{ "media_type": "text", "post_content": "Considering becoming a CFP and CFA but I’d like to know what the job market looks like. For those of you who are practicing, how long were you searching for a job and are you satisfied with your experience thus far?", "post_id": "6101f8cc558c300024219ee2", "reply_count": 14, "vote_count": 1, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

Considering becoming a CFP and CFA but I’d like to know what the job market looks like. For those of you who are practicing, how long were you searching for a job and are you satisfied with your experience thus far?

like
Posting as :
works at
You are currently posting as works at

If you’re client facing, a CFA probably isn’t the route to go. CFP if you’re newer in the business. If you’re a seasoned veteran it is nice to have but unlikely to add additional revenue to your bottom line.

likehelpful

CFP is all you need if you want to be an Advisor, If you want to go deeper into the investment that's the CFA i don't think it helps a ton in the planning process.

like

Way overkill for my advisory roles unless your in UHNW or institutional, CFP is all retail clients will know

They will both take you years to get.

CFP shouldn't take more than a year to complete coursework and exam, especially with how frequently the computer exam is offered now. They do still have the 3 year experience requirement, and bachelor's no longer counts for one, but if under the supervision of a current CFP can knock a year off.

I know hundreds of financial advisors, and only about 5 of them have their CFA. Probably 15-20% of them have their CFP. If you are wanting to be client facing as an advisor, go the CFP route. If you are wanting to manage money or do research, and not be client facing, the CFA is what you need. Like others have said, they are two completely different career paths. Typical CFP career is working with clients as an advisor. Typical CFA is researching specific investments, perhaps working with a mutual fund company or with the asset management department of a large brokerage. Obviously people can deviate, but that is pretty typical. Hope that helps.

RJ1, I used to work in IT at RJ. Would you be open to connecting offline and talking more about your experience?

With turnover in the industry, firms are constantly hiring. For most client-facing advisors, CFP is more recognizable and practical, as it demonstrates proficiency in a broad range of planning topics. From the CFP you can easily add insurance (CLU), planning (ChHC) and other designations as there's a fair amount of overlap in required coursework. It's also far easier to obtain than the CFA which is in investment analyst specialization, though both have become easier to obtain in recent years. I'd likely recommend starting with the CFP, and if you're working with UHNW clientele and personally doing portfolio management considering the CFA. CIMA ("CFA-light") is an alternative to the CFA that is less time-intensive if you're interested in an investment specialization designation.

Related Posts

I already am a CFP, now thinking about getting the RICP. Who has it? What's the study time required?

like

Does anyone know of a good CPA and or CFP in silicon beach?

like

Out of curiosity, what designations do you have? CFP, CFA, CIMA, ChFC, etc. Do you feel that your having, or not having, a designation has put you at an advantage/disadvantage?

like

The first CFP is a bunch of bull crap! Georgia over Alabama. All of the Big Ten getting shafted. WHAT GIVES??!!

like

For my FAs who are also CPAs (or anyone who knows I guess 😊) - do you know if there is a way to simultaneously get your CPE for the CPA while also preparing for the CFP? Continued in comments...

like

Does anyone have any resources for free ethics training for CFP requirements?

like

I am taking the CFP exam in July. I currently have my RICP but I struggle with how to market the designation. I’m fearful that I will have the same problem with the CFP. What do you do to show people you have these designations aside from having the letters after your name? @

like

Thinking about Ken Zahn for CFP review? Better than Dalton?

like

Any one use Kaplan to prep for the CFP? I used it for series 7 and 66 and it worked. Just curious if anyone has used it.

like

Just finished the CFP exam and feel like I absolutely bombed it. Is that normal? Every question had 2 legit answers. Brain is absolutely fried. Bourbon and cigar, please

like

*** CFP Prep Materials *** Is anyone interested in purchasing CFP prep materials? I have Dalton study materials including their course books, their review study books as well as their flash cards.

