CFP Board Announces Updates to the Competency Standards

The Board of Directors of CFP Board has approved updates to the Competency Standards that underpin CFP® certification. Together, these updates strengthen alignment with real-world financial planning practice, reinforce the CFP® marks as the standard for competent, ethical financial planning and reflect CFP Board's responsibility to serve the public interest.

Financial planning continues to evolve in complexity, scope and impact. As consumer needs, regulatory requirements and professional practice change, CFP Board regularly evaluates its certification requirements to ensure they remain rigorous, relevant and practical. The revised standards reinforce the integrated nature of the four E's of certification (education, examination, experience and ethics) and help prepare CFP® professionals to meet the evolving needs of the public.

These updates reflect a thoughtful, evidence-based review of CFP® certification requirements. Some standards were strengthened, others clarified, and in certain cases existing requirements were intentionally retained where they continue to serve the profession and the public well.

Implementation and Timing

All approved changes have future effective dates and will be phased in over time. No immediate changes apply to certification or renewal requirements. CFP Board will provide advance notice, detailed guidance and transition resources ahead of each effective date.

For additional details, see the Competency Standards FAQs.

Summary of Approved Changes

Education Standard

1. Addition of Certified Investment Management Analyst® (CIMA®) certification to the Accelerated Path (Q2 2026)

2. Current standard:
   Candidates may satisfy the Coursework Requirement through the Accelerated Path based on certain approved degrees, credentials or licenses, excluding the Capstone Course.

   Approved change:
   Certified Investment Management Analyst® (CIMA®) certification will be added to the list of approved Accelerated Path credentials.

   Following a comprehensive review of existing Accelerated Path credentials, CIMA® certification was determined to demonstrate the level of rigor and professional preparedness appropriate for CFP® certification. Individuals with CIMA® certification must still earn a bachelor's degree, complete the Capstone Course, satisfy the experience requirement, pass the CFP® Certification Examination and meet ethics and background standards.

   Experience Standard

3. Standard Pathway to require experience that demonstrates at least three steps of the financial planning process (Q1 2027)

4. Current standard:
   Candidates must complete qualifying professional experience related to the personal financial planning process.

   Approved change:
   Candidates pursuing the Standard Pathway must demonstrate experience addressing at least three steps of the financial planning process.

   This update reinforces that required experience reflects the holistic nature of financial planning, rather than limited or task-based roles. It strengthens the competency-based foundation of CFP® certification and better prepares candidates for real-world client engagements. Experience logged before the effective date will continue to be evaluated under the prior standard.

   The seven-step financial planning process:

   • Understand the client's personal and financial circumstances.

   • Identify and set goals.

   • Analyze the current course of action and potential alternative course(s) of action.

   • Develop the financial planning recommendations.

   • Present the financial planning recommendations.

   • Implement the financial planning recommendations.

   • Monitor progress and update.

   Experience Standard

5. Qualified pro bono experience meets the experience requirement (Q2 2027)

6. Current standard:
   Professional experience must be obtained through paid or traditional roles within the financial planning process.

   Approved change:
   Candidates may count up to 500 hours of qualified pro bono financial planning toward the 6,000-hour Standard Pathway experience requirement.

   Pro bono experience is often highly valuable to developing financial planning competence. This change expands access to financial planning for underserved communities while reinforcing hands-on, competency-based experience for candidates. Qualified pro bono experience must be completed through approved organizations that provide appropriate training and supervision.

   Examination Standard

7. Clarification of independent practice competency (Q2 2026)

8. Current standard:
   Passing the CFP® Certification Examination is described as demonstrating competency necessary to practice independently as a financial planner.

   Approved change:
   The Examination standard will clarify that competency to practice independently is demonstrated by completing all four certification requirements: education, examination, experience and ethics.

   This clarification reinforces that CFP® certification reflects integrated competence across all four requirements, not performance on a single exam alone.

