Many financial planners have voluntarily undergone training and met various requirements for specific professional certifications. Often, relevant work experience is required. Here are some Financial Planner Professional Certificates that these dedicated individuals earn.
Certification: Accredited Estate Planner
Description: Estate Planning
Website: www.naepc.org
Certification: Accredited Financial Counselor (AFC)
Description: Financial Counseling and Money management
Website: www.afcpe.org
Certification: Certified Financial Planner (CFP)
Description: Best Known Certification
Website: www.cfp.net
Certification: Certified Trust and Financial Advisor (CTFA)
Description: Trusts and Taxes
Website: www.aba.com
Certification: Chartered Financial Consultant (ChFC)
Description: Financial planning in Insurance & estate planning
Website: www.theamericancollege.edu
Certification: Chartered Life Underwriter (CLU)
Description: Life Insurance
Website: www.theamericancollege.edu
Certification: Chartered Mutual Fund Counselor (CMF)
Description: Mutual Funds
Website: www.cffpinfo.com/cmfc.html
Certification: Investment Advisor
Description: Stockbroker managing less than $100 million
Website: www.nasaa.org / www.finra.org
Certification: NAPFA Registered Financial Advisor (NRFA)
Description: Source for fee-only financial Advisors
Website: www.napfa.org
Certification: Personal Financial Specialist (PFS)
Description: Personal financial credential for CPA’s
Website: www.aicpa.org
Certification: Registered Financial Associate (RIA)
Description: Granted only to recent graduates of approved collegiate programs
Website: www.iarfc.org
Certification: Registered Investment Advisor (RIA)
Description: Stockbroker managing more than $100 million
Website: www.sec.gov / www.finra.org
Side Note: What to Know about the Roth IRA
If you earn an income, you can open a Roth IRA. A Roth IRA is an after-tax, nondeductible IRA that provides significant tax and retirement planning benefits.
Contributions to Roth IRAs are not deductible, but the funds grow tax-free. Withdrawals are tax-free if used for qualifying first-time home buyer costs and medical or educational expenses.