How Long Does it Take to Complete the CFP® Certification Process?

Earlier this week, “BigA” asked in part:

For those of you with your CFP, was the turnaround from exam pass notification this slow? 

Here is the complete comment from November CFP® Certification Examination Results Mailed:

I submitted my education and experience requirements in Dec 2007. The letter from the board indicates 20 business days (aka a month) of processing time.  I called the Board to ask if this is 20 days from when they got it or 20 days from 15 January 2008 (the date on the letter they sent us).  I was told, 15 January.  You think the wait ends then.  Nope.  I was told that assuming those documents are in good order, then they will request a background check from FINRA/SEC which could take 4-6 weeks.  So here is the time line.  By 15 February you should know if your education/experience requirements are completed.  Then around mid to late March your background check should be complete.  Wow.. is that crazy or what? For those of you with your CFP, was the turnaround from exam pass notification this slow?  Patience is a virtue that I hate to harvest…

I’m going to list my experience as a guide to others looking for more information on how long the official certification process may take.

Step 1: Getting Results

Waiting for exam results is an agonizing experience, judging by the number of comments and requests posted here at FPPad.  Fortunately, CFP Board has recognized the need for better communication and has started posting exam updates to its website (See CFP Board Proactive Exam Communication). 

From the date of the exam, candidates can wait about 8 weeks for the delivery of the results from CFP Board via First Class mail.  A week later exam results are posted to the CFP Board website.

Step 2: Work Experience Reporting

If a candidate successfully passes the exam (congratulations!), s/he will need to complete the Work Experience Reporting forms that arrive in the packet of information.  Also, CFP Board includes a Request for Official Transcript form to obtain proof of a bachelor’s degree from an accredited college or university.  Form copies are below, and yes, they’re low resolution because you’re going to have to get forms of your own after passing!

My advice: fill out these forms as quickly as possible and return them to CFP Board, as I suspect the review process is very much First In, First Out (unless there are hang-ups in the work experience review process).

CFP Board says to wait about 20 business days from the date of mailing to receive and process the forms.  This was about right for my own verification, as I received an email confirmation about 4 weeks after sending the completed forms.

Step 3: Ethics Agreement

After the forms are processed, candidates will need to complete the ethics requirement.  This is done online on CFP Board’s website, where CFP Board’s Standards of Professional Conduct appears under the user’s account profile.

And let’s not forget that this is the time to pay the non-refundable, pro-rated certification fee and $100 initial application fee.  Get your credit card ready!

Step 4: Certified!

Finally, after completing all these steps, it takes CFP Board about one additional week to verify the fee payment and ethics agreement.  The candidate will then receive an email from CFP Board indicating that s/he is now certified by CFP Board and may begin using the CFP(R), CERTIFIED FINANCIAL PLANNER(tm) and federally registered CFP (with flame design) certification marks.

 

Two weeks later, a CFP Board ID card should arrive in the mail along with a 8 1/2″ x 11″ CFP Board certificate.

In total, it takes about three and a half to four months from the completion of the exam to receive official certification from CFP Board.

I hope this explanation is a useful guide for those that are curious how long the total process takes.

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11 Responses to “How Long Does it Take to Complete the CFP® Certification Process?”

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