I've noticed, especially after the DOL stuff, that there seemed to be a lot more chatter about how you have to use a CFP. The marketing is great (by CFP Organization and CFP Designees) as the illusion has been created that you are guaranteed to be supported by an ethical and all knowing individual if they have this designation. The CFP board has come under fire as it's been discovered how little they monitor their members after they pass the test.
The reality is, this designation is obtained by taking courses and reading a bunch of books. It's maintained by taking continuing education. I work with many advisors and some are CFP, some aren't. The designation does not differentiate their capabilities or ethics.
I began pursuit of CFP a number of years ago, realized in the midst of "learning" just how irrelevant most of the info was to what we do on a daily basis. Moreso, I realized it was a system that was a snapshot in time and didn't do much to keep me up to date as things change (we all know the required continuing Ed is a joke). I dropped the course and focused on partnering with the necessary experts in each field to support the various needs of my clients, as well as staying current with relevant topics. Other than not appearing in CFP site searches, I've never spoken with anyone who walked away because I wasn't certified.
Not saying CFP is bad by any means... But it would weigh very little in my decision to engage with an advisor.
Flame away.
The reality is, this designation is obtained by taking courses and reading a bunch of books. It's maintained by taking continuing education. I work with many advisors and some are CFP, some aren't. The designation does not differentiate their capabilities or ethics.
I began pursuit of CFP a number of years ago, realized in the midst of "learning" just how irrelevant most of the info was to what we do on a daily basis. Moreso, I realized it was a system that was a snapshot in time and didn't do much to keep me up to date as things change (we all know the required continuing Ed is a joke). I dropped the course and focused on partnering with the necessary experts in each field to support the various needs of my clients, as well as staying current with relevant topics. Other than not appearing in CFP site searches, I've never spoken with anyone who walked away because I wasn't certified.
Not saying CFP is bad by any means... But it would weigh very little in my decision to engage with an advisor.
Flame away.