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LSUBanker
LSU Fan
Gonzales, La
Member since Sep 2003
1853 posts

Friendly advice requested from the CFPs here - course and exam related.
Just started taking the courses and plan on sitting for exam in 7/2020. A colleague of mine at my firm passed it in spring 2019, It took him approx. 2 years. He has young kids so he needed extra time. I finally have the free time to do it now. His advice was to stay with it, study hard, don't get behind in the material and classes and I'll be fine. I'm using Dalton Education via LSU EJ Ourso School of Biz. I'm using the "Guarantee to Pass" package, so I feel really good about that. At the present, with my current firm I really don't have to or need to get it, but I feel the industry for advisors will change more and more in the near future. Clients are changing to. So far I'm enjoying the material and it's already helping me during the day at the office. Just trying to stay ahead of the curve and competition.

Anyone else with other tips or advice about the classes and the exam will be greatly appreciated.

TIA
This post was edited on 9/18 at 4:47 pm


UpstairsComputer
LSU Fan
Prairieville
Member since Jan 2017
681 posts

re: Friendly advice requested from the CFPs here - course and exam related.
To start, good for you. Your commitment to your craft will pay off in your confidence level and how the public perceives you.

Depending on how long you've been in the business, most of this you have already used or have experience with so it's really connecting the dots.

I read the books (also used Dalton, they had LSU references back then) once through and then did the Kier comprehensive review. What I found most useful was the practice exams on both platforms. Once I went through the material, I just hammered the practice questions over and over until my scores on every area were over 90%. The benefit of doing that is the questions on the actual exam itself are almost identical in how they are written so you get a great feel for what to expect when you're sitting in the room taking the test. Some of the questions are built to trick you, but if you have seen how they trick you before you pick up on the subtle nuances and reread them a little closer.

For what it's worth, I took it in 2012, and passed every section and comprehensive on my first try. I was above average score on everything except...data gathering (HA! I still effing hate data gathering - just get me your shit!)

Good luck!


LSUBanker
LSU Fan
Gonzales, La
Member since Sep 2003
1853 posts

re: Friendly advice requested from the CFPs here - course and exam related.
quote:

HA! I still effing hate data gathering - just get me your shit!)



Hilarious! Same here.

I've been in industry since 1999, so everything I'm reading is very familiar. Some of the terminology the CFB board uses is a little different. Like "investable assets"....they dont consider cash, cash equivalents as investable, but I do. I did notice some of quizzes are tricky. Like for example; most of a question i read recently was true, but they throw one word in there that makes it all false.

I plan on taking a ton of practice tests, exams, and quizzes. As many as I can get my hands on. Thanks for the advice.


UpstairsComputer
LSU Fan
Prairieville
Member since Jan 2017
681 posts

re: Friendly advice requested from the CFPs here - course and exam related.
Data gathering being a deciding factor on the CFP exam is the work equivalent of sensitivity training.

I don’t remember what about it was so tough, only that I did good on every but that.


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tigerrocket
LSU Fan
Member since Aug 2008
129 posts

re: Friendly advice requested from the CFPs here - course and exam related.
All I ever did was take the practice test over and over, always referring back to the book when I didn't understand a question. (but that was 20 years ago)


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yatesdog38
Mississippi St. Fan
in your head rent free
Member since Sep 2013
8228 posts

re: Friendly advice requested from the CFPs here - course and exam related.
just wanted to say congrats on your initiative. Good Luck I plan on starting the process next year. I was gonna begin in March of next year and do everything online via Kaplan. if anyone has experience with their CFP stuff I'd appreciate it. Seems cheap and enough materials to pass. I don't have kids so I figured it would take me 9 months.

I would also appreciate any tips. So chime in.


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SippyCup
New Orleans Saints Fan
Member since Sep 2008
3191 posts

re: Friendly advice requested from the CFPs here - course and exam related.
What can an advisor do with a CFP that they can’t without?

I’m a cpa and I get these guys from EJ, Lynch, etc stopping in all the time telling me they have high net worth clients they would like to recommend to me, blah blah blah....but I’ve never paid attention to their credentials.

I just did a quick search and the three advisors I usually refer clients to only one lists that he is a CFP.


UpstairsComputer
LSU Fan
Prairieville
Member since Jan 2017
681 posts

re: Friendly advice requested from the CFPs here - course and exam related.
quote:

What can an advisor do with a CFP that they can’t without?


Not a damn thing, but it's less likely they're a douche bag salesman.




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