You may have wondered at some point in your life what the different letters behind a person's name meant.  If you are or were a professional, you know that the letters represent a certain expertise or rather, a form of higher learning: Attorney's use Esq., which is an abbreviation for Esquire (gentleman); Medical Doctors use M.D. (abbreviation for the same words); and Doctors of Philosophy use Ph.D. (abbreviation for "philosophy doctor").

The same is true for financial planning professionals.  CFP® is short for Certified Financial Planner™. A CFP® demonstrates his or her professionalism by voluntarily submitting to rigorous testing by the Board of Certified Financial Planners.  The certification process requires Extensive Education, Examination, Experience, and Ethics. CFPs® must pass a two-day, 10-hour test before being certified.  Every two years they must complete a minimum of 30 hours of continuing financial planning education.

Not all financial planners are certified.  Anyone can call him or herself a "financial planner."  Only financial advisors who have fulfilled the CFP Board's certification and renewal requirements can display the CFP certification marks.  This certification should provide you with a sense of security that the person you have chosen as your financial advisor is competent and ethical.

Your needs are in the forefront when you work with a CFP®.  You and your needs drive the CFPs® recommendations-not commissions.

Expect a CFP® to follow six steps in your financial planning process:

          ♦ Establishing and defining the client-planner relationship

          ♦ Gathering client data, including goals and finances

          ♦ Analyzing and evaluating your financial status

          ♦ Developing and presenting financial planning recommendations and/or alternatives

          ♦ Implementing the financial planning recommendations

          ♦ Monitoring the financial planning recommendations

The benefits of working with a CFP® as your financial planner should be obvious.  The CFPs® advanced education enables him or her to give you a well-rounded financial planning approach. The CFP Board's rigorous testing and oversight processes should give you a strong sense of security and that you can trust your chosen Certified Financial Planner™