What are the different types of financial advisor certification?
When a person considers a career as a financial advisor, he can believe that the work itself is mainly about numbers. However, he will soon find that the letters that follow his name on his business card are placed great emphasis and importance, especially those determined by the various certifications of the financial advisor he currently holds. A financial advisor can be certified in various skills sets based on his individual field of expertise. The most common sought -after certifications are certified financial planner and REG (CFP & REG), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA) and Chartered Life Underwriter. He successfully completed and passed the exam, gained the required level in the field and gained minimal educational background. He is also obliged to meet the continuing requirements for further education and regular repeated testing to maintain the CFP & Reg financial advisor certification current and in good condition.
Certification of the CPA financial advisor is awarded to an individual who specializes in the accounting area and who has met the necessary education, experience, licensing and exam requirements. CPA prepares and submits tax returns and performs subsequent tax audits either for individuals or companies. An individual who has already been described as a CPA will sometimes also find the certification of the financial advisor as a specialist in personal finances (PFS), who shows his understanding of personal financial planning and taxes.
Certification of the CFA financial advisor is awarded an individual who has successfully passed three certification examinations after obtaining three years of the relevant accounting experience. The certification is designed to provide extensive understanding of accounting procedures as well as portfolio administration and investment analysis. Many individuals who have CFA certification will also organize the designation of a rented investment advisor (CIC). This additional certification of the financial advisor showsthat the individual has shown a more detailed understanding of the standfolio management standards and procedures than the CFA required.
CLU Certification is provided by individuals who focus on the economic aspects of various premiums and benefits. It includes a combination of study programs and an extensive number of tests. Financial advisor to CLU certification is equipped to address a wide range of topics, including real estate planning, life and health insurance, retirement planning and investment management. Clujs certification is often required for individuals looking for work in the insurance industry who will deal with the financial aspects of the industry.