Rainmakr
New Member
- 13
Not to mention the college education requirement, the on the job experience requirement and last, but definitely not least, the BRUTAL exam to be a Certified Public Accountant.
I'll also point out that up until a few years ago, a college degree was not required to get a CFP. Now they require a college degree (in anything) along with the same requirements as prior.
Just a side note, sans the college degree, the ChFC requires more classes than the CFP. The only difference is the exam to get the CFP. As has been pointed out, the CFP has done a great job of marketing. I was in a meeting of a bunch of advisers one day and a person fairly new to the business (less than 5 years) who was captive with a 403b company asked the following question:
"How do you determine an appropriate portfolio for a person and also decide which investments to use?"
I nearly shat myself when someone told me the guy was a CFP and had already been making recommendations to people in their 403b accounts for the previous few years.
That's correct. Plus, you have to have at least 150 credit hrs to sit for the exam which a lot of CPA's that are sitting are already in the process of either getting a dual BA or pursing a Master/MBA.