How important is it to get a CFP if I plan on working in wealth management as a career? I am currently on a team working under a wealth advisor and am fully licensed. I want to take my education to the next step but am really struggling for motivation to study for and take a big test. I basically tell myself I'm going to do it but never put my money where my mouth is. So yes I want to do it, but I also want to know that it is worth it so I can commit easier.
Thanks for any advice!
| +38 | Strategy to asset allocation | 10 | 2w |
| +28 | Q&A | Research Associate, Long-Only | (0 years in DCM/IB/consulting) | 6 | 5d |
| +15 | Working for Endowment? | 10 | 2d |
| +14 | Early career insurance AM - should I just thug it out? | 3 | 2d |
| +9 | WAMCO - Ken Leech | 2 | 3w |
| +8 | Bridgepoint Acq Kayne Anderson RE | 2 | 1w |
| +6 | Family office - analyst role test | 3 | 3w |
| +6 | MBB to Banking Career | 1 | 1w |
| +6 | Goldman Sachs Operations? | 1 | 1w |
| +4 | CPP Early Investor Program (Summer 2027) Check | 3 | 1w |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
What do you do now? Where do you want to go in WM? Do you want to be a FA yourself or do something else?
I assist the wealth advisor for a smaller bank in managing her book. It is not strictly HNW clients and we manage about $500MM. I would like my own practice down the road for HNW clients or move to a larger bank (MS, JPM etc.).
If you want to be a FA, then it is very important. The 7 and 63 are minimum competency exams. The CFP shows that you actually know how to plan for somebody. It's also not that hard for somebody with planning experience. I had 5+ years of full time planning experience under my belt when I took it, and was done with the test before lunch. It is a lot of material, however. Expect to put in a couple hours a week for a year in order to complete it if you need to learn the materials.
I agree the CFP is a nice addition to your name and title. It’s a nice to have but is not the most important thing. Prospecting and filling your pipeline always trumps all.
CFP - can’t fucking produce.
Don’t get caught up spinning your wheels on letters when you should be prospecting.
Placeat quis delectus fugit. Vel repellat dolores aut rem rem et sunt. Suscipit ut praesentium distinctio harum dignissimos rerum nemo eaque.
Et eaque architecto eum earum fuga. Id reiciendis eos sunt nulla laudantium laudantium placeat. Corporis recusandae molestias voluptate quis iure fugiat.
Perspiciatis qui voluptatem deleniti earum labore. Id sequi praesentium hic autem tenetur non ex.
Numquam est beatae sit quas. Iure et facere vel fugit. Voluptatum qui corporis nesciunt fuga. Enim iure explicabo labore id qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...