WHAT THE CFP^® AND RICP^® DESIGNATIONS MEAN FOR YOU

Anyone can claim to be a “financial planner,” but only those who have fulfilled specific certifications and renewal requirements can display designations and marks like Certified Financial Planner^™(CFP®) and Retirement Income Certified Professional® (RICP®).

When selecting a financial planner to help you navigate the complexities of your financial landscape, you deserve to feel confident that the person you’re placing your trust in is both experienced and ethical in their approach.

HOW THE RICP® DESIGNATION CAN BENEFIT YOU

The RICP® designation signifies that a financial advisor has the depth of knowledge to deliver effective retirement income planning services to help individuals, like you, transition into retirement smoothly. RICP® advisors apply their specialized knowledge to develop strategies that encompasses Social Security optimization, tax-efficient approaches, longevity risk management, retirement income diversification and comprehensive financial planning.

HOW THE CFP BOARD'S CODE OF ETHICS CAN BENEFIT YOU

Through the Code of Ethics, CFP® practitioners agree to act fairly and diligently when providing you with financial planning advice and services, putting your interests first. The Code of Ethics states that CFP® practitioners are to act with integrity, offering you professional services that are objective and firmly based on your specific needs. They’re required to provide you with information about their sources of compensation and conflicts of interest in writing. For an advisor to certify as a CFP®, they must demonstrate their ability to fulfil the “Four E’s” – education, examination, experience and ethics.

THE FOUR E’S

Education: CFP® professionals must develop their theoretical and practical financial planning knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board. Other options for satisfying the education component include submitting a transcript review or previous financial planning-related coursework to CFP Board for review and credit, or showing the attainment of certain professional designations or academic degrees.

Examination: CFP® practitioners must pass a comprehensive CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. Based on regular research of what planners do, the exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.

Experience: CFP® professionals must have three years’ minimum experience in the financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics: As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, which sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.