CFP

*The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”).

The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP® certification in the United States.

To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:

• Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services and attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning.
• Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances.

• Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and

• Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.

• Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and

• Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients. 

CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.

CRPC

Individuals who hold the CRPC® designation have completed a course of study encompassing pre-and post-retirement needs, asset management, estate planning and the entire retirement planning process using models and techniques from real client situations. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations.

All designees have agreed to adhere to Standards of Professional Conduct and are subject to a disciplinary process.

Designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct and complying with self-disclosure requirements.

CKA

Certified Kingdom Advisor® is a designation granted by Kingdom Advisors®, Inc., a non-profit organization, to individuals who have demonstrated themselves to be:

• Believers in Jesus Christ by pledging agreement with the Kingdom Advisors® statement of faith and providing a personal testimony of accepting Jesus Christ as their Lord and Savior.
• Able to Apply Biblical Wisdom in Counsel by participating in the Certified Kingdom Advisor® Educational Program, as well as 10 hours of annual continuing education, and committing to incorporate biblical principles in their financial advice for clients with a Christian worldview.
• Technically Competent by providing evidence of an approved professional designation (CFP®, ChFC®, CPA, CPA/PFS, EA, CFA, CIMA®, AAMS, CLU®, JD) or having at least 10 years full-time experience in their discipline.
• Ethical and of Integrity by agreeing to espouse and practice the Kingdom Advisors® Code of Ethics and maintain active local church involvement, as well as providing pastoral and client letters of reference. In addition, designees must disclose any compliance or licensing issues since the prior year which are subject to the Kingdom Advisors disciplinary process and procedures.
• Biblical Stewards by pledging that they practice biblical stewardship in their personal and professional life and give regularly in proportion to their income.

CIMA

The Certified Investment Management Analyst® designation provides advisors, consultants, and analysts with the tools to go beyond investment fundamentals. The program integrates practical knowledge with investment theory, with deep dives into advanced portfolio construction, accounting, and risk management. The program also delivers a systematic process to put this sophisticated knowledge into action – differentiating services, solutions, and outcomes.

The CIMA® certification exam is proctored and is taken online or in person. The certification exam is 5 hours and consists of 15 unscored pretest questions, 125 scored multiple-choice questions. Examination topics include fundamentals, investments, portfolio theory and behavioral finance, risk and return, and portfolio construction and consulting process. 150 hours of preparation is recommended.

CIMA® certified professionals are required to complete and report a minimum of 40 credit-hours of continuing education within a two-year period. Of those hours, 2 credits hours of ethics and 1 credit hour of tax or regulatory topics are required.

BFA

One of the most powerful ways to communicate with clients is through behavioral financial advice – the practice of integrating traditional finance practices with psychology and neuroscience to improve the emotional competence and decision-making behavior of clients, resulting in effective usage of the financial plan for the advisor and clients.

This self-directed course, which takes 20 to 30 hours to complete, includes a mix of interactive exercises, videos and case studies. To keep their skillset evergreen, the Behavioral Financial Advisor (BFA) designation requires 20 BFA CE credits every two years and a $99 renewal fee.

QPA

The Qualified Pension Administrator (QPA™) provides additional knowledge to those who seek to administer defined benefit (DB) plans and work efficiently for respective clients. Additionally, it is helpful for those who work as project managers, ERISA consultants, and defined benefit administrators who work in client-facing roles.

Those who seek the QPA designation must first obtain the Qualified 401(k) Consultant (QKC) designation. Then, they must pass the QPA credential exam – a 66-question, closed-book exam. Finally, a candidate must apply for the credential and abide by the code of conduct.

To maintain a QPA designation, credentialed members must earn 40 hours of continuing education credits within a two-year cycle and renew their American Society of Pension Professionals & Actuaries (ASPPA) membership annually.

CFA

The Chartered Financial Analyst (CFA) designation is a globally respected, graduate-level investment credential established in 1962 and awarded by the CFA Institute, the largest global association of investment professionals.

To earn the CFA designation, candidates must (1) pass three sequential, six-hour examinations, (2) have at least four years of qualified professional investment experience, (3) join the CFA Institute as members, and (4) commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct.

High Ethical Standards – The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, requires CFA charterholders to:

• Place their clients’ interests ahead of their own
• Maintain independence and objectivity
• Act with integrity
• Maintain and improve their professional competence
• Disclose conflicts of interest and legal matters

Global Recognition – Passing the three CFA exams is a difficult feat that requires extensive study (successful candidates report spending an average of 300 hours of study at each level). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision-making in today’s quickly evolving global financial industry. As a result, employers and clients are increasingly seeking CFA charterholders, often making the charter a prerequisite for employment.

Additionally, regulatory bodies in 19 countries recognize the CFA charter as a proxy for meeting certain licensing requirements. More than 125 colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own finance courses.

Comprehensive and Current Knowledge – The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test proficiency in a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning.

The CFA Program curriculum is updated every year by experts from around the world to ensure that candidates learn the most relevant and practical new tools, ideas, and investment management skills to reflect the dynamic and complex nature of the profession.

CAIA

The Chartered Alternative Investment Analyst (CAIA) designation was created for financial professionals who wish to deepen their knowledge in alternative assets and portfolio diversification. This can include people such as asset allocators, risk managers, portfolio managers, etc.

The process to obtain a CAIA designation involves completing two levels of qualifying exams, along with relevant professional experience. It is recommended that applicants commit to at least 200 hours of study for these exams. Both Level I and Level II exams are offered twice a year, in September and March.

Level 1: Focuses on areas such as ethical principles, real assets, private equity, and hedge funds.

Level II: Focuses on asset allocation, risk management, volatility, and due diligence.

There are no continuing education requirements once someone obtains the CAIA designation.

CIMC

The Certified Investment Management Consultant (CIMC) is no longer offered to financial professionals but is still recognized for designation holders as long as they continue to meet renewal requirements. Continuing education for the CIMC designation consists of 40 hours every two years, including two hours of ethics training. This is reported to the Investments & Wealth Institute (formally known as IMCA).