I was wondering if anyone pursued CFP certification either after or before receiving/pursuing CFA charter?
CFP test/process…level of difficulty vs CFA exams, does CFP have a lot of overlapping information with CFA charter…especially level 3, best prep services…best approach to prepare for CFP…I am under the assumption that just completing the CFA will make the exam preparation process easier because CFA curriculum is still somewhat fresh? anyones thoughts experience is welcome!!
CFP is easy and took me about 25 hours of studying… They require 6 courses which I pass self study once a week (not included in the 25 hours). You csn exempt yourself from 2-3 of the courses if you have CFA. A 7th class (called the capstone) requires a video and written recommendation which cannot be done self-study so you have to go at the online professor’s pace. After that, you can sit for the exam, which is held 3 times per year. Its computer multi choice and you find out if you pass immediately. I used Kaplan self study for the required courses. Alternatively you can do in person classes or web classes but the pace is over 9-12 months. ( 9 months for “accelerated” lol)
There is some overlap such as dividend discount model, time value calculations, human life value, estates and trusts. Most of it is dumbed down and nothing overly complex. Hardest topic is probably taxes and unrelated to cfa.
CFA is much much harder on a different level. I spent approximately 2000 hours on CFA for the 3 exams.
Hi AF Karma
Very helpful…I think current requirement is… with CFA charter you only have to take the capstone class and then can sit for the exam.
I am pleased to know preparation is much less than CFA and test not as difficult. I really appreciate your taking the time to answer…thank you so much! good luck with level 3…Ron
If you reach the summit of Mt Everest…do you care about Himalaya or Mt.Washington?
I am thinking of sitting for the exam in July. I have my charter so dont need to do education reqs but Kaplan suggested I review the education courses before doing the capstone and exam prep/review. Obviously they want me to buy more of their products, so should I buy the course books and read those through for review? Or should i skip the education because I can and go right to Capstone and exam prep? I am pretty good studier, passed all my CFA exams on my first attempt but its been like 3 years so I am going to be rusty.
You spend 2000 hours for CFA !
If you wouldn’t pass who would ? You are a machine , a Terminator.
A former coworker and Charterholder tried skipping over the educational piece and go directly to the exam prep. He took the exam and failed. He’s a smart guy so it has me slightly concerned that maybe I should take the courses before jumping into the exam prep.