Frequently Asked Questions
CFP® professionals are dedicated to using the financial planning process to serve the financial needs of individuals, families and businesses. Most CFP professionals have earned a four-year college degree in a finance-related field, and have completed a course in financial planning approved by the CFP Board.
To earn the prestigious CFP® certification and remain certified as a CFP professional, individuals must meet four main requirements.
Certified Financial Planner™ Professionals must successfully complete the CFP Board’s comprehensive certification examination, which tests an individual’s knowledge on various key aspects of financial planning.
Certified Financial Planner™ Professionals must acquire three years of financial planning-related experience before receiving the right to use the CFP certification marks.
Certified Financial Planner™ Professionals must voluntarily ascribe to CFP Board’s Code of Ethics and additional requirements as mandated. CFP practitioners who violate the code can be disciplined, including permanent loss of the right to use the CFP certification marks.
Certified Financial Planner Professionals must complete 30 hours of continuing education every two years to stay current in financial planning knowledge, including ethics.
Compliance with these four areas informs you that an individual who holds the CFP certification mark is well prepared and qualified to give sound, professional advice.
Fee-Only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients’ best interest. Fee-only financial advisors do not accept any fees or receive compensation from a brokerage firm, a mutual fund or insurance company, or from any other source other than you, the client. Since fee-only financial planners’ sole compensation comes directly from clients, their only loyalty is to clients and making sure the advice provided is the best for each client’s unique financial situation.
Holistic Financial Planning is a term we use to describe the ultimate blending of comprehensive planning and life planning to meet your unique needs. Holistic Financial Planning involves every aspect of your financial life, and more. We are truly client-centered and view you in terms of all of your resources. We seek to uncover your passions, intentions, and objectives. What are your cash flow needs now and in the future? What is your risk tolerance and investment perspective? When do you want to retire? What is your exit plan for yourself and succession plan for your business? What do you envision as life after your career or business? What do you want to leave and to whom do you want to leave it? We help our clients focus on their values and motivations, determine the goals and objectives they have, and then use these values, motivations, goals and objectives to guide the planning process and provide a framework for making decisions that have financial and non-financial implications.
Holistic Financial Planning is a life planning process that applies traditional financial analysis within a framework of your life and total resources. Where needed in this process we will act as your liaison and will coordinate a team of key professionals that could include an Estate Planning Attorney, CPA, Insurance Agent, Business Broker, etc.
To be a fiduciary means that the advisor must act in the best interest of the client and put the client’s interest ahead of his or her own. A fiduciary would be prohibited from making recommendations that produce higher commissions for themselves in the role of financial advisor or their investment firm.