CFP Accelerated Path: What Advisors Should Know

Many financial advisors want to earn the CFP® mark but worry about long coursework and time. The CFP® Accelerated Path allows you to bypass much of the traditional education if you have certain degrees or credentials, like a CPA or CFA.

This post explains who qualifies for the accelerated path, what steps you must follow, and how it can save you time on your way to CFP® certification. Keep reading to see if this fast track could work for you.

Key Takeaways

• The CFP® Accelerated Path lets advisors with advanced degrees or credentials, like CPAs, CFAs, ChFCs, and attorneys, skip most of the standard coursework for CFP® certification.
• Candidates must still complete a Capstone course (about 45 hours) or an approved alternative that includes creating and presenting a real financial plan.
• You need to show proof of your eligibility by submitting official transcripts or certificates to the CFP Board before enrolling in the Capstone course.
• To earn certification, you also need at least three years of experience in financial planning and must pass an ethics review and background check by the CFP Board.
• This fast track saves time compared to traditional routes but requires strict attention to meeting all requirements—especially balancing study with work commitments.

What Is the CFP® Accelerated Path?

After learning about the CFP® certification, you might want a faster path. The CFP® Accelerated Path helps qualified financial professionals skip most of the standard coursework requirement for CFP® certification.

This option is for those with advanced degrees or designations like a CPA, CFA, ChFC, or those who completed certain business administration programs. Candidates must still complete the capstone course or an approved alternative that involves developing and presenting a comprehensive financial plan.

Once finished, eligible candidates can sit for the CFP® exam sooner and move ahead in their path to cfp® certification. This route saves time while meeting all standards set by the CFP Board and Financial Planning Standards Board Ltd (FPSB).

Eligibility Requirements for the CFP® Accelerated Path

To qualify for the CFP® Accelerated Path, you need specific degrees or credentials. You must also submit proper documentation to verify your eligibility.

Qualifying degrees and credentials

To take the CFP® Accelerated Path, you need specific degrees or credentials. This path lets you skip a lot of coursework.

• A degree in financial planning from a CFP Board-registered program qualifies you.
• Holding a certified public accountant (CPA) license means you meet the requirement.
• If you have Chartered Financial Analyst (CFA) certification, you're eligible.
• Certified Life Underwriter (CLU) holders can also take this path.
• Those with a Ph.D. in business or economics are qualified.
• Having an attorney's license makes you eligible for the accelerated path.
• A Master’s degree in financial planning, business administration, or similar fields is accepted.
• You can qualify with a Doctor of Business Administration degree.
• Foreign financial planner certifications may meet the eligibility; it depends on the certifying body and country.
• Licenses like Chartered Financial Consultant (ChFC) are accepted too.

Each of these qualifications lets candidates bypass much of the required coursework to sit for the CFP® exam. They still must complete a financial plan development course or capstone alternative and meet experience and ethics requirements.

Submission of documentation

Submit proof of your qualifying degrees or credentials to the CFP® Board. Upload copies through your board account, such as a transcript for a personal financial planning degree or certification from outside the U.S. The board will confirm if you meet the education requirement for the accelerated path to CFP® certification.

Include all requested documents before enrolling in the CFP® Capstone course or any review course with Kaplan or another provider. Correct documentation helps you qualify for the accelerated path and sit for the CFP exam.

Key Steps in the CFP® Accelerated Path

Candidates need to complete a Capstone course or choose another option. They also must meet experience and ethics standards to qualify for certification.

Completing the Capstone course or alternative

The Capstone course is a key part of the CFP® Accelerated Path. It helps candidates apply their knowledge in real-world situations.

1. Completing the Capstone course is required for those on the accelerated path. This course covers important aspects of financial planning.
2. Students present their own financial plan as part of the Capstone course. This project shows what they learned throughout their education program.
3. The Capstone course requires 45 hours of study time. This is a great way to refresh your knowledge.
4. Some candidates may choose an alternative to the Capstone, if available. Alternatives must meet CFP Board's standards.
5. Enrolling in the Capstone course or its alternative can help candidates bypass much of the coursework required for certification.
6. Taking this course allows students to gain hands-on experience in developing a financial plan. It prepares them for real client interactions.

Meeting experience and ethics requirements

Meeting experience and ethics requirements is vital for candidates on the CFP® Accelerated Path. This ensures that they possess the necessary skills and uphold high standards in financial planning.

• Three years of experience in financial planning is required. This experience should include direct client interactions and planning responsibilities.
• Applicants must show proof of their work history. This can be done with letters from employers or documentation of relevant tasks performed.
• Ethical standards are a key part of the certification process. Candidates should demonstrate integrity and professionalism in all dealings.
• A background check may be conducted by the CFP Board. This helps ensure that all candidates meet ethical guidelines set forth by the board.
• Candidates need to complete an ethics course as part of their training. This course typically covers integrity, objectivity, and fiduciary duty.

Reviewing these experience and ethics requirements is crucial for success. Next, we will explore the benefits of the CFP® Accelerated Path.

Benefits of the CFP® Accelerated Path

The CFP® Accelerated Path offers many advantages for those looking to become Certified Financial Planners. First, this program allows candidates to skip much of the traditional education.

They can use their existing degrees and credentials, such as a licensed CPA or other approved credentials, to meet most requirements. This streamlined process saves time and effort compared to standard paths.

Moreover, candidates gain access to valuable resources through the program. They receive course materials that prepare them well for the certification exam. The final project in the Capstone course lets students present their own financial plan.

This practical experience is essential for future success in real-world situations. Candidates also connect with experienced mentors who support them along their journey toward becoming certified financial planners™.

Challenges to Consider with the CFP® Accelerated Path

Completing the CFP® Accelerated Path can be tough for some candidates. They must meet strict requirements. This includes finishing a Capstone course or an alternative while balancing work and study.

Time management becomes key when juggling exam prep and daily commitments.

Meeting the experience requirement may add stress as well. Candidates often need to present their own financial plan. This requires real-world knowledge of financial planning processes, which can feel overwhelming without sufficient hands-on practice.

For many, this path demands strong commitment and focus to succeed in achieving CFP certification.

Conclusion

The CFP Accelerated Path offers a quick route for advisors. Understanding the steps and requirements is key. This path can help you earn your certification faster than traditional routes.

Prepare for some challenges, but the benefits are great. Stay focused on your goals and take action to succeed in this journey.