You probably didn’t notice, but I haven’t sent anything out or posted an article in a while. Aside from seeing friends get married, snapping pics of grizzly bears in Wyoming, and watching the M’s, I’ve spent the last month anchored down at my desk studying for the CFP® exam. This six-hour test is the biggest hurdle to becoming a Certified Financial Planner and was a difficult one to study for. Since November, I’ve been working on checking the boxes to become eligible to take the test and then studying for the beast. I will spare you the boring details of the entire process, but long story short, yesterday I passed! This was a huge relief and weight off my shoulders, and now I can get back to getting rid of my Speedo tan lines and writing an article for you every two weeks.
For those wondering, “what the hell is a CFP?”, it is a designation created by the Securities and Exchange Commission (Federal Government) in order to help the public distinguish who they should be able to trust with their finances. Similar to a CPA (Certified Public Accountant), the CFP® designation requires annual continuing education and abiding by certain principles and rules. Do you remember the commercial a couple years back where a couple is meeting with someone they think is a financial planner, only to learn that he’s a DJ in a shirt and tie? That was put out by the CFP Board as a way to encourage clients to actually look into the credentials of the person advising them. So, before you take someone’s word, ask about their credentials and license. A good place to start would be to see if the letters CFP® are after their name. (I won’t have this for a couple of years, as there is also a requirement to have three years of experience in the industry). If you are looking for financial help, do your homework and ask questions before starting a relationship with a financial planner. Not every CFP® is going to be a great fit for you, but its a good place to start.
Happy Summer,
David
MoneyStuff 