CFP^® Certification Program - FAQs

I started the CFP^® Certification Program a couple of years ago and did not complete it. Do I have to start all over again?

We encourage you to complete the Program within four years from commencement.  However, we are mindful that most of our students are working professionals who are juggling very busy lives, so we look at each case on an individual basis.  Depending on when you started the Program and your reason(s) for not completing within the set timeframe, we can be flexible with the four year rule. 

I was awarded my CFP certification from another country. What do I need to do to have it recognised in Australia?

You need to complete the FPA Professionalism Unit and the 3 hour cross border exam from the CFP Certification Program within 2 years of being granted Australian residency. In order to enrol you are required to:

• Hold Authorised Representative/representative status with an Australian Financial Services Licensee (AFSL).
• Provide certified evidence of Australian residency.
• Provide a Letter of Good Standing from the initial certifying organisation stating that you are in good standing with the certifying body.

Once these requirements have been met, you may apply for CFP® certification in Australia. You are required to satisfy the following requirements for admission as a CFP professional in Australia:

• Hold an under-graduate or Masters degree;
• Hold Authorised Representative or representative status with an Australian Financial Services Licensee (AFSL); and
• Be employed in a position that satisfies the definition of 'approved practitioner experience'.
  
  

Click here for further details.

I’m currently working in the financial services industry but I’m not a financial planner. Can I enter the program with my experience?

Yes, you can enter the CFP Certification Program if you supply us with a letter from your employer.  However, to be eligible to obtain the designation, you must have three years experience including one year as an Authorised Representative with an Australian Financial Services Licensee (AFSL).

How do I know if I meet the educational requirements to enter the program?

On our website is a list of Approved Australian Education Courses which have been assessed to obtain entry into the CFP Certification Program.  Generally, you need to have a degree plus Advanced Diploma of Financial Services (if your course is not on our list) to gain entry into the Program.  If you are not sure, send an email to education@fpa.asn.au

What is the difference between the CFP Certification Program and the CFP Designation?

The CFP Certification Program is the formal education and examination requirements to assess your competencies, knowledge and capabilities required by the profession.  Once you combine these requirements with your experience and being a practitioner member of the FPA, you can then apply for the CFP Designation. The designation shows that you have achieved the 4 Es – ethics, education, experience and examination as set out by Financial Planning Standards Board (FPSB) which own the CFP Designation.

Am I entitled to exemptions based on my experience?

You need to have 12 months experience in a financial related field to gain entry into the program.  Currently, there are no exemptions awarded for experience in the financial planning industry.

Am I entitled to exemptions based on my education?

Yes, exemptions are available for the technical units of the CFP Certification Program if you have a postgraduate qualification which has been approved by the FPA. Exemptions can only be gained for the three technical units i.e. CFP 2, CFP 3 and CFP 4. These exemptions are based on completed postgraduate studies in Financial Planning. Please note the CFP Certification Program provides advanced standing into Masters Program at Universities in Australia. Our list of Approved Education Courses is available on our website.  It is up to each Education Provider to have their course approved by us. If you believe you meet the requirements, you can apply for a transcript review on your course. See the Student Handbook for further details.

Why do I need to do the FPA Professionalism unit as I have many years of experience as a planner and have done many courses?

The FPA Professionalism unit is compulsory for all members who are looking to gain their CFP designation. The unit looks at the relationship between ethics, professionalism, compliance and the law and how you act as a role model for the Australian financial planning profession while providing quality financial advice to your clients. It focuses on the FPA’s Code of Professional Practice to which you must agree to comply.

Do I have to study the CFP Certification units in order?

The short answer is no. Last year, we changed the need to complete the subjects in order to offer our students more flexibility in the Program. The only stipulations are that you need to successfully complete CFP 2 before you commence CFP 3 and you need to complete all units before you commence CFP Certification Assessment Unit (CFP 5) as this unit is the capstone of the program.

Can I study more than one CFP Certification unit at a time?

We understand that most people want to complete the Program as quickly as possible.  However, we do strongly recommend you only study one module each Trimester.  It is estimated that you would spend between 10 - 12 hours per week studying plus some units have two pieces of assessment in each Trimester.

Are there any discounts for studying more than one unit at a time?

No, there are no discounts and it is not recommended that you study more than one unit per Trimester.