V chartered financial planner marketing? (2024)

V chartered financial planner marketing?

Holding both CERTIFIED FINANCIAL PLANNER™ certification and the Chartered Life Underwriter® (CLU®) designation gives you a competitive edge, while allowing you to provide a more comprehensive approach to the services you provide, and enhance your career opportunities.

Holding both CERTIFIED FINANCIAL PLANNER™ certification and the Chartered Life Underwriter® (CLU®) designation gives you a competitive edge, while allowing you to provide a more comprehensive approach to the services you provide, and enhance your career opportunities.

– The CFA Institute says a CFA charter holder can earn between $126,000 and $177,000. – Comparably.com data from Feb. 2023 shows the average CFP salary in the U.S. is $121,099. The total range is between $39,300 and $187,200.

The CII's 'Chartered Financial Planner' status recognises organisations that are committed to professionalism, ethical practice, knowledge, and excellence. A certified financial planner (CFP) refers to the certification owned and awarded by the Certified Financial Planner Board of Standards.

CFS vs CFA

The CFS designation is not as well-known as the CFA, but financial professionals still respect it. The main difference between the two qualifications is that the CFS focuses on mutual funds. At the same time, the CFA covers a broader range of topics, such as ethics, derivatives, and portfolio management.

The CLU® designation is usually obtained after a number of years in the insurance business and passing licensing exams. The licensing exams are considered by most to be quite difficult, with thousands of people attempting them each year. The exams are lengthy, with many hours of study time required before taking them.

As clearly seen in the passing rates CFA is more difficult in comparison to CPA. On an average about 50% of the registered candidates clear CPA exam whereas about 7% of the candidates clear all the 3 levels of CFA. In terms of course also, the course of CFA is much more lengthy and detailed in comparison to CPA.

The CFP® Certification Examination is equally as challenging as the CFA® exams, the CPA® exam, and bar exam. Every year, thousands of candidates go through this rigorous certification testing, but not everyone makes it to the finish line. However, you can pass the exam.

Exam Difficulty

CFA charter exam topics are broadly categorized as financial concepts, portfolio management, financial analysis, and accounting. Comparatively, the CFP is easier to obtain than the CFA charter. The historical pass rate has been above 60% and looking as recent as 2022, it is around 46%.

Should I get CFA or CFP first?

​It really depends on your preferred career route: if you're into financial planning, CFP is the clear choice. If you're less sure but keen on a career in finance, perhaps CFA is a better choice for a broader finance base before you decide, although it is notably a more difficult qualification to get.

Salary and Career Path - CPA vs CFP

According to the Bureau of Labor Statistics (BLS), an accountant with a bachelor's degree can earn more than $78,000 per year on average, but a CPA can earn around $119,000. Certified Financial Planner (CFP) salaries in the United States range from $39,300 to $187,200.

Again, CFPs have a more ongoing duty to their clients. A fiduciary has a higher standard to meet. It's an ongoing standard. They have to ensure that your investments are hitting certain targets on a regular basis.

While both the CFA and CFP exams are quite difficult, the CFA exam is known to be one of the most, if not the most, challenging certification exams in the financial industry. It consists of three 6-hour exams that must be completed and passed in sequential order.

Difficulty Level: 4.4

The CFA (Chartered Financial Analyst) exam is recognized as one of the most rigorous exams globally.

While the CFA is the best designation to pursue in terms of investment knowledge, it certainly does not cover all of the aspects of financial planning. In very general terms, however, the CFA designation may help those in the corporate world more than those starting their own financial planning business.

The CLU^® Program has produced a powerful network of peers — with over 113,000 designees serving as life insurance planning specialists.

How do I become a Chartered Life Underwriter (CLU)? In order to become a CLU, individuals must pass eight 100-question exams and complete five core courses plus three elective courses. Additionally, the credential requires 30 hours of continuing education every two years.

In this article we examine three different designations that allow you to gain the knowledge you need to handle almost any client's situation: the Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), and Chartered Financial Consultant (ChFC).

The CLU Curriculum

As a general rule, candidates should plan to spend 50-70 hours studying for each course. The program can be completed as quickly as a candidate desires, but most students complete their designation requirements within 15-24 months.

What does the CLU allow you to do?

The CLU certification equips professionals with the fundamentals of life insurance to the complexities of underwriting, allowing them to perform the following services: Advise on the different types of life insurance and annuity.

As The College's oldest designation program, the CLU® provides you with the skills to build sustainable insurance plans that work within legacy, business, or estate plans.

Having taken and passed both, I can say that without a doubt the CPA exam is more difficult, and for one primary reason… breadth of subject matter. The Series 7 is 3 hours and 45 minutes, is comprised of 125 questions, and has a pass rate of approximately 70%.

Many consider the CPA to be the highest achievement across both accounting and finance—and the “gold standard” of the profession.

A CFA (chartered financial analyst) is a finance professional who analyzes companies' financial data and stock prices to make meaningful predictions about future performance. CPAs (certified public accountants) are often responsible for compiling the financial data CFAs then analyze.