hours
Create a structured study plan 2
Practice 3
Exam day tips
Use exam time wisely
Read questions thoroughly
Respond to stated questions
Relax
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20. Wiley’s Learning Methodology
PREPARE
STUDY
ASSESS
Personalize your own study schedule and keep your progress updated and synchronized, so you can always pick up right where you left off
Exam Planner & Personalized Study Schedule
Annotating
Diagnostic tools
A deep-dive review of all the concepts, formulas and topics for every topic on the CFP exam. With Wiley's minute Bite-Sized Lessons℠, you can fit your studies around your real-world schedule
50+ hours of video lectures
500+ practice questions
1,400 flashcards
Study guide
Reinforce your understanding and practice problem-solving skills to build speed and endurance for exam day with Wiley's Test Bank – our questions have been written to closely match those set by the CFP Board in the real exam
Full-length mock exams
500+ online Test Bank questions
Performance metrics
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21. Exam Planner
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22. Optimise Your Time with an Exam Plan by Day
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23. Bite-Sized Lessons Cover All 8 Topics
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24. Thousands of Practice Questions, Custom Quiz Builder
Apply Your Knowledge for Success
Thousands of Practice Questions, Custom Quiz Builder
Mock Exam with Questions Close to Those You Will See on Exam Day
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25. Metrics Help You Stay on Track to Pass
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26. Sign up for 24-hour FREE TRIAL at www.efficientlearning.com/cfp
Candidate Prep & Free Resources
Refer to the CFP Board
Sign up for 24-hour FREE TRIAL at
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27. Why Choose Wiley? The Best Content Bite-Sized Lessons Free Updates
Hundreds of questions, complete study guide and more!
Bite-Sized Lessons
Master an entire lesson in minutes
Free Updates
Free online access and updates until you pass!
Learn from the Best
Learn from a leading team of top instructors
Outcome- Focused
Stay on track with exam plan and powerful performance metrics
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28. efficientlearning.com/cfp info@efficientlearning.com
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