like

If I'm looking to have the CFP completed 12-18 mths from start date, what would be a solid prep course/program you guys would recommend? Any pref to online classes vs. in-person classes?

like

Does Kaplan's MS in Financial Planning prepare you to sit for the CFP?

like

I’m a CPA/FA and want to sit for the CFP exam. When I took the CPA I used CPAExcel and I loved it bc it broke down the material into “bite sized” lessons. Anything like that for CFP? Continued..

like

Relocating to Columbus, OH area. Would prefer to transition to Independent. Have over 5 yrs as lead advisor experience and cfp. Could probably transition 4-5m and help with existing book.

like

I've done parts of the CFP but couldn't sit for the exam. I am thinking about finishing the requirements to sit, but I am wondering if my time would be better spent prospecting. Thoughts?

like

Anyone believe CFP's do a better job than non CFP? Or is it mostly a marketing plan?

like

Anyone use Kaplan for their CFP prep? What were your thoughts on it...

Does anyone here hold a non-CFA designation (CFP, CAIA, FRM etc.) and what kind of role/position do you have?

like

Additional Posts

Not sure if I’m just venting or asking for advice. With the current situation with COVID19, I am no longer traveling every week for work. I’ve come to realize that my husband (CONT)

like

Key West vs Miami for a baby moon in December / January? Any Marriott recommendations for a low key getaway in either location?

like

🙋‍♂️Raise your hand if you think you’ve had COVID but never tested positive or tested positive for antibodies in the last 8 months.

like

Attorneys with the firm often send firm-wide emails advising of in house openings with a corporate client, and solicit recommendations or resumes of qualified candidates. Usually the client contact is a hiring manager for the position. How do I show interest without completely shooting myself in the foot? While I ultimately do want to exit the firm, I also don’t want to be openly broadcasting my intent to leave by telling the firm attorney(s) that I’m interested. Thoughts?

like

Best or worst lunch expense? - $7.93 White Castle

likefunny

If I eat a pint of Ben and Jerry's Milk and Cookies ice cream every night but eat 100% healthily otherwise and exercise moderately, is that ok for my health? My life is in your hands.

like

I often see posts about people getting 350K exit or 450K or more in FAANG. Are those strategy folks from Big 4 or are there cyber folks too getting these exits ? I am making close to 200k as M3 in cyber . Not able to anything that would pay more than this in non-consulting ? What roles should I target ?

like

How does everyone feel about Wharton invites coming out tomorrow? Anyone have any insight to how the interview process goes, if selected?

like

Looking to make move to Big 4... Anyone have salary for experienced manager at Big 4? What are hours like? Responsibilities?

like

Do you think Apple and Amazon fight over who's the first A in FAANG like BCG and Bain over MBB?

likefunny

I have a standing offer with Accenture (AFS). Due to coronavirus, the recruiter told me they are pausing staffing of external people like myself while they take care of internal people on the bench. My recruiter said he would touch base monthly during covid, but usually I’m the one to reach out to him. We haven’t spoken since mid March, so should I reach out? I totally understand if they’re still in the same position as before and nothing changed since mid March in terms of hiring.

like

Flying for personal reasons this weekend and the Delta flights I have been on lack any sort of urgency to get us to the destination. Is this normal at Delta or during non-business hours in general?

like

IT specialist salary - NYC?

like

Rant: apply for job online. Job emails me with 7 questions as "next steps", one of which is salary. I email back. They email back (at 9pm mind you) "we can't meet your salary expectations"...

like

How’s the consulting work life balance at Big 4 in Europe Do folks work more than 45 hours through the week and is it normal to have to work on weekends?

like

Looking for mentors in FAANG, MBB, and other Big 4. DM me please. 😀😀

funnylike

Anyone know of a natural hair stylist in the CLT area?

Lately I’m becoming more frustrated that I’ll never be able to buy a house out here despite making a good salary. And with my job, I can’t move somewhere affordable and be fully remote. Anyone else?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal