Who is Certified Financial Planner (CFA)?
A Certified Financial Planner (CFP) is a professional designation awarded to individuals who have met specific education, examination, experience, and ethical requirements in the field of financial planning. The CFP designation is recognized internationally and signifies a high level of competency, professionalism, and ethical standards in financial planning.
Key Characteristics of Certified Financial Planner:
- Certified Financial Planners provide comprehensive financial planning services to individuals, families, and businesses.
- They help clients set financial goals, develop personalized financial plans, implement strategies to achieve those goals, and monitor progress over time.
- CFP professionals may offer expertise in areas such as retirement planning, investment management, tax planning, estate planning, insurance analysis, and risk management.
Difference between CFA and CPA
Certified Financial Planners (CFPs) and Certified Public Accountants (CPAs) are well-respected experts in the financial sector, they have different specialties and perform different functions. CFPs concentrate on offering individuals and families full financial planning services, whereas CPAs specialize in accounting services including auditing, tax preparation, and financial reporting for different customers.