Certified Financial Planner®, or CFP, is a trademarked name by the Certified Financial Planner Board of Standards.
The CFP Board issues the certifications and governs the professionals using the CFP certification within the United States. CFP Board is a 501(c)(3) nonprofit organization dedicated to setting high standards and requirements for anyone using their trademark. The CFP Board is governed by the CFP Board's Board of Directors.
Due to this trademark, a licensed financial planner cannot state they are a "certified" financial planner without infringing upon trademark laws even though they are certified to operate as a financial planner.
Having the CFP certification isn't necessarily to operate as a financial planner. The certification is highly trusted financial credential within the financial world.
To obtain the trademarked title of CFP, an individual must have a bachelor's or higher from an accredited school. The CFP Board requires the completion of a specific list of courses in financial planning. More information can be obtained from the CFP website.
The average pass rate to receive the Certified Financial Planner® certification is roughly 60%.
The exam will cost $725.
An individual can only take this test up to 4 times in their lifetime.