CFP exam
Study online at https://quizlet.com/_1h5hb
1. Topic 1: Financial ...
Planning Process
2. 6 step process: 1. Establish Relationship
EGADIM 2. Gather Information
3. Analyze data
4. Develop plan
5. Implement
6. Monitor
3. Step 1: Establish • Services that will be provided
Relationship • compensation/billing
• Responsibilities of both client/planner
• Time frame of relationship
4. Step 2: Gather • It is important that goals be defined before any recommendations
quantitative and • A goal should be specific, prioritized and quantified
qualitative data • Fact finder form
5. Step 3: Analyze • Identify strengths and weaknesses
data • Analysis of current position
• Should be based on realistic assumptions
6. Step 4: Develop • Objective
Plan • Should be presented to client
• Mutually decide on revisions
• Prioritized list of implementation steps and timing
7. Step 5: Imple- • Work closely with other professional team members
ment • Help client with product acquisitions
8. Step 6: Monitor
, CFP exam
Study online at https://quizlet.com/_1h5hb
• Fed tax changes
• Economic changes
• Modifications to plan
9. Topic 2: Code of ...
Ethics & Profes-
sional Responsi-
bility + Discipli-
nary Rules Proce-
dures
10. Aspirational Prin- • Integrity
ciples • Objectivity
• Competence
• Fairness
• Confidentiality
• Professionalism
• Diligence
11. Confidential In- • The client consents
formation can • Court ordered
be disclosed only • CFP must defend accusations
when... • Civil suit between client and CFP
12. CFP Board of Pro- • Inquiry Panel - grounds for discipline
fessional Review • The Hearing Panel - Recommendation to board
• Board of Appeal - w/in 30 days
13. Topic 3: Financial ...
Planning Practice
Standards
14.
Study online at https://quizlet.com/_1h5hb
1. Topic 1: Financial ...
Planning Process
2. 6 step process: 1. Establish Relationship
EGADIM 2. Gather Information
3. Analyze data
4. Develop plan
5. Implement
6. Monitor
3. Step 1: Establish • Services that will be provided
Relationship • compensation/billing
• Responsibilities of both client/planner
• Time frame of relationship
4. Step 2: Gather • It is important that goals be defined before any recommendations
quantitative and • A goal should be specific, prioritized and quantified
qualitative data • Fact finder form
5. Step 3: Analyze • Identify strengths and weaknesses
data • Analysis of current position
• Should be based on realistic assumptions
6. Step 4: Develop • Objective
Plan • Should be presented to client
• Mutually decide on revisions
• Prioritized list of implementation steps and timing
7. Step 5: Imple- • Work closely with other professional team members
ment • Help client with product acquisitions
8. Step 6: Monitor
, CFP exam
Study online at https://quizlet.com/_1h5hb
• Fed tax changes
• Economic changes
• Modifications to plan
9. Topic 2: Code of ...
Ethics & Profes-
sional Responsi-
bility + Discipli-
nary Rules Proce-
dures
10. Aspirational Prin- • Integrity
ciples • Objectivity
• Competence
• Fairness
• Confidentiality
• Professionalism
• Diligence
11. Confidential In- • The client consents
formation can • Court ordered
be disclosed only • CFP must defend accusations
when... • Civil suit between client and CFP
12. CFP Board of Pro- • Inquiry Panel - grounds for discipline
fessional Review • The Hearing Panel - Recommendation to board
• Board of Appeal - w/in 30 days
13. Topic 3: Financial ...
Planning Practice
Standards
14.
