A Certified Financial Planner (CFP) is a professional designation granted by the Certified Financial Planner Board of Standards, Inc. CFPs are knowledgeable about a variety of areas of personal financial planning such as investments, tax planning, retirement planning, estate planning, and insurance.

In order to receive the CFP designation, individuals must pass a comprehensive two-day examination that covers a wide range of subjects related to financial planning, and a rigorous application process. In addition, CFPs must demonstrate a defined level of experience in the field of financial planning, adhere to a strict code of ethics and demonstrate an understanding of regulatory requirements.

The most important aspect of a CFP is the fiduciary responsibility they have to their client. According to the CFP Board, this means they “must act in the best interests of their clients because they have a legal and ethical obligation to do so.” A CFP must strive to represent their clients’ interests in good faith to prevent them from being taken advantage of. This means they must strive to find the best solutions for their clients, even if those solutions do not necessarily benefit the CFP directly.

As a result, CFPs are invaluable advisers to individuals and families. Having a trusted resource to make sure their finances are in the best shape possible can bring a great deal of peace of mind to individuals and make for a more secure financial future. Moreover, CFPs can advise people on a variety of courses of action, from selecting investments to making sure insurance policies are adequate. In these turbulent times, knowing that their finances are in capable hands can be comforting.

Ultimately, the value of a CFP has never been greater and having someone who is knowledgeable about all financial matters could be the difference between financial success and financial disaster. Taking the time to research and find a trustworthy and experienced CFP should be at the top of a person's financial priority list.