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How to Become A Financial Planner - Work At Home Business As A Certified Advisor - Some Certifications Do Not Require College Degree

May 21st 2006

How to Become A Financial Planner - Work At Home Business As A Certified Advisor - Some Certifications Do Not Require College Degree


There are many options when it comes to a home business and one popular choice is a Certified Financial Planner (CFP).  In fact, according to the Bureau of Labor Statistics, 4 out of 10 CFP are self employed and the median income as of May 2004 was $62,700. 

So what does it take to become a financial planner?  As the name entails, in order to become a Certified Financial Planner, you need to become certified.  You will need to take and pass a test.  After 2006, all applicants for a CFP certificate must have a bachelor’s degree.   According to the Certified Financial Planners, Board of Standards, it is not a requirement to be eligible to take the CFP Certification Examination and you do not have to have the degree before sitting for the exam or fulfilling the work experience. The bachelor's degree requirement will be waived for those individuals who have met all certification requirements prior to 2007. 


It does not matter what the degree is in.  The Board will also require “three years of relevant experience” with a bachelor’s degree after 2006. Until 2007, individuals who do not have a bachelor's degree may substitute the degree requirement with five years of relevant experience.

Ethics is also important.  The Board application asks you to “disclose whether you have ever been a party (or involved) in any criminal, civil, governmental, or self-regulatory agency proceeding or inquiry.”  You will also be required to agree to adhere to CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards. 


It all may be worth it when you consider the benefits of working for yourself.  The better your communications skills the more money you will likely make.

There are other certification programs that do not require a college degree.  The Professional Career Development Institute says there are no specific educational prerequisites or experience requirements to enroll. You should do well if you are comfortable with basic math and are motivated to learn.  Some classes can be taken online. 

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Dan Wilson
Best Syndication

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Important:  The material on Best Syndication is for informational purposes only and is not meant to be advice. You should always seek professional advice before making financial decisions. 
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