The Importance of using a Certified Financial Planner™

Times have changed over the last several decades.  People are living much longer with the benefit of Modern Medicine and healthy living.   This is great news in most cases.  It is not so good, for people who wish to live on the retirement nest egg for 20, 30, even 40yrs.   This is why detailed continuous retirement planning is critical. 

If you were faced with a critical situation with your health, home or auto, wouldn’t you ask around and go to a specialist with the highest of education and skills to provide the right solutions to fix your problems.  Why does your retirement plan need to be different? 

The Certified Financial Planner Board of Standards, Inc. has created a certification of “Certified Financial Planner” that is indicated by its marks; CFP® and Certified Financial Planner™.  This certification was developed after the public’s growing need for objective financial planning advice combined with the rigorous standards of the CFP Board.  In order to accomplish this designation you must meet four main requirements:

  • Education: Individuals must complete a personal financial curriculum available through various secondary education institutions.  They also must hold a minimum of a bachelors degree from a acceptable institution
  • Examination:  Each certificate must pass a 2 day exam that tests the knowledge of financial planning in various components of the process
  • Experience: Prior to earning the certificate, each individual must  provide evidence of work related experience in financial planning
  • Ethics:  CFP® certificates must meet character and fitness standards and sign an affidavit disclosing any investigations or legal proceedings.  They also must adhere to the standards set forth by the CFP Board of Standards

As a Certified Financial Planner™ since 2006, it amazes me when I meet with new clients that say they have a current financial plan from several years ago, and have never gone back to review it with the advisor.  Many of the larger financial institutions have cookie cutter, boiler plate plans that will give the warm and fuzzy once complete, but have not relevance as your financial future changes.  Financial planning is a process, not a thing.  With any process, there are steps and with checks and balances.  If you have not reviewed your plan with your advisor at least annually, than it is not a process.  I encourage all current and future retiree’s to make sure they have a qualified CFP® and continuously review and update their plan regularly.

Jason A. Jennings, CFP®

Key Financial Group, LLC

Frederick, MD

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  To determine which investment(s) maybe appropriate for you, consult your financial advisor prior to investing.