CFP® exam FAQ
Answers to the most common questions about the CFP® exam.
What does a CERTIFIED FINANCIAL PLANNER® professional do?
A CFP® professional is a financial expert trained to offer guidance in areas such as investment management, estate planning, retirement planning, tax strategies, and risk management for a broad range of clients. CFP® practitioners help individuals and families create comprehensive, long-term financial plans designed to support lasting financial well-being. They evaluate clients' needs across areas such as investments, healthcare costs, education funding, savings objectives, and retirement readiness.
Whether helping a family save for college or advising a high-net-worth individual on estate and business succession planning, CFP® professionals are equipped to provide strategic financial guidance on a wide variety of financial matters.
When are the CFP® exam dates?
The CFP® exam is offered in three exam windows each year: March, July, and November. The test-taking windows are always eight days long. The CFP Board's official website will have the most up-to-date information on exam dates.
What is the total cost of earning the CFP® certification?
To become a CFP® professional, candidates must pass an intensive, six-hour exam with the following fee structure:
- Early-bird registration: $825
- Standard registration: $925
- Late registration: $1,025
Along with the exam, candidates must also complete coursework in financial planning through a CFP Board-approved program. These programs are often available online or through accredited universities. These courses can range between $3,000 and $7,500. In some cases, an employer can pay for all or part of the expenses related to the certification application. Some candidates may be able to take an accelerated education path at a lower cost if they already hold a CPA or other financial planning credential.
Other costs include a $250 application fee and related educational costs to fulfill the bachelor's degree requirement.
Is the CFP® certification globally recognized?
Yes, CFP® certification is internationally recognized in approximately 30 countries and territories, including the U.S., and is administered by organizations affiliated with the Financial Planning Standards Board (FPSB).
What jobs can I get as a CFP® professional?
CFP® certificants can take on a variety of client-facing roles that involve financial planning and advising. Some common job titles include:
- Financial Planner
- Wealth Manager
- Investment Advisor/Portfolio Manager
- Financial Analyst
Within these roles, CFP® certificants use their expertise to develop comprehensive financial strategies, optimize tax savings, manage investments, and use market data to make informed recommendations for their clients.
What's the difference between CFP® and CFA® certifications?
The Chartered Financial Analyst® or CFA® certification, granted by the CFA Institute, is a prestigious, internationally recognized credential for investment professionals and financial analysts. Earning the CFA® charter reflects a high level of expertise in portfolio management, financial analysis, and investment leadership within financial institutions.
The primary difference is that CFA® charterholders typically specialize in investment analysis, portfolio management, and institutional investing, whereas CFP® professionals provide comprehensive financial planning, including retirement, tax, insurance, estate, and investment planning. Many financial professionals hold both certifications, allowing them to combine broad financial advisory services with deep investment knowledge.
How much does a CFP® professional make?
The CFP Board reports that CFP® professionals at varying levels of experience commonly earn salaries well into the six figures:
- 5-10 years: $149,000
- 11-20 years: $225,000
- 20+ years: $359,000
Earning the credential is a great way to increase salary potential, promote job growth, and increase professional credibility.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.