   Continuing Education Standards

9. Increase to 40 CE hours per two-year cycle (38 hours of general CE and 2 hours of CFP Board Ethics CE), allowing up to five hours focused on practice management (Q1 2027)

10. Current standard:
    CFP® professionals must complete 30 hours of continuing education every two years, including 2 hours of Ethics CE.

    Approved change:
    The minimum CE requirement will increase to 40 hours every two years. Up to five hours may focus on Practice Management. The required 2-hour Ethics CE requirement remains separate and mandatory.

    Expanded continuing education aligns with the competency demands of modern financial planning, supporting CFP® professionals in staying current and engaged with emerging issues shaping client outcomes. Targeted practice management education strengthens business practices that support professionalism and the high-quality client service that clients expect from CFP® professionals.

    The increased CE requirement will apply beginning with a CFP® professional's first full two-year certification renewal cycle that begins after the Q1 2027 effective date. The requirement is not retroactive and does not affect any two-year certification renewal cycle that begins before the Q1 2027 effective date.

    Looking ahead, CFP Board is launching a broader review of continuing education quality in 2026 to assess how CE requirements and offerings can best support ongoing professional competence and reinforce the value of CFP® certification.

11. CE carryover of 10 hours (Q1 2027)

12. Current standard:
    CE hours must be completed within each two-year cycle and do not carry over.

    Approved change:
    CFP® professionals may carry over up to 10 excess CE hours into the next two-year certification cycle.

    Allowing limited carryover supports continuous learning, rewards proactive professional development and removes disincentives for exceeding CE requirements.

13. Mandatory CE topics in response to significant regulatory or legal changes (Q1 2027)

14. Current standard:
    CE requirements focus on personal financial planning topics selected by the certificant.

    Approved change:
    CFP Board may designate mandatory CE topics in response to significant changes in laws, tax codes or regulations affecting the financial planning profession as determined by the Board of Directors.

    This authority supports CFP® professionals in remaining current on time-sensitive developments that directly affect consumer outcomes. Required CE may be completed through any CFP Board-approved CE sponsor. There are currently more than 1,100 approved sponsors.

    CFP Board anticipates using this authority selectively and transparently, in response to significant, time-sensitive developments that materially affect financial planning practice.

A Thorough, Measured Review Process

These updates reflect a deliberate, 18-month review led by CFP Board's Competency Standards Commission, grounded in research, professional insight and robust stakeholder engagement. Public input played a meaningful role throughout the process, with CFP Board inviting and considering public comment on select proposals from December 17, 2024, through March 3, 2025. By pairing rigorous review with broad engagement, these updates help position CFP® certification to meet the demands of an evolving profession and the needs of the public for years to come.

Read the Public Comments.

Not every proposal released for public comment was adopted. In some cases, existing requirements were determined to continue meeting the needs of the profession and the public.

Bachelor's Degree Requirement

While the bachelor's degree requirement was not within the scope of the public comment process for this review cycle, CFP Board heard from a number of stakeholders who shared broader perspectives on the requirement. CFP Board values this feedback and, consistent with its commitment to thoughtful standards stewardship, will establish an Academic Pathways & Standards Working Group in 2026 to review the bachelor's degree requirement and consider whether it should be maintained or modified.

This review will be informed by data, workforce trends and stakeholder input and will uphold CFP® certification as a mark of professional competence.

Supporting Stakeholders Through the Transition

CFP Board will support CFP® professionals, candidates, firms, educators and CE sponsors through targeted communications, implementation guidance and practical resources as the updated standards take effect. Additional communications will precede each effective date to ensure clarity, readiness and a smooth transition.

Through disciplined governance and ongoing review, CFP Board continues to uphold CFP® certification as the standard in financial planning and a trusted mark of competence and professionalism for the public.

Additional communications will precede each effective date to ensure clarity, readiness and a smooth transition, and no changes will apply retroactively.

Read FAQs on Competency Standards