Congratulations to Nicole Swanson for earning the CFP® designation!
Wednesday, 17 April 2019
Nicole Swanson joined the team at Flourish Wealth Management in October 2018 as Wealth Manager, working to directly support clients as they build long-term plans for the future. She graduated from the University of Wisconsin Madison with a Bachelor of Science in Personal Finance. Nicole has remained dedicated to growing her financial planning knowledge and developing tools to support our clients. It is an impressive accomplishment to become a CFP® practitioner, adds a lot of value to our team, and we want to share some of Nicole’s journey.
After spending over 200 hours studying for the exam over the past few months, including a 35-hour review class and multiple practice exams, Nicole was able to pass the grueling 7-hour exam! This is a testament to her studies in a Financial Planning program at UW-Madison, experience in the profession and her prep work, as the average pass rate for this exam was 60%. When asked for some perspective on achieving the CFP® designation, Nicole stated that “it was important to me to obtain my CFP® because it helps differentiate myself compared to other financial advisors and it instills additional confidence in my clients that I have the expertise to help them reach their goals. I am excited to apply my new knowledge base to my clients’ needs.”
As an acronym – the CFP® credential stands for CERTIFIED FINANCIAL PLANNER™. Its use is strictly regulated by the CFP Board, which was established in 1985, with roots dating back to the 1960s.
As a credential – It ranks right up there with a CPA or MBA in terms of sweat equity. To even apply for certification, an individual must:
- Have a bachelor’s degree or better from a U.S.-accredited institution
- Pass 7 exams in topics ranging from financial planning, tax, retirement plans, estate planning and more. Then pass a cumulative exam on all 7 topics.
- Complete 4,000–6,000 hours of real-world financial planning experience
- Pass a background check and sign an Ethics Declaration
- As an ongoing designation – a CFP® practitioner can’t rest on their laurels after passing the test. They must complete at least 30 hours of continuing education every two years, participate in their local financial planning community, and fulfill their ethics commitment.