CFP Reimbursement at Smith Barney

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Nov 19, 2005 10:56 pm

Just read in the article on the reg rep home page that Smith Barney will now be reimbursing for FC's who want to study for the CFP exam.  Been asking for this for years and now of course my classes are over and all I have to do is take the test. 

Does anyone at SB have any idea on how this reimbursement plan will work?

Nov 21, 2005 12:53 pm

Hasn't really been announced in total...but don't be concerned about the reimbursement.  Investing in yourself is always money well spent.  I poaid for mine out of my pocket too...and it enabled me to be able to bypass the FPS program in my training.  (I did it anyway...but I was exempt.)

I was surprised to see that SB offered no educational tuition reimbursement for FC's.  The smart a__ed comment found on the HR website that "FC's are expected to be building their book and not going to school" was a little over the top, IMHO. 

Good Luck on the exam.  I recommend a live review couorse, if possible.  The CFP Board seems really proud of the 55-57% pass rate on the exam.  You have worked too hard to have to sit for it more than once.

Nov 21, 2005 1:17 pm

Why would some one at a wire house want it? I have it but I am indy so I can use it! If you are at a wire house they are going to push there money managers on you any way you will not be able to think on your own and if you do you will not be considered a team player! +

Good Luck.

Nov 21, 2005 2:27 pm


I cannot speak for SB but at ML I have not received ANY pressure to sell our money managers.. If anything, there is a greater firm commitment to go the fee based route, but even there we have multiple options that WE can recommend, such as Consults, MLUA, MFA, FDP, etc, etc. There simply is very little pressure to push our in-house...

Nov 21, 2005 5:50 pm

ML has a CFP reimbursement program as well.  In fact, you can
start from scratch, take all modules, get a 4 day review course, and
take the final exam all done in 9 months and get 100% reimbursed for
it…what a deal!