{ "media_type": "text", "post_content": "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?", "post_id": "5b976fcdc04a973a5f254be2", "reply_count": 12, "vote_count": 2, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

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?

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Professional Designations are like colleges. Few are recognizable. Unless it says CFP, MBA or PhD., (the Harvard equivalent) they are more so decorations next to your name and mean little to create a competitive advantage on their own.

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CPA and CFP, I avoid the "let me ask my CPA", I just tell them and they do it

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EA, MBA for me, EA, PhD and MS in Accounting for husband. Currently we both are in a CFP program. EA's for our tax business. Others make us better at what we do but clients don't care. Starting the CFP was a defensive measure when it looked like DOL was going to set credential standards.

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CIMA. I’m glad I have it but I doubt it’s getting me any new clients. If your young and in growth mode, I think a designation is probably a necessity

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I have a designation -CRPC. I’ve been in business for 23 years. In all that time, I’ve had maybe 10 clients ask me about a CFP and none have asked me—clients and prospects—in the last 3 or 4 yrs. Some have asked if I am a fiduciary. Yes is the answer. But letters of the alphabet no and I have never felt the need

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CRPC & CDFA. I think clients like seeing that you’ve dedicated extra time and effort to perfect your craft

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I started with the CRPC, which was a good intro to the CFP, which I found useful. The CFP is great and much more in depth which I highly recommend. The AIF was pretty good as well. I think the AIF is marketable in an environment where we’re seeing more and more people ask for fiduciaries. The AIF is really good for implementing best practices into your firm. I took the AWMA, which I thought was useless after the CFP, but it got me more credits towards a master’s. Lastly, I have my eyes set on the CPWA, which I hear is great and useful day to day.

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CFP. I don’t think clients care about any of it

CFP, I do have prospects asking for it or asking for a fiduciary relationship. Still less than 25%, but significantly higher than pre-DOL. I doubt I've ever won business for either. Clients want to trust you. A credential just shows you passed a test, do CE and pay the ever increasing renewal fees.

I have none

I currently hold AIF and considering doing CFP next year.

CWS here. Is that ridiculous to say?

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