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ChFC or CFP? And why? Also, take in consideration not having a Bachelors

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Prior to 2008, you did not need a bachelor's degree to earn CFP, so advisors with a tenure longer than 2005 (need 3 years experience back then to qualify) had an opportunity to earn the designation without a college degree. The CFP board is trying to bring the financial planning profession up to a standard similar to CPAs. I do think an art degree is a foolish qualification for the bachelor degree requirement as the education should fit the profession. CPAs need credit hours in accounting which makes sense to me. Planners should need credit hours in financial realm. Sorry to be the downer in the thread. I do hold a CFP designation but don't see it as the reason I gain or lose a client. Being knowledgeable and proving to you clients you care is much more important, IMO. That being said, ChFC is a solid second. Curriculum is very similar. Best wishes and study hard.

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I agree with WA1 but I think a bachelor's is a prerequisite for the CFP.

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Doesn’t quite help the debate but I am currently studying for the ChFC as the CFP is not option for me as I don’t hold a bachelor’s degree either. It kills me that someone with a degree in art history can obtain the CFP but in my case I can not with over 10 years of experience and a prior career in the military. The CFP board needs to loosen up the standards. All that being said, I have enjoyed the material of the ChFC and I have learned some things along the way. Without a doubt though, the CFP carries more recognition with the general public.

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I agree on the art history but one of the things that has made the CFP prestigious is the degree requirement. I think tho the lack of a degree requirement for the ChFC speaks volumes for it.

CFP no question. It is the only designation that means anything to the public. Also, the requirements and the test itself is actually a good measure of financial planning competence.

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Have to finish that BA/BS from an accredited institution to do the CFP

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I'd like to thank each one of you for your inputs. I truly appreciate the feedback

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CFP, all day

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Cfp

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From the perspective of someone who works closely with advisors, and has a CFP on staff, I would say get your bachelors and then your CFP. More work obviously, but the ChFC isn't even comparable. I am surprised all designations and licenses haven't upgraded their standards to require a bachelor's degree or a certain amount of credit hours like you see for CPAs for example.

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Missouri State University has a 100% online Finance degree program and they are associated with the CFA institute. They have a CFP degree as well but I believe one or two classes need to be taken in person. $310-ish per credit hour.

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Ideally, the CFP. Better branding and marketing to the public. But ChFC is good second choice.

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CFP makes good sense, that should be the priority... But it will take a while, with significant time/study. In the short term take the AIF, you will learn the principles of serving as a fiduciary and get started on the track with your practice and presenting yourself to clients in that capacity.

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Well if you don't have a bachelors it rules out the cfp. If you get your chfc you can always challenge the exam for the cfp. Meaning you do not have to sit for any additional education. So your best course take the chfc get your bachelors and then challenge the exam and get your cfp. Wish you the best of luck!

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