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The American Institute of CPAs said Wednesday that is has launched a Personal Financial Planning (PFP) Certificates Program, offering CPAs another path to earning the Personal Financial Specialist (PFS) credential.

The program includes certificates on retirement, estate planning, risk management/insurance, investment planning and a fifth certificate covering the practical application of the planning process.

Tax considerations are integrated throughout all certificates, AICPA says.

With an estimated 10,000 baby boomers turning 65 daily over the next decade, the need for personal financial planners is projected to grow 15% from 2016 to 2026, much faster than the average for all occupations, AICPA said, citing the Bureau of Labor Statistics.

“The PFP Certificate program offers CPAs a new way to develop their financial planning skill set while also working towards the Personal Financial Specialist credential,” said Jeannette Koger, vice president of advisory services and credentialing at AICPA. “CPAs now have increased flexibility to learn what they need to know in specific areas of financial planning on their own schedule.”

The PFP certificates cover the AICPA PFP Body of Knowledge, with each of the four technical certificates demonstrating competence in relevant disciplines.

Online education or knowledge from prior education and experience prepares the CPA for passing each certificate exam, which results in the certificate being awarded, AICPA explains.

The final applications certificate is awarded after completing specific education and real-life planning situations focusing on the planning process and integration of the entire financial plan.

“CPAs who enroll and obtain all five certificates will have satisfied both the education and exam requirements for the PFS credential,” AICPA says.

While only CPAs can earn the PFS credential, the education and certificates are open to non-CPAs.

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