YOUR GUIDE TO THE CFP® CERTIFICATION PROGRAM

SET YOURSELF APART

Your commitment to a world-class professional code and best practice financial planning places you at the forefront of a growing profession.

The Financial Planning Association (FPA) is the premium professional association for financial planners in Australia and the only association licensed to deliver and administer the CFP® designation.

The CERTIFIED FINANCIAL PLANNER® designation is the highest designation for financial planners globally.

As a CFP professional, you join a growing community of over 5,600 CFP professionals in Australia and 181,000 globally.

“Completing the CFP® Certification Program has allowed me to demonstrate my commitment to the ongoing education and high ethical standards that the profession strives for.”

Raquel Netto CFP®

ABOUT THE CFP® DESIGNATION

The CFP® mark represents a symbol of trust and mark of excellence. To your clients, it will provide reassurance that you work to the highest professional and ethical standards. Always putting their interests first.

The FPA invests heavily in promoting the value of financial advice

from a CFP® professional. As more and more Australians know where

to look for high quality advice, your designation will become your

platform for a sustainable financial planning career.

NEW ADMISSIONThe best way for us to learn about your personal circumstances and get you on the right path, is to complete

the new admission online application. Through this service, you’ll find out more about your personalised

pathway. Once successful, your place in the program is guaranteed. To get started, visit www.fpa.com.au/cfp.

TALK TO USIf you’d prefer to start by asking us more questions about the CFP® Certification Program, we’d be delighted

to help. Simply contact us on 1300 337 301 or email us at education@fpa.com.au.

BE RECOGNISED AS A BEST OF BREED FINANCIAL PLANNER

The FPA Code of Professional Practice represents a world-class

professional framework and standards that go far higher than those

set by regulators. By default, adherance to our Code provides you

with the ability to self-regulate and ‘de-risk’ your advice.

FUTURE-PROOF YOUR ADVICE

The FPA is a respected voice with Government and other key

stakeholders. As a CFP practitioner member, you will have voting

rights and countless channels whereby you can help us shape the

future of your profession. This is your time to shine.

SHAPE THE FUTURE OF YOUR PROFESSION

Your CFP designation will literally open doors. Statistics show that

CFP professionals earn $65,000 per annum more than other financial

planners.* And if you decide to work abroad, your designation goes with

you. CFP certification is recognised in 26 countries.

SECURE YOUR PROFESSIONAL DIVIDEND

HOW TO APPLY

* Source: fpa.com.au/2015-member-satisfaction-survey-result

ABOUT THE CFP® CERTIFICATION PROGRAM

A MODERN DAY PROGRAM FOR FINANCIAL PLANNING

The CFP Certification Program is unlike any other. Each and every unit has been designed by some of Australia’s

most respected and experienced financial planners and academics. The content has been developed and is

regularly updated, to ensure it remains relevant to current financial planning practice and the ever changing world

of legislation. It will also empower you with modern and thought-provoking strategies to help you deliver leading

edge advice to your clients.

During the program, you’ll be assessed on your competencies, knowledge and capabilities as a professional. The

successful completion of the program demonstrates that you have met technical competency and exceptional

standards across the Four Es set by the Financial Planning Standards Board (FPSB) – Ethics, Education,

Examination and Experience.

CFP 1: FPA PROFESSIONALISM

CFP 2: APPLIED STRATEGIES 1

CFP 3: APPLIED STRATEGIES 2

CFP 4: INVESTMENT STRATEGIES

CFP C: CERTIFICATION

The CFP Certification Program is split across five units.

Each unit is designed to advance your existing knowledge

and expertise, and ensure you meet the standards of

excellence required for the designation.

Students are usually in full-time employment and are busy

with personal commitments. Therefore, we structured the

program in a way that provides flexibility and freedom.

The annual program intake includes two semesters and a

summer semester. We recommend enrolling into one unit

per semester, so that you can manage your study time

around your existing commitments. Typically, the program

takes 2-3 years to complete.

CFP 1 - CFP 4 require approximately 10 hours of study per

week. The CFP C unit will require a minimum of 10 hours

of study per week.

