Wealth Management Associates

Certification or Licensing

Many employers require applicants to have (or currently be pursuing) the certified financial planner (CFP) or chartered financial consultant (ChFC) credentials. To receive the CFP mark of certification, which is offered by the CFP Board, candidates must meet education and experience requirements, pass an examination, and agree to follow the CFP Board’s Code of Ethics and Professional Responsibility, Rules of Conduct, and Financial Planning Practice Standards. The American College of Financial Services offers the ChFC designation. To receive this credential, candidates must complete certain course work stipulated by The American College, meet experience requirements, and agree to uphold The American College’s Code of Ethics and Procedures.

Several other organizations offer certification to financial planning professionals, including:

• Association for Financial Counseling and Planning Education (accredited financial counselor)
• fi360 (accredited investment fiduciary, accredited investment fiduciary analyst, professional plan consultant)
• Institute of Business and Finance (certified fund specialist and certified annuity specialist)
• Investment Adviser Association (chartered investment counselor)
• Investments & Wealth Institute (certified investment management analyst, chartered private wealth advisor).

Associates are usually required to obtain their Series 7 and Series 63 or 66 credentials from the Financial Industry Regulatory Authority, the self-regulatory arm of the investment industry. The Series 7, or General Securities Representative certification, allows you to buy or sell, or solicit the purchase or sale, of all securities products, including corporate securities, municipal securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts. It’s the most basic form of certification for anybody involved with the markets. The majority of firms will also require a Series 63 registration, which requires knowledge of state securities laws and allows you to be a securities agent. Other firms may require the Series 66, which covers the same ground as a Series 63, but also certifies you to act as a registered investment adviser.