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Update: Renewal requirements for CFP designation

By Staff Writer

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The College for Financial Planning will implement renewal requirements in spring for anyone holding a College for Financial Planning professional designation. These changes are a significant shift for the College for Financial Planning as it has not required continuing education credit for those that have held one of its designations in the past, according to a statement.

Designees will be required to obtain 16 hours of CE for each designation they hold, agree to an updated ethical component and pay a $75 renewal fee for each designation. The designee will be responsible for ensuring that the courses adhere to the topic list for their designation, obtaining proof of attendance and reporting the CE hours to the College for Financial Planning.

What will this entail? When attending a Financial Planning Association (FPA) conference or Virtual Learning Center (VLC) program, or upon completion of a self-study CD-ROM course or a Journal of Financial Planning exam, credit will be obtainable toward not only the CFP designation, but other designations as well.

Below are the designations affected by the new requirements:
Registered ParaplannerSM or RP(R)
Accredited Wealth Management AdvisorSM or AWMA(R)
Accredited Asset Management SpecialistSM or AAMS(R)
Chartered Mutual Fund CounselorSM or CMFC(R)
Chartered Retirement Planning CounselorSM or CRPC(R)
Chartered Retirement Planning SpecialistSM or CPS(R)