How Are Exchange’s Advisors Certified?

When working with an advisor, you should feel confident in their expertise and education. You shouldn’t question if they are coming up with the best strategies or making decisions in your best interest, you should be able to trust your advisor.

At Exchange, we push our advisors and support teams to pursue higher learning opportunities. There are many ways an advisor can continue learning in their field, but one way is by obtaining certifications. While there are many certifications an advisor can earn, we think the Certified Financial Planner (CFP) designation is one of the most valuable.

What is a Certified Financial Planner (CFP)?

The CFP designation signals a high level of expertise and competence in the financial planning field. It focuses on taxes, insurance, investments, retirement, and estate planning in order to provide knowledge of core financial topics.

The CFP certification is not an easy designation to obtain. Candidates must complete a rigorous course of study approved by the CFP Board, pass a comprehensive examination, and hold four years of industry experience. Once they meet these requirements, they must sign an ethics declaration ensuring they hold themselves to a fiduciary standard. This means they must legally put their client’s interests above their own and their employers.

How Does This Benefit You?

Any advisor that holds themselves to a fiduciary standard must avoid or disclose all conflicts of interest to their clients. This promotes a transparent relationship between you and your advisor. Any advisor that has earned their CFP certification has clearly made a commitment to the industry and their clients. Even after obtaining the designation, the advisor must enroll every two years in 30 hours of continuing education programs approved by the CFP Board. This ensures that they maintain a broad view of the industry and are staying current on major policy changes.

If they don’t meet requirements or uphold their duties, CFP certificate holders can receive sanctions, lose their certification, or be barred from the industry entirely.

The Bottom Line

Exchange believes that pushing our staff to further their education and become certified exemplifies transparency with our clients and prospects. Trust is imperative for a successful partnership with a wealth management firm.

To learn more about why we believe certification is important, consider giving us a call. We truly believe it is beneficial to both the advisor and you.