[quote=knucklehead]

A funny thing happened today…I netted an even $4,000.00 today. $50,000 ticket paid at 8%, not subject to the grid.

Not a huge day, but not bad either. The funny part is that I did it without being a CFP. How can that be, you ask? It's nothing short of a miracle.

[quote=knucklehead]

A funny thing happened today…I netted an even $4,000.00 today. $50,000 ticket paid at 8%, not subject to the grid.

Not a huge day, but not bad either. The funny part is that I did it without being a CFP. How can that be, you ask? It's nothing short of a miracle.

[quote=rightway] [quote=knucklehead]

A funny thing happened today...I netted an even $4,000.00 today. $50,000 ticket paid at 8%, not subject to the grid.

Not a huge day, but not bad either. The funny part is that I did it without being a CFP. How can that be, you ask? It's nothing short of a miracle.

[/quote]

No, not a miracle.  This is your job, and you get paid for it.  There are no CFP tm certificants taking those trades from you.   There is no doubt people can do well without any designations at all...but that is no reason to NOT pursue them.  There are benefits, both personal and professional, of getting them so putting them down is just a waste of time.
[/quote]

Waste of time and money could be a reason, couldn't it?

[quote=knucklehead][quote=rightway] [quote=knucklehead]

A funny thing happened today...I netted an even $4,000.00 today. $50,000 ticket paid at 8%, not subject to the grid.

Not a huge day, but not bad either. The funny part is that I did it without being a CFP. How can that be, you ask? It's nothing short of a miracle.

[/quote]

No, not a miracle.  This is your job, and you get paid for it.  There are no CFP tm certificants taking those trades from you.   There is no doubt people can do well without any designations at all...but that is no reason to NOT pursue them.  There are benefits, both personal and professional, of getting them so putting them down is just a waste of time.
[/quote]

Waste of time and money could be a reason, couldn't it?

Have you factored in the opportunity cost of diverting your focus? STudying could cost me over $100,000 in lost income! Also, I'm a Master's level accountant. I already feel all warm and fuzzy inside. I don't need a trademarked logo after my name.

anon-

I hope that you aren't saying that it takes 500 hours of study time for the exam alone.  If someone needs that many hours to pass the exam, they should find another profession. 

If someone went through a 'program', to obtain the education requirement they would have to go through 6 classes (some programs have more, but only 6 is required).  They would probably be once a week for 12 weeks and a 3 hour class.  So thats 36 hours per class in attendance alone, & 216 total classroom hours for the entire curriculum. 

Even then, if you need to put in an additional 284 hours of study time for the exam, that seems a little steep. 

If someone were to go and do the online program, they could get it done even faster and easier.  Point being, it's not that much work like people make it out to be.  If everyone knows thier stuff in this business like so many of your claim, this test should be a breeze and you should get it out of the way. 

I may have to agree with Newbie for once, I think that the CFP will be a minimum that most affluent people look for within the next 5-7 years.  Notice I said a minimum.  For youngsters with just a series 7 to be running around, that can be a scary thought. 

The only substitute for credentials is probably experience.  And a good bit of it. 

ribsnwhiskey, I'm just guessing at the study time.  However,  500 hours only equates to 3 months of full time studying.  I'm talking total time to prepare for the exam including classes.

I get asked about the CFP about 3-4 times a year.  I think that I've only been asked once in the last 6 months.  The question never comes from an affluent client.  It seems like the question only comes from DIY type people who have read an article in "Money Magazine" or something similar on 'traits to look for in a financial advisor'

About 5 years ago, I considered getting my CFP because the question was starting to be raised about once a month.  I felt that it would become more of an issue every year.  Curiously enough, the subject seems to come up less frequently each and every year.

The prospects and clients who see no value in the CFP tm designation
will be just fine working with those sales reps without it…so they
will NOT ask about it.  Those prospects and clients that DO value
it will likely never even meet with someone who does not have the
designation…therefore those without never see these people and never
be asked the question.



I am surprised so many people are actively AGAINST the darn thing. 

[quote=knucklehead]

Have you factored in the opportunity cost of
diverting your focus? STudying could cost me over $100,000 in lost
income! Also, I’m a Master’s level accountant. I already feel all warm
and fuzzy inside. I don’t need a trademarked logo after my name.

[quote=rightway] [quote=knucklehead]

Have you factored in the opportunity cost of diverting your focus? STudying could cost me over $100,000 in lost income! Also, I'm a Master's level accountant. I already feel all warm and fuzzy inside. I don't need a trademarked logo after my name.

[/quote]

Why waste the time with a masters in accounting?  That education can and should be learned in real life situations, not in some school books.  Talk about a waste of time and money.
[/quote]

I can schmooze with CPA's...I'm in the club. YOU can't do that.

Nice “club”.  Trust me sport, I don’t need to “schmooze” (whatever
value that adds) with any more CPA’s.  We disagree.  Good
luck and good selling.

[quote=rightway]Nice "club".  Trust me sport, I don't need to "schmooze" (whatever value that adds) with any more CPA's.  We disagree.  Good luck and good selling. [/quote]

Here's the answer...more value than the silly cfp trademark.

