The National Association of Personal Financial Advisors starting January 1 will require the CFP designation for those accepted as its registered financial advisors.
The Napfa National Board recognized the need to support the financial planning profession by selecting a singular professional designation in the same way the public trusts that those holding a CPA, MD, or JD are meeting education, training and ethics requirements, the association said.
“Napfa’s decision to support the broader recognition of a single, defining designation for the financial planning community just makes sense. Less confusion means more consumer confidence, and the CFP designation hits the mark as a strong, baseline standard,” Napfa Chair Lauren Locker said in a statement.
Kevin Keller, CEO of the CFP Board, said, the Certified Financial Planner Board of Standards applauds the Napfa’s decision to make CFP certification a requirement of membership starting next year. “Napfa has been a strong strategic partner with CFP Board in advocating policies in support of competent and ethical financial planning,” Keller said.
With more than 2,400 members across the country, Napfa is a U.S. professional association dedicated to the advancement of fee-only financial planning.