PROGRAM STRUCTURE

Compulsory units

Advanced standing can apply

In order to enrol onto the CFP Certification Program you must have 12 months’ minimum relevant industry

experience or have completed a higher education program approved by the Financial Adviser Standard and

Ethics Authority (FASEA). We do understand that each student’s pathway is different and you may not fit

into the road map. To discuss your individual circumstances, contact us at education@fpa.com.au.

ENTRY REQUIREMENTS

ADVANCED STANDING

Recognition of prior learning for CFP 2-4

Academic Credits may be available for CFP 2, CFP 3 and CFP 4 or a combination.

• If you are a member of CPA Australia/Institute of Chartered Accountants in Australia and you have

completed their professional financial planning specialisation education requirement and hold the

designation.

• Students who have completed FASEA-approved Financial Planning postgraduate programs. A list of pre-

approved courses are available on our website.

• Students who have completed post graduate studies in Financial Planning, and the course is not listed on

our Approved Degree List. In such case, you can apply for a transcript review.

• If you have successfully completed the Certified Investment Management Analyst (CIMA) certification, and

hold the designation. (CFP 4 only)

• If you have successfully completed the Certified Financial Analyst (CFA) certification and hold the

designation. (CFP 4 only)

Please note, there is no advanced standing for CFP 1 or CFP C.

Advanced standing (credit) and recognition for prior learning will be given for relevant learning completed within

a period of 10 years.

Advanced standing for further study

Some education providers will allow you to count CFP Certification units towards a Masters as “cross credits’. This

means that if you complete the CFP Certification Program with us you may be granted advanced standing for

further Masters level study at university.

Please visit www.fpa.com.au to see our Approved Degree List for further information.

THE PROGRAM

The FPA is the only professional body in Australia licensed to deliver the CFP Certification Program. As part of our

licensee agreement with the Financial Planning Standards Board, we must ensure that the high standard of this

global designation is maintained, and that the CFP marks are used correctly. Put simply, it is our role to protect

the designation in Australia. There are currently over 175,000 CFP professionals worldwide, and over 5,600 in

Australia. The designation is recognised in 26 countries, and therefore in some ways, is transportable.

To achieve the designation, you’ll need to meet the FPA Professional Standards Framework of the ‘four Es’:

Description Admission requirementsie. to enter the program

Designation requirementsie. to successfully complete the program and use the CFP mark

ETHICS Your capacity to make decisions in the best interest of your client and a formal commitment to ethical practice.

Current financial FPA member and committed to the FPA Code of Professional Practice.

Current financial FPA member and committed to the FPA Code of Professional Practice and successfully completed CFP 1.

EDUCATION The formal technical competencies, knowledge and capabilities required by the profession.

Approved degree ORAustralian finance degree & Diploma of Financial PlanningORNon-finance related degree or international degree & Advanced Diploma of Financial Planning ORAdvanced Diploma of Financial Planning & working towards a degree OR8 subjects from an approved Masters (Graduate Diploma in financial planning)

Successfully completed technical units CFP 2 - 4 or achieved Advanced Standing for CFP 2 - 4.

EXAMINATION The systematic and regular monitoring and testing of knowledge and capabilities to ensure your expertise is maintained.

Successfully completed the CFP Certification assessments including the examination.

EXPERIENCE The practical, on the job learning and skills development that confirms professional practice.

12 months’ minimum relevant industry experience or completed an FPA approved degree.

• Two years full-time (or part-time equivalent), client-facing AR experience within the last five years

• Four years full-time (or part-time equivalent) relevant experience that directly or indirectly support the financial planning process.

ETHICS EXPERIENCEEDUCATION EXAMINATION

PROGRAM OUTLINE

CFP 1FPA Professionalism

This unit provides the ‘building blocks’ to best practice financial planning and world class professional standards. As such, the unit is compulsory for all students.

