CPA/PFS
Our Services are offered by individuals with the CPA/PFS designation.
Personal Financial Planners
Many consumers are unaware that “there is no specific, direct regulation of financial planners’ per se at the federal or state level.” Some Individuals offering personal financial planning services may choose to register as an investment adviser and come under federal and state regulation. To become an adviser, an individual must complete a background check and pass the Series 65 (Uniform Investment Advisor Law) exam.
The following certificates are exempt from the Series 65 exam: CFP®, CFA®, ChFC®, CPA/PFSTM. Of these four certificates, only one is tax focused, the CPA/PFS. The core of personal financial planning is tax. Investment management, estate planning, risk management and financial independence planning all require tax planning to be effective. Additionally, only one of the four has a requirement for a professional license, the CPA/PFS.
| CERTIFIED FINANCIAL PLANNER™ | ChFC® | CFA® | CPA/PFS™ | |
|---|---|---|---|---|
| Education | Bachelor’s degree | High school diploma | Bachelor’s degree | Bachelor’s degree and at least 150 credit-hours of coursework in accounting (varies by state) |
| Professional License | No | No | No | Yes / Certified Public Accountant |
| Continuing Education Requirement | 30 hours every two years | 30 hours every two years | None required | 40 hours annually, 20 of which must be in personal financial planning |
- The Personal Financial Specialist (PFS) certification is only available to certified public accountants (CPAs).
- Of the recognized personal financial planning designations, PFS certificants have the highest requirements, including a CPA license, education, and continuing education.
- In addition to extensive personal financial planning knowledge and experience, the CPA/PFS has extensive tax and corporate finance expertise.
If you would like to learn more, please contact us.
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