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Maintaining CFP
® Certification
Send queries to
Financial Planning Association of Australia– Professional Designations GPO Box 4285, Sydney NSW 2001 | Fax: 02 9220 4580 | Email: [email protected]
Or call us on 1300 337 301 for further assistance. Maintaining CFP 8/11 v1
AUGUST 2011
Once you have been certified and authorised to use the CFP®, CERTIFIED FINANCIAL PLANNER
® and
certification marks, you are required to maintain and periodically comply with certification renewal requirements.
By meeting the ongoing competency requirements of continuing professional development and by adhering to the FPA’s Code of Professional Practice, you will demonstrate to the public that you have voluntarily agreed to meet high standards of professionalism in a changing financial world.
Unlike a qualification that is awarded to individuals who satisfy education requirements at a point in time, maintaining CFP certification requires ongoing completion of the four Es:
Ethics: continue to abide by the FPA Code of Professional Conduct; and
Education: comply with Continuing Professional Development (CPD) requirements (120 points per triennium)
Experience: provide personal advice across the six steps or directly supervise those who do (see also non-practising category below)
Examination: Complete survey/audit tasks as required from time to time
In addition, compliance with the use of the CFP marks helps to ensure the integrity of the CFP certification marks for the benefit of the public.
Renewal process
CFP certification is limited to a fixed period of time and all CFP practitioners must periodically comply with certification renewal requirements in order to be authorised to continue using the CFP marks. The renewal process corresponds with the membership subscription period and consists of :
An annual online survey
Payment of fees
The online survey includes:
confirmation of contact and AFSL details
attestation on adherence to the Terms and Conditions of Certification
confirmation of CPD points completed
questions relating to current experience and eligibility for a Certificate of Practice
statistical questions so that we can better represent our members.
Members receive the new financial year’s practice certificate after completion of the survey and payment of fees. Certificates are printed in batches with renewals up to 15 June, 15 July and 30 August. After 30 August, members who have not renewed are suspended, so a late fee will apply to Practice Certificates for renewals after that date.
Periodic Audits
The online survey completed as part of the renewal process provides the basis of the ongoing audit. Random audits may be made of members to validate data, including marks use and CPD completion either partway through a triennium or at the end of the triennium. The current triennium ends on 30 June 2012.
Maintaining CFP
® Certification
Send queries to
Financial Planning Association of Australia– Professional Designations GPO Box 4285, Sydney NSW 2001 | Fax: 02 9220 4580 | Email: [email protected]
Or call us on 1300 337 301 for further assistance. Maintaining CFP 8/11 v1
AUGUST 2011
New category of Non-Practising CFP® Professional
From 1 July 2011, a new category of non-practising CFP professional provides an option to retain the mark even when not working directly as a financial planner. The Ethics, Education and Examination requirements remain the same.
A non-practising CFP professional is not eligible for a Practice Certificate.
Becoming a Non-practising CFP Professional
CFP Professionals must notify the FPA if they no longer satisfy the experience requirements for a practising CFP professional.
During the renewal process, a change of category can be made by simply selecting the option for Non-Practising CFP professional in the online survey.
At other times, contact Member Services on 1300 337 301 to provide a change of details. A current practice certificate will need to be returned to the FPA.
Returning to the Practising category
If changing from non-practising CFP professional to the practising category, evidence of 3 months authorisation must be provided to Member Services. Where membership has remained current, a late fee for a Practice Certificate does not apply.
Putting your CFP certification on hold
You can put your CFP certification on hold by applying for a Leave of Absence.
The most common reasons to apply for leave of absence are:
leaving the profession for a short period of time – for example to travel or for family reasons
prolonged illness
retrenchment/redundancy.
By applying for Leave of Absence, you will not lose your CFP practitioner status. The key conditions of the policy are:
continued affiliate status of the FPA (at a reduced rate)
unable to represent yourself as a CFP practitioner
prohibited from using the CFP marks.
An application for Leave of Absence cannot be made retrospectively. You cannot apply after your membership has been terminated.
Replacement/Late Certificates
If you have misplaced your Certificate showing your CFP Certification or your Practice Certificate, you need to complete a form and pay a fee for a replacement. A statutory declaration of its loss is required or a damaged certificate can be returned for replacement. It is not possible to issue extra certificates for additional offices. A late fee also applies for renewal of Practice Certificates after 30 September.
