Public Comment Period for Proposed Changes to the Competency Standards for CFP® Certification
CFP Board’s Board of Directors is seeking public comment on nine proposed changes to the Competency Standards for CFP® certification, which include the education, experience, examination and continuing education requirements. CFP Board’s goal is to ensure that the Competency Standards remain modern, relevant and practical for the evolving financial planning profession.
To develop the proposed recommendations, CFP Board established a Competency Standards Commission in 2023 to conduct a comprehensive review of CFP Board’s Competency Standards for CFP® certification. CFP Board and its Board of Directors welcome comments to ensure that the proposed revisions reflect the feedback and insights of CFP® professionals and the public they serve.
The Commission was a select group of 15 volunteers, including 12 CFP® professionals, individuals from financial services firms, educators, certification and credentialing professionals, other stakeholders, and members of the public. This group spent 18 months exploring CFP Board’s current requirements for obtaining and maintaining CFP® certification.
The Board of Directors carefully evaluated the Commission's recommendations. The current comment period focuses on areas where additional feedback is needed.
CFP Board recognizes that changes to the Competency Standards can significantly shape the future of the profession. Input from a broad range of voices provides crucial context as the Board of Directors considers their next steps in this process. CFP Board is actively seeking input on the proposed changes from practitioners, candidates, firms and the public.
The deadline to submit comments is February 28, 2025.
CFP Board will post all comments on the CFP.net website with the name of the commenter and the date submitted. As an alternative to submitting comments, you can also upload a document (e.g., a letter) with your feedback. The Board will review public comments and other relevant data, carefully evaluating the issues throughout 2025, as it contemplates reaching a final decision on the proposed changes by November 2025.
Review Proposed Changes & Submit Comments
About the Proposed Recommendations
The Commission’s discussions, debates and decisions were guided by the following Guiding Principles:
- CFP® certification communicates value and relevance to those who carry the mark, those who pursue it, and for the benefit of the American public.
- Competency standards for CFP® certification must warrant public trust.
- Competency standards for CFP® certification elevate recognition and respect for the profession of financial planning; defined as:
- A profession whose clients can realize security, fulfillment, dignity and independence.
- A profession distinguished in society and in our economy for helping people be better off.
- A profession that smart, motivated, compassionate and diverse high school and college students aspire to pursue.
- A profession that mirrors the diversity of the population and is valued by employers, large and small.
- Competency standards for CFP® certification should reflect current credentialing practices and align with respected credentialing organizations and established professions.
- Competency standards for CFP® certification must merit accreditation by the NCCA (National Commission for Certifying Agencies) as well as surpass its requirements.
- CFP® professionals are committed to act as fiduciaries and, therefore, act in the best interests of their clients.
The proposed revisions reflect CFP Board’s commitment to advancing the financial planning profession and maintaining public trust. CFP Board welcomes all input on the proposed revisions to the Competency Standards, which are central to CFP® certification’s reputation for integrity, competence and ethical excellence in financial planning.