When you need help managing your money, then you turn to a financial advisor, such as a Certified Financial Planner. CFPs are highly trained and certified in various forms of money and investment management. Financial planners that hold CFP certifications are well prepared to help you navigate a variety of financial situations, from planning for retirement to answering some tax questions. Here is what you need to know about Certified Financial Planners.
Certified Financial Planner (CFP)
A Certified Financial Planner is a specialized advisor that holds the credentials under the CFP Board. CFPs focus on long-term financial planning including making investments that yield returns that you can live off of. In many cases, you would partner with a CFP to manage inheritances or high income earnings so that you can have enough to live off of for a long time.
The Certification Process for CFPs
CFPs undergo strict certification processes that include more than 1,000 hours of training. They also have more than three years of experience and have passed rigorous full-day tests to get the CFP certification. The tests evaluate a candidate’s knowledge of financial and tax planning, retirement planning, estate planning, and insurance. The test centers on applying their financial knowledge to real life situations. Just memorizing route principles isn’t enough, as CFPs must know how to apply theories into practice for their clients.
Certified Financial Planners are help to high ethical standards. Part of the certification process ensures their commitment to confidentiality, integrity, and fiduciary responsibility. This means that they must act professionally and put the client’s needs first.
Why Certifications Matter
CFPs play a big part in how people manage their investments. Investments and money management can be difficult since there are so many regulations that need to be accounted for. Plus, extensive experience is needed to truly understand investments and money management can be used to your benefit. That is why CFPs are under such strict regulations. Their advice can drastically change what happens to your money. Certifications and the organizations that issue them make sure that CFPs meet a high standard in terms of knowledge and ethics when working with clients.
When it comes to managing your wealth, everyone wants to choose the most qualified and experienced financial advisor. Choosing one with the right certifications can help verify that they know what they’re doing and have the right training. It is possible for a financial advisor to have more than one certification.
CORDA Investment Management, LLC, is an investment advisory firm that provides wealth management services for clients nationwide. CORDA’s headquarters is in Houston, and the firm also has offices in Austin and Dallas. If you are ready to begin a long-term professional relationship with a proven investment firm, please contact CORDA today at https://cordamanagement.com or by phone at (855) 439-0665.