Anyone take the CFP after obtaining CFA charter…difficulty of CFP exam?..preparation process?, best prep materials…etc
I just received CFA charter in 2018 and thinking about obtaining a CFP certificate…but gun shy about tackling another monster endeavor>>>(lol).
What is your current job, and, why do you want to write the CFP?
Mike
I guess hard for you to answer unless you have your CFP
I am not considering the CFP for career reasons…rather my own personal benefit…I like to learn and the information in the CFP curriculum is likely of practical use to me. I do my own personal estate planning/investing etc. and
I feel that having just completed my CFA charter …CFP material will be easier for me to learn right now. with CFA curriculum fairly fresh in my mind.
Well, I already hold another financial planning designation (in Canada), and just sat for the CFP exam in June. I have my own investment and planning practice.
Without valid work experience, I doubt you would be able to obtain the credential.
Depending on what country you are in, you could check the path to CFP certification and obtain some study materials and start to read up on your own. However, the practical experience (IMO) is much more beneficial to learning and skill development rather than simply reading books.
Mike
Interesting perspective…I have already had my working experience qualified y CFP board…
Some people would disagree with you… good practical experience carries you only so far…preparation really understanding concepts and being a good test taker may be more important…anyway I never really got an answer to my question…
good luck in your CFA journey!
There are a number of different CFP prep exam providers: Exam success is pretty good. I used them and was happy with the materials provided and the cost was very reasonable. They have the notes, m/c quiz and constructed response tests that you can use to prepare for the CFP exam.
Thinking about doing the same thing. Want to be on the client-facing side more and brush up on estate and insurance concepts. You can do an accelerated path with a CFA charter which has you do six to eight weeks of a capstone course and once you pass that you can sit for the exam.
I just did the thing you are talking about. Got my CFA Charter many years ago and just passed the CFP exam.
It’s not a “monster endeavour” by any means. Having the CFA Charter exempts you from 6 of the courses - all you have to take is the final capstone course. I did mine online - they list providers. Like all online courses it was easy as cake. You could do it in a weekend if you had time.
For exam study materials I used Wiley, which I wouldn’t recommend. So many errata and no response. Definitely not Schweser (I used for the CFA and loved).
But as long as you study for it like you did for the CFA you should be fine. I had a condensed time period of 2-3 months and still passed. I don’t think their passing standards on the test are as high - I was getting 60-70% on the practice tests and very concerned and still passed (thought I had failed).