Becoming a CFP®: A Journey Through the Forest, Not a Walk in the Park

I have been preparing some remarks for an address I am making for students about careers in personal financial planning. Based on a comment my wife made about the CFP® marks being more important than I realize, I thought it may be prudent to share some information.

I earned my CFP® certification back in 2020, and every so often someone asks me, “So what did you have to do for that?” They usually assume it’s just a long test and maybe a fancy frame for the wall.

It's not - although I did get a fancy frame for the wall.

Becoming a CERTIFIED FINANCIAL PLANNER™ professional, and staying one, is a multi-year commitment to education, ethics, experience, and ongoing accountability. It isn’t a one-and-done achievement. It’s a continual promise: to act in the best interests of clients, to stay sharp, and to never stop learning.

Here’s what it actually takes.

The Education - More Than Just a Class or Two

The first step is completing a comprehensive financial planning curriculum from a CFP Board-registered program. This isn’t just, “Hey, I watched a webinar.”

We’re talking:

• Tax planning

• Retirement planning

• Estate planning

• Investment management

• Insurance and risk management

• Behavioral finance

• Professional conduct and fiduciary ethics

  
  

And the part most people forget: you also need a bachelor’s degree - any major works, but you must have it to become certified.

There are now multiple universities offering concentrations in Personal Financial Planning. When I went through this process, there were a lot less.

The Exam - It Sucks

After the education comes the infamous CFP® exam. It’s an eight-hour marathon split into two sessions.

It’s not a simple memorization exercise. It evaluates your ability to apply financial planning concepts the way real clients need them:

• “Here’s a messy financial situation… now solve it.”

• “Here’s a tax dilemma… what’s the most appropriate strategy?”

• “Here are competing goals… which one takes priority and why?”

  
  

The CFP® Board writes questions that force you to think like a planner, not a student.

The Experience Requirement - Real Work with Real People

Next comes the experience requirement:

• 6,000 hours of relevant financial planning experience, or

• 4,000 hours under the Apprenticeship Path, which requires direct supervision from a CFP® professional.

  
  

Those hours aren’t busywork. They’re hands-on experience with:

• Meeting with clients

• Building financial plans

• Making recommendations

• Performing investment research

• Understanding real-world client behavior

  
  

This is where you learn that money isn’t just math - it’s emotional, relational, and personal. The textbooks can’t fully prepare you for someone crying in your conference room because they finally feel hopeful about retirement.

It’s actually an awesome feeling. My favorite part of the job is providing clients with the clarity to understand the impact of their life-long commitment to save for their retirement.

Ethics and the Fiduciary Standard - Every Day

Before certification, you must pass a background check and agree to uphold the CFP Board’s Code of Ethics and Standards of Conduct.

The part that matters most - CFP® professionals are required to act as fiduciaries when providing financial advice.

That means putting clients’ interests ahead of your own, every time. No exceptions, no fine print.

It also means things like:

• Transparent fees

• No hidden agendas

• Clear communication

• Acting with integrity, fairness, and competence

  
  

Being a fiduciary isn’t something you do once. It’s who you are, every day you serve clients.

Maintaining the Certification - The Learning Never Stops

Once you’re certified, you don’t get to coast. Every two years, CFP® professionals must complete 30 hours of continuing education, including:

• 2 hours of CFP Board-approved ethics training

• 28 hours of additional CE on financial planning topics

  
  

This ensures that planners stay up to date on ever-evolving laws, strategies, and best practices - because financial planning changes constantly. Tax laws shift, markets evolve, new planning tools emerge, and what was “best practice” ten years ago might not cut it today. This is often in addition to other continuing education that certain licenses require.

Keeping the marks means staying sharp, staying current, and staying accountable.

The Sherwood Difference

The CFP® marks aren’t just letters at the end of a name. They’re a signal to clients that:

• You’re working with someone who has met rigorous standards

• You’re getting advice rooted in real knowledge and real ethics

• Your planner is committed to acting in your best interest

• You’re not being sold a product — you’re being guided through a process

  
  

When someone works with Sherwood Wealth Management, I want them to know they’re getting more than investment help or a few spreadsheets. They’re getting advice from someone who has invested years into being qualified, ethical, and accountable — and who continues that work every year.

Becoming a CFP® professional changed my career — and honestly, it changed how I approach helping people.

The process requires effort, discipline, humility, and a willingness to keep showing up. But that’s the whole point: clients deserve someone who takes this work seriously.

Being a fiduciary isn’t a badge you earn once. It’s a responsibility you renew every day.