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CFP: THE MOST IMPORTANT THREE LETTERS IN FINANCIAL PLANNING There are financial advisers and financial advisers. If you expect a professional level of service with your finances and investments, you should choose a financial planner with the internationally recognised Certified Financial Planner designation. PREPARING for an uncertain future has never been so important. Financial wellness is the cornerstone of a healthy society and should be the goal of every individual. But achieving financial wellness is easier said than done. There are thousands of financial products on the market, and it seems that everybody has an opinion about what you should do with your savings. This is why the Certified Financial Planner (CFP) professional designation is so valuable. It is awarded by the Financial Planning Institute of Southern Africa (FPI), a recognised professional body for financial planners, and it indicates that a financial planner has the necessary skills, knowledge and competencies
to give advice impartially, professionally and ethically. “The CFP designation is internationally recognised as the standard for financial planning professionals,” says FPI chief executive Lelané Bezuidenhout. “It gives consumers confidence that the financial planner they’re dealing with is suitably qualified and gives assurance that they remain up to date with developments in the industry.”
CFP professional by obtaining a Postgraduate Degree or Diploma in Financial Planning from an accredited institution. An advanced degree or designation in economics, taxation, law or finance, in addition to a more onerous experience requirement, can serve as an alternative to gain entry to the professional examination through the Challenge Examination process.
THE FOUR Es OF BEING A CFP professional. To qualify as a CFP professional – and to retain that status – financial planners must meet the four Es of the profession:
2. Examination The Professional Competency Examination (PCE) is a rigorous competency test administered by FPI. A financial planner can only qualify to apply for the CFP designation if they pass the PCE.
1. Education Candidates can start the journey towards becoming a
3. Experience Before they write the PCE, the
