So what is the difference between a certified financial planner and any normal financial planner? There is indeed a big difference. It’s easy for anyone to claim that he/she is a financial planner but not everyone can claim to be a certified financial planner unless they are certified from the Certified Planner Board of Standards.
As far as educational qualifications go, you need to have a basic college degree in order to become a certified financial planner. The tough call is that you need to master integrated financial planning which includes 100 topics under it. So beware; it will not be a cake walk. The exam you have to pass, to become a certified financial planner might not be all that easy either. It has 10 hours worth of multiple choice questions. The case problems in the exam will test on your ability and talent to use your knowledge in a situation that calls for use of financial planning. So to get through the exam and become a certified financial planner you should have both the necessary academic knowledge and also practical skills.
A good certified financial planner must have the ability to understand the needs of the client, should be able to come up with creative solutions and must have the foresight needed in order to ensure that the needs of the client are fulfilled. A certified financial planner in short should be a real expert on the subject of finance in general.
These times are tough times for any certified financial planner as the recession is hitting so hard in unpredictable ways. Therefore, you may want to re-think pursuing this career right now. So maybe there should be more foresight and transparency in financial matters and as experts on this domain certified financial planner board should be very much required in this attempt to create a better, more secure financial system.
