FAQs
While there is some overlap between the two credentials, they have different focus areas. A CFP® professional focuses on helping individuals with their personal investments, whereas a CFA® charter holder generally specializes in selecting investments for institutional investors.
Is the CFA exam harder than the CFP exam? ›
While both the CFA and CFP exams are quite difficult, the CFA exam is known to be one of the most, if not the most, challenging certification exams in the financial industry. It consists of three 6-hour exams that must be completed and passed in sequential order.
How much does a CFA make compared to a CFP? ›
– The CFA Institute says a CFA charter holder can earn between $126,000 and $177,000. – Comparably.com data from Feb. 2023 shows the average CFP® salary in the U.S. is $121,099. The total range is between $39,300 and $187,200.
What does certification tell you about a financial planner? ›
To earn a CFP certification, financial planners must show proficiency in risk management, investment, tax, retirement, income and estate planning. Certified financial planners are held to a fiduciary standard, meaning they must act in their client's best interests.
How prestigious is CFP? ›
For 50 years, CERTIFIED FINANCIAL PLANNER® certification has been the standard of excellence for financial planners. CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first.
What is the best combination with CFA? ›
While CFA provides knowledge of investments, FRM specialises in risk assessment and management. If your aim is to become a CFA with a specialisation in risk management, then opting for the CFA and FRM combination is a wise call.
Is CFP harder than the bar? ›
The CFP® Certification Examination is equally as challenging as the CFA® exams, the CPA® exam, and bar exam. Every year, thousands of candidates go through this rigorous certification testing, but not everyone makes it to the finish line.
How many people have CFA and CFP? ›
I am unaware of a database that tracks the population of both CFA/CFP holders, however there are approximately 100,000 CFA charter-holders in the world and approximately 69,000 CFP certificants in the world.
What is the hardest financial exam? ›
Overview. It's long been known as the hardest qualification in finance. A rewarding, if somewhat daunting undertaking. But 60 years since candidates sat the first exams, the CFA Program has changed.
Who is the highest paid CFA? ›
Top Companies that employ CFA Chartholders In India?
Company Name | Salary Range |
---|
The Goldman Sachs Group, Inc. | ₹364,923 – ₹1,650,000 |
J.P. Morgan Chase & Co. (JPMCC) | ₹157,046 – ₹1,526,047 |
HSBC | ₹600,000 – ₹1,678,652 |
Credit Suisse | ₹1,080,000 – ₹1,915,000 |
1 more rowFeb 12, 2024
Salary and Career Path - CPA vs CFP
According to the Bureau of Labor Statistics (BLS), an accountant with a bachelor's degree can earn more than $78,000 per year on average, but a CPA can earn around $119,000. Certified Financial Planner (CFP) salaries in the United States range from $39,300 to $187,200.
Is paying a CFP worth it? ›
In the long term, a CFP® can also help you plan whether you have enough life insurance coverage and know what investments belong in your retirement strategy. A financial advisor who holds a chartered financial analyst (CFA) designation, on the other hand, may focus on investment advice.
What is the easiest financial designation to get? ›
Certified Financial Modeling and Valuation Analyst
Anyone can complete the program, regardless of their industry or level of experience. It takes between four and six months to finish the program.
Does a CFP need a series 7? ›
The CFP and the Series 7 are two qualifications that may be of interest to financial professionals. In fact, a CFP could also look to complete the Series 7 exam. However, they serve different purposes. The CFP is for experienced financial planners looking to set themselves apart from the competition.
What percentage of financial advisors are CFP? ›
What percentage of financial advisors are CFP® professionals? About 30% of financial advisors in the United States are CFP® professionals. There are approximately 617,549 registered representatives eligible to sell securities in the United States, according to FINRA.
Which degree is best for CFA? ›
A degree in either finance or accounting is the best for CFA since these cover concepts of the CFA course. However, a degree in business is also useful for CFAs. Is CFA course useful? Yes since CFA is one of the esteemed job profiles in the finance industry.
Is CFA harder than CPA? ›
CFA vs CPA difficulty
Or are the CPA exams harder than the CFA exams? As we've established when looking at the differences between the CFA and CPA exams, the breadth, depth and length of the CFA exams combined make the CFA exams a lot more challenging to undertake and pass than the CPA exams.
What percentage of financial advisors have CFA? ›
Since the first CFA exam was given in 1963, the combined global pass rate for all three levels of the exams is 52 percent. 4% of financial advisors have a CFA.
What is the benefit of getting CFP designation? ›
Earning your CERTIFIED FINANCIAL PLANNER® certification is the most beneficial step you can take to accelerate your career and better serve your clients. As a CFP® professional, you'll enjoy a rewarding, in-demand career while helping people achieve their financial dreams.