Resources for Parents, Partners and Spouses
YOU'RE THE GREATEST RESOURCE FOR THE STUDENT
The greatest resource a student can have is a parent, partner or spouse who is both caring, supportive and compassionate. Where your knowledge of financial matters is limited, turn to us for capable, competent help.
WHERE TO TURN
There are many in the world today that claim expertise in personal finance. Almost anywhere you turn, from the internet, to the bank, to the insurance company, to a broker (mortgage or otherwise) there is great confusion and much competing, even conflicting information about personal financial planning. Until recently, topics concerning personal finance were not taught in public schools nor are they given much more than cursory attention at most institutions of higher learning. So where would one get unvarnished, unbiased financial information in an atmosphere in which your needs and concerns are first and foremost?
Though the answer is not perfect, the Center argues that the CERTIFIED FINANCIAL PLANNER™ practicing professional (FIND A CFP®) , is the best source for the consumer to turn for personal finance advice. This we believe for at least the following reasons:
- The CFP® is one of only two ultimately credible professional designations for financial professionals (and there are many, many designations on the street as you may be aware). Obtaining the certification and maintaining use of the marks require a candidate to measure up to stringent experience, education, comprehensive testing, continuing education, ethics and other essential requirements. The CFP® is the only independently accredited professional designation in service today.
- In the realm of personal finance and financial planning the CFP® is by far the most difficult designation to obtain and arguably the most demanding to retain on an ongoing basis. The coursework, broad based and extensive, favors a comprehensive approach to planning- not the promotion of any particular product type.
- The CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS also requires a comprehensive, two-day, ten-hour examination, on par with the CPA exam or the BAR exam in the accounting or legal professions. The level of competency required to pass the examination is considerable. Incidentally, it is the only professional designation for financial professionals requiring a comprehensive examination covering the majority of all relevant, underlying subject matter. Wouldn't you prefer to work with someone who has demonstrated the ability, beyond the self-proclaimed, self-taught realm in personal finance in which one knows how the pieces fit together under the purview of an independent body such as the CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS?
You can rest assured that, on balance, the CFP® will be better educated, less biased than other so-called "financial professionals." Even more importantly, the CFP® has taken upon himself/herself the obligation to practice according to a FIDUCIARY STANDARD. That means that the CFP® is required (in all cases) to act in your best interest. A similar Code of Ethics and Professional Conduct exist in the medical, legal and other professions.
Please visit the CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS for more information regarding both this designation and how you might locate one in your area. Once you have located a few within your area, interview them and take an opportunity to determine whether their particular personality and approach to the process of personal financial planning seems compatible and in alignment with your personal goals and objectives. Turning elsewhere for financial advice simply leaves too much to chance.