Topic 1: Professionalism IntroductionTopic 2: Professionalism and EthicsTopic 3: The CFP® Practitioner: Client RelationshipTopic 4: The CFP® Practitioner: Stakeholder Relationship

CFP 2Applied Strategies 1

This unit is the first of three units on strategy development, a fundamental part of your role as a financial planner. You will learn to develop integrated strategies for each client and formulate recommendations based on the ethical and professional standards of the industry and regulatory framework.

Topic 1: Introduction to Strategy DevelopmentTopic 2: Applied StructuresTopic 3: Risk Management Strategies Topic 4: Debt Management StrategiesTopic 5: Salary Packaging Strategies

CFP 3Applied Strategies 2

This unit focuses on strategy development, relating to leaving the workforce. Whilst the unit covers superannuation and estate planning, you will also cover specific issues relating to clients leaving the workforce, pension and benefit strategies, plus strategies for expatriate clients too.

Topic 1: Leaving the Workforce: Issues and Strategies

Topic 2: Superannuation Strategies

Topic 3: Pension and Benefit Strategies

Topic 4: Estate Planning Strategies

Topic 5: Strategies for Expatriates

CFP 4Investment Strategies

This unit focuses on the development of investment strategies, based on the personal circumstances of your client. The topics within the unit cover a wide range of modern day strategies and the risks and benefits that come with each.

Topic 1: Advice Process of Portfolio Construction

Topic 2: Asset Allocation and Risk

Topic 3: Investment Strategies and Structures

Topic 4: Investment Managers and Products

Topic 5: Alternative Investments

Topic 6: Exchange-Traded Products

Topic 7: Applied Decision Making

CFP CertificationAssessment

Successfully completing the CFP Certification unit will verify that you have mastered the knowledge and practical application required to become an accomplished CFP professional.

This unit comprises:

1. a financial plan case study

2. a four hour multiple choice examination

3. supervised meetings with clients; and

4. a detailed record submission of your experience

ASSESSMENT SNAPSHOT

Below is a summary of the CFP Certification Program, which must be completed within four years from when you

first enrol into the program.

CFP 1 CFP 2 CFP 3 CFP 4 CFP C

Assignment Yes Yes Yes Yes Yes

Final weighting 100% 40% 40% 100% Must pass

Assignment length 6,500word count

5,000word count

5,000word count

5,500word count

55 pages(excludes

appendices)

Pass mark 70% 70% 70% 70% 75%

Examination Not applicable Yes Yes Not applicable Yes

Final weighting Not applicable 60% 60% Not applicable Must pass

Examination type Not applicableOnline multiple choice test and

open bookshort answers

Online multiple choice test and

open bookshort answers

Not applicable Open bookMultiple choice

Passmark 70% 70%

Observation Not applicable Not applicable Not applicable Not applicable Yes

Record of

Experience

* (One year practising as a financial planner)

Not applicable Not applicable Not applicable Not applicable Yes

CPD hours 30 hours 40 hours 35 hours 37 hours 34 hours

Timeframe 1 semester 1 semester 1 semester 1 semester 1 semester or 1 year

You can take CFP 1 to

CFP 4 in any order.

Before you commence

CFP C you must

successfully complete all

other units.

IMPORTANT

Our learning approach is designed to develop the advanced skills and

understanding required at a postgraduate degree level. To help achieve this,

our approach focuses on the following areas:

• Extension of existing and new learning through analysis of complex, modern-day case studies.

• The thinking processes involved in developing, selecting, presenting and reviewing client-focused, holistic strategies.

• Individual and independent research and reading, beyond your study material.

• Thorough analysis of essential issues and fundamental ethical

principles with a strong focus on compliance.

To complete the program successfully, you’ll need to bring your experience

and expertise to your studies, but also the motivation for self-directed and

autonomous learning. External research is the key to a successful result.

LEARNING APPROACH AND TOOLS

FPA Learn is our online learning platform. This will be the key to access your learning materials, chat rooms and where you submit assessments

FPA Learn offers a range of support mechanisms allowing

you to interact with subject experts as well as other students.

By leveraging these tools you will be able to expand and

strengthen your learning.

