ChFC

Chartered Financial Consultants, or ChFCs, must complete pre-certification requirements in a variety of areas related to insurance, finance, and investing. In addition, these requirements include educational prerequisites, work experience in the field, and continuing education courses. Continuing education courses that have been reviewed and approved for credit for Certified Financial Planners by the CFP Board can also be used to meet ChFC requirements for an equal amount of hours. ChFC courses are designed to keep licensees in line with the official standards drafted by the board.

In order to earn their certification, ChFCs must complete eight courses, two of which can be chosen from several electives, with six standard required courses remaining. The required courses are Financial Planning, Fundamentals of Estate Planning, Fundamentals of Insurance, Retirement Planning, Investments, and Income Taxation. The two elective courses can be selected from such offerings as Financial Planning Applications, Estate Planning Applications, and more. Before their certification can be complete, students must also agree to abide by the ChFC Code of Ethics and Procedures. Continuing education providers, such as A Plus Online, can assist applicants by offering CE courses that help fulfill the requirements to maintain their certification.

ChFC Education Requirements
ChFCs are also required to hold a bachelor’s degree in an approved subject in order to complete certification. However, the degree is only required for certification, and not enrollment in the program, so first-time applicants can still work towards certification while simultaneously pursuing their bachelor’s degree in an approved subject. The six required courses for ChFC certification are identical to the CFP requirements. The distinction between the programs is made by the additional two electives required for ChFC certification. Because many of the requirements are identical, CFPs might find it convenient to pursue ChFC certification as part of their continuing education.

The period for ChFC certification is two years, meaning that all requirements must be completed before certification expires at the end of that time. The requirements go into effect immediately following certification, meaning that even newly certified Chartered Financial Consultants must immediately begin working to maintain their license after they have been certified.

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