[quote=knucklehead]

I can schmooze with CPA's...I'm in the club. YOU can't do that.

[/quote]

What a club. The professional world's equivalent of the High School math club, only slightly ahead, in charm, grace and wit to the insurance salesman’s club.

Say, that makes you a two time winner, eh?

I agree with Rightway, best of luck, knucklehead…

[quote=mikebutler222][quote=knucklehead]

I can schmooze with CPA's...I'm in the club. YOU can't do that.

[/quote]

What a club. The professional world's equivalent of the High School math club, only slightly ahead, in charm, grace and wit to the insurance salesman’s club.

Say, that makes you a two time winner, eh?

I agree with Rightway, best of luck, knucklehead…

[/quote]

Have you guys ever noticed that cpa's give referrals? Did you know that they like the idea that I'm in the club? It gives me an advantage. Jobhopper, how do YOU attract people? Tell them how you've had 10 jobs in 10 years?  

I was asked by a client yesterday what my qualifications are. I was upfront with him and told him I was as young as they come. He asked me "Are you a CFP?" I told him "no I'm not". He asked "Why in the **** would I do business with you?"

I replied simply with this: "There's a guy here who DOES have his CFP, is barely making ends meet and could get fired in a month. Do you want to help him out?"

Needless to say I got hung up on

The truth is there are CFPs out there failing whether people accept it or not. Having a CFP and an extensive vocabulary does not automatically qualify you as an insightful person.

Look at NASDY for proof. He has to prove his worthiness on a message board of all places. Makes it easier to not have to deal with real life.

[quote=anabuhabkuss]I was asked by a client yesterday what my qualifications are. I was upfront with him and told him I was as young as they come. He asked me "Are you a CFP?" I told him "no I'm not". He asked "Why in the **** would I do business with you?"[/quote]

I've paraphrased you here, but I thought it was important for some of the doubters to see this.  I'm a CPA/CFP® and to be honest, I don't know how much business it actually brings me, but I do believe that both help with credibility and there's no doubt in my mind that the extra credibility translates to more clients, more AUM, and more net.

Guess what, Dirk Knuckledragger, you'll never see the above-referenced client because you don't possess the necessary mark...and with your attitude, you're not much of a credit to the club either.

[quote=Indyone]

[quote=anabuhabkuss]I was asked by a client yesterday what my qualifications are. I was upfront with him and told him I was as young as they come. He asked me "Are you a CFP?" I told him "no I'm not". He asked "Why in the **** would I do business with you?"[/quote]

I've paraphrased you here, but I thought it was important for some of the doubters to see this.  I'm a CPA/CFP® and to be honest, I don't know how much business it actually brings me, but I do believe that both help with credibility and there's no doubt in my mind that the extra credibility translates to more clients, more AUM, and more net.

Guess what, Dirk Knuckledragger, you'll never see the above-referenced client because you don't possess the necessary mark...and with your attitude, you're not much of a credit to the club either.

[/quote]

I've made it this far without him as a client and I suppose I can muddle through the rest of my career without him, too. If he had asked me if I were a cfp, I would've told him that I was a CPA and that anyone with a GED can be a cfp.

Well I know you and I don’t agree on this, but I’ll maintain that it’s not exactly a GED-level test.

[quote=Indyone]Well I know you and I don't agree on this, but I'll maintain that it's not exactly a GED-level test.[/quote]

I don't disagree with you. However, there is no barrier to entry for eligibility to take the cfp quiz. You know that, already.

[quote=knucklehead][quote=mikebutler222][quote=knucklehead]

I can schmooze with CPA's...I'm in the club. YOU can't do that.

[/quote]

What a club. The professional world's equivalent of the High School math club, only slightly ahead, in charm, grace and wit to the insurance salesman’s club.

Say, that makes you a two time winner, eh?

I agree with Rightway, best of luck, knucklehead…

[/quote]

Have you guys ever noticed that cpa's give referrals? Did you know that they like the idea that I'm in the club? [/quote]

No doubt your "approach" to business attracts referrals from "the club" .     I envision and exchange like this one;

“ Say, Bob, that guy who says he’s a former CPA that’s been hanging around here, ever refer anybody to him?”

“What, are you joking? Have you ever heard him say anything even remotely professional about the people he deals with? Everything with that guy’s about what he’ll get paid shoving an annuity on them. You wanna put your clients, your career in front of that guy?“

“Good point. Say, any idea what he’s not a CPA now? Some ethical problem?”

[quote=knucklehead][

Jobhopper, how do YOU attract people? Tell them how you've had 10 jobs in 10 years?

[/quote]

Actually, I've had the one job (unlike you, jobhopper, thus no explanation’s been necessary) even though I've moved. Then again, since most clients have moved with me, it hasn't been an issue. As to how I get clients, it's mostly referrals from clients and other professionals. Seems being "part of the club" hasn't hurt, and a great feedback to the referrer from the new clients hasn't hurt either.

Perhaps it comes from looking to do what’s right for the client involved and not on commission rates and payouts. Just a guess…