Earning the CFA designation takes at least three years. Candidates can take only one test a year and must pass three of them to qualify for certification.
The percentage of candidates who pass the test ranges from 50% to 65% each year, says AIMR spokesman Rich Wyler. It takes the average candidate four years to earn certification.
CFP Board Names Consumer Advisory Council Members
The Certified Financial Planner Board of Standards (CFP Board) has appointed nine members to its Consumer Advisory Council.
Appointed to two-year terms on the 10-member council were: Jan Black, CEO, Everywoman‚s Company/Pro-ject Green Purse; Don Blandin, president, American Savings Education Council; Denise Voigt Crawford, commissioner, Texas Securities Board; Carol Davis, president, Coalition of Black Investors; Craig Hoogstra, manager of financial products, AARP Services Inc.; Brent A. Neiser, director of collaborative programs, National Endowment for Financial Education; Gary Phoebus, vice president of member benefits, National Education Association; David Wray, president, Profit Sharing/401(k) Council of America, and Susan Wyderko, director, Securities and Exchange Commission‚s Office of Investor Education and Assistance.
The council, which is chaired by Rosella Bannister, a member of the CFP governing board, advises the CFP Board on consumer issues and had its first meeting in March.