Designations and Disclosures
Last Updated: November 11, 2022
Cook Wealth, LLC is a registered investment advisor with the U.S. Securities and Exchange Commission.
- CERTIFIED FINANCIAL PLANNER™ (“CFP®”)
- Chartered Financial Analyst™ (“CFA”)
- Certified Public Accountant (CPA)
- Financial Paraplanner Qualified ProfessionalSM (FPQP®)
CERTIFIED FINANCIAL PLANNER™ (“CFP®”)
The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP® (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP® Board”).
The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 71,000 individuals have obtained CFP® certification in the United States.
To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:
- Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP® Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP® Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;
- Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;
- Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and
- Ethics – Agree to be bound by CFP® Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.
Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:
- Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and
- Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients.
CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP® Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.
Chartered Financial Analyst™ (“CFA”)
The Chartered Financial Analyst™ (“CFA”) charter is a professional designation established in 1962 and warded by the CFA(R) Institute. To earn the CFA(R) charter, candidates must pass three sequential, six-hour examinations over two to four years. The three levels of the CFA(R) program test a wide range of investment topics, including ethical and professional standards, fixed-income analysis, alternative and derivative investments, and portfolio management and wealth planning. Also, CFA(R) charter holders must have at least four years of acceptable professional experience in the investments decision-making process and must commit to abide by, and annually reaffirm their adherence to the CFA(R) Institute Code of Ethics and Standards of Professional Conduct. CFA(R) is a trademark owned by the CFA Institute.
Certified Public Accountant (CPA)
All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. While the exam is the same no matter where it’s taken, every state/jurisdiction has its own set of education and experience requirements that individuals must meet.
Financial Paraplanner Qualified ProfessionalSM (FPQP®)
The Financial Paraplanner Qualified ProfessionalSM, or FPQP® program is designed for financial professionals and support staff to deepen their knowledge of financial planning.