STUDENT RESOURCES

STUDY GROUPS

You can form and take part in a study group with other students within your unit of the CFP Certification Program.

SUBJECT EXPERTS

To help you understand the technical content of the learning material, we appoint a Subject Expert to each unit. The Subject Expert is available to assist you with any issues you have. Simply post your questions in the Chat Room and the experts will respond. Our experts are practising financial planners who are committed to giving back to the financial planning community.

CHAT ROOM

We encourage you to communicate with other students, to exchange ideas and study techniques. You can post questions about the content, assignment or examination.

Whilst we always encourage discussion and sharing ideas, any work you submit must represent your own interpretation and thinking. We recommend you visit the chat room regularly for the latest information.

LIVE TUTORIALS

You will have the opportunity to participate in online live tutorials with our subject experts. These sessions are designed to explore further the technical content of the unit while providing practical case studies. Tutorials are recorded and available to view again.

CFP® PRACTITIONER EXPERIENCE PATHWAYS

The practical application in the workplace of the technical knowledge gained through formal study is a

key characteristic in the development of a professional financial planner. Completion of work experience

under supervision will provide you with the support, expertise and advice of an experienced member of the

financial planning profession and provide further public confidence in the quality of the advice offered by

CFP professionals. On completion of the CFP Certification Program you will be eligible to apply for the CFP

designation, where you will need to comply with either of the following experience pathways:

PATHWAY ONE PATHWAY TWO

Pathway description

Two years of full-time (or part-time equivalent) client-facing, Authorised Representative experience within the last five years.

Note: This may not include the Professional Year

Four years of full-time (or part-time equivalent), relevant experience that demonstrate financial planning knowledge and competencies, and directly or indirectly support the financial planning process.

This pathway is appropriate for professionals such as paraplanners and academics teaching units in a financial planning curriculum, and those in compliance, technical, research, learning and development and practice management areas.

Note: Individuals who achieve the CFP designation via a non-client facing route will receive a non-practicing designation.

How to comply

Full-time (or equivalent part-time) qualifying Authorised Representative activities and responsibilities must satisfy a two-part requirement:

Full-time (or equivalent part-time) qualifying activities and responsibilities that are counted towards relevant experience must satisfy a two-part requirement:

PART 1Experience MUST address all of the six primary elements of the personal financial planning process:

1. Establishing and defining the client relationship

2. Gathering data from the client3. Analysing and evaluating the client’s

financial status4. Developing and presenting the

financial planning recommendations5. Implementing the financial planning

recommendations6. Monitoring the financial planning

recommendations

PART 1Experience MUST fall within one or more of the six primary elements of the personal financial planning process:

1. Establishing and defining the client relationship

2. Gathering data from the client3. Analysing and evaluating the client’s

financial status4. Developing and presenting the

financial planning recommendations5. Implementing the financial planning

recommendations6. Monitoring the financial planning

recommendations

PART 2Your record of experience must be verified by an approved internal assessor. Ideally, the internal assessor should hold the CFP Certification, but we understand that this may not be practical. The following positions are acceptable - your supervisor or financial planning manager, director / compliance manager of your practice or your regional / state manager. Note: Your internal assessor must have knowledge and experience of the financial planning process.

PART 2 Experience CAN be satisfied through ONE or more of the following five ways:

1. Personal delivery to individual client2. Supervision of personal delivery to

individual client3. Support of personal delivery to individual

client (direct, indirect)4. Teaching a financial planning curriculum

unit5. Paraplanning, practice management,

compliance, technical support and other related roles.

Defining ‘direct and indirect support’ for Pathway Two

DIRECT SUPPORT

Direct support relates to responsibilities and activities that directly support the activities of one or more financial

planners/professionals.

INDIRECT SUPPORT

Indirect Support relates to responsibilities and activities that demonstrate financial planning knowledge and

competencies, and indirectly support the financial planning process which will ultimately benefit an individual

client. Since indirect support experience are unique to the candidate, the FPA will review ALL indirect support

experiences and make an immediate determination if experience can be approved.

