New Financial Planning Major is now a CFP Board Registered Program

by Dr. C. Michael Smith '97, lecturer in Business Administration

Demand for personal financial planning is large and growing in America.  Professionals working in this field make a difference in their communities by helping individuals and families build wealth and manage their financial challenges.  For this aid, it is estimated that professionals beginning their careers in financial planning will earn between $50-70,000 per year, growing to approximately $190,000 as their careers mature.  And financial planners who hold CERTIFIED FINANCIAL PLANNER™ certification earn 12% more than their non-certified colleagues.  Many financial planners also enjoy tremendous flexibility to manage their time as they see fit in their personal lives, while enjoying balance, security, and variety in their professional lives.  

With the tremendous personal and financial incentives, it is no surprise that the number of financial planning professionals continues to grow.  And many of these professionals will desire to set themselves apart from their competition.  This is where a CERTIFIED FINANCIAL PLANNER™ certification can add significant value.  In fact, a recent survey found that eighty-six percent of consumers prefer an advisor who has passed the CFP® certification exam and rigorous education program.  A CFP® certification is known as the standard of excellence in the financial planning profession.  

Earning CFP® certification is an important investment for a rewarding career in financial planning, and the requirements are quite demanding.  Applicants must meet four requirements:

1. Education – Successfully complete financial planning coursework through a registered program and hold a Bachelor’s degree or higher degree.
2. Exam – Pass the comprehensive six-hour (170 question) CFP® exam.
3. Experience – Complete 6,000 hours of related experience or 4,000 hours of apprenticeship experience under the supervision of a CFP® professional.
4. Ethics – Pass a background check and sign an ethics statement that includes a commitment to CFP Board to act as a fiduciary at all times when providing financial advice to a client. This means they have agreed to put their clients’ best interests first, so they can provide them with confidence today and a secure tomorrow.

CFP Board Registered Programs are financial planning education programs at regionally accredited colleges and universities that have been approved by CFP Board to deliver the curriculum covering the Principal Knowledge Topics that students must learn to fulfill the education requirement and sit for the CFP® exam.

The Business Administration and Economics Department is excited to announce that the Personal Financial Planning Track of the new Finance Major at Roanoke College has met the rigorous requirements to become a CFP Board Registered Program!  Beginning in the fall of 2024, students will be able to complete the required coursework in personal financial planning that will qualify them to sit for the CFP® exam.  This fantastic opportunity provides students, desiring to pursue the financial planning profession, with tremendous educational value.  Graduates of the new program can be confident in their industry knowledge and should enjoy a remarkable leg up as they begin their careers.  

Roanoke College becomes only the fifth CFP Board Registered Program in Virginia that offers this benefit as a part of a Bachelor’s degree in a classroom/blended format.  Big things are happening at Roanoke College and the new CFP Board Registered Program is just one example of our dedication to continue to provide students with only the best educational experiences.