Completing the CFP Certification Unit for Pathway 2

If you are entering the designation through Pathway 2, the following evidence will be required to complete the

CFP Certification Unit:

FOR ACADEMICS – NON-PRACTICING CFP

Evidence of Teaching

This outlines your teaching experience and identifies how the units/subjects that you teach align to the key study

areas of financial planning set by the Financial Planning Education Council.

Letter of Good Standing

This letter outlines your key duties and certifies that you have no record of disciplinary action initiated, underway

or completed. A suggested template for the letter of good standing can be downloaded here.

FOR NON-CLIENT FACING PROFESSIONALS – NON-PRACTICING CFP

Record of Experience

This outlines your professional experience and how it maps to one, some or all of the FPA’s six steps of financial

planning.

PLUS Letter of Good Standing

FOR CLIENT-FACING INDIVIDUALS/AUTHORISED REPRESENTATIVES – PRACTICING CFP

Observations One and Two, Record of Experience and Letter of Good Standing

TRANSITIONING FROM A NON-PRACTICING CFP TO A PRACTICING CFP

If you would like to transition to become a practicing CFP, you must:

• Be on the Financial Adviser Register.

• Complete Observations One and Two (if not yet already completed).

PRICING AND IMPORTANT DATES

Below is a list of prices for each unit within the CFP Certification Program and important dates for 2020.

Subject Unit Price Includes tutorials, course materials and assistance

Course feesPreferential rate for

FPA Professional Partners and Practices

All CFP Units $1,600 per unit $1,440 per unit

Partial withdrawal refund before advertised date $600 $440

Repeat Subject Unit Price Includes tutorials, course materials and assistance

Course fees

Assignment $1,100

Exam $1,100

Assignment and Exam $1,300

Important DatesSemester 1

2020Semester 2

2020Summer

Semester 2020*

Enrolments open 8 Jan 1 Jun 5 Oct

Final enrolment date 12 Feb 2 Jul 5 Nov

Semester start 24 Feb 13 Jul 16 Nov

Full refund withdrawal Before 13 Feb Before 3 Jul Before 6 Nov

Partial refund withdrawal Before 9 Mar Before 27 July Before 30 Nov

Assessments due

CFP 2 & CFP 3 Assessment

CFP 1 & CFP 4 Assessment

CFP Certification Assessment

CFP Certification Observations & Record of

Experience

1 Apr

29 Apr

15 Apr

25 Mar

19 Aug

16 Sept

2 Sept

12 Aug

13 Jan 2021

Examination (excluding CFP 1 & CFP 4) 5 May 22 Sept N/A

Result release 9 Jun 27 Oct 2 Feb 2021

* CFP 1 and 4 only

If you are certified in one of the countries affiliated

with the Financial Planning Standards Board and

are currently authorised to use the CFP marks in

that country, you can apply for CFP Certification in

Australia. To do this you will need to provide us with

the following:

• Your overseas CFP designation certificate

• A copy of your degree

• A letter of good standing from the CFP

Certification body in the country you gained

your CFP designation.

• Completion of the Diploma of Financial Planning

(RG146 compliant)

• Proof of Australian residency.

Once we have this documentation and you have

become an FPA member, you can then enrol into the

Australian CFP Certification Program. You will then

need to successfully complete CFP 1 followed by CFP

Certification (exam only).

CROSS BORDER ARRANGEMENTS

NEW ADMISSIONThe best way for us to learn about your personal circumstances and get you on the right path, is to

complete the new admission online application. Through this service, you’ll find out more about your

personalised pathway. Once successful, your place in the program is guaranteed. To get started, visit

www.fpa.com.au/cfp.

TALK TO USIf you’d prefer to start by asking us more questions about the CFP® Certification Program, we’d be

delighted to help. Contact us on 1300 337 301 or email us at education@fpa.com.au.

WHAT’S NEXT

ABN 62 054 174 453 GPO Box 4285 Sydney NSW 2001

1300 337 301 education@fpa.com.au www.fpa.com.au

© 2020 Financial Planning Association of Australia Limited