Designation of Certified Financial Planner - Essay Example

For an individual to access the Certificate of approval from the CFP Board, he/she must possess certain academic qualifications as required by this board for instance: He/she must possess a degree in matters related to financial management as well as accounting issues. Moreover, the degree must have been obtained from an ISO Certified and accredited learning institution. People interested in acquiring the Certified Financial Planning approval certificate are also usually exposed to five-year training, in which they have to pass exams (Brandon & Welch 2009).

There are various advantages ascribed to an individual acquiring this certificate; first of all, individuals approved with the provision of this certificate are considered to have acquired the proper financial management ethics and hence have a higher chance of employment as compared to persons who have not been provided with this certificate. In addition, the acquisition of this certificate is important owing to the fact it is recognized in some parts of Europe i.e. in Britain; hence allowing individuals who possess it to access job opportunities in Britain

Chartered Financial Analyst Designation

This is a program offered to individuals focusing on financial analysis of various economic activities. It is usually offered by an American organization that was formerly referred to as Investment Management & Research. In order to access this charter, an individual must complete the program offered by this organization (Lucas 2010). Such a person will therefore be referred to as a Chartered Financial Analyst certificate holder. This charter certificate is not usually regarded as a degree but rather a program that enhances individuals’ capacity to perform duties pertaining to financial analysis.

Apart from the fact that an individual has to attend the training programs offered to attain the charter certificate, he/she must also possess an experience of two years in regard to financial training and management. Moreover, they must also pass the examinations offered by the CFA Institute. There are various advantages that are associated with an individual accessing the charter certificate. To begin with, he/she acquires more knowledge and skills in regard to financial analysis and management from the training program offered by the CFA Institute (Lucas 2010).

The employability level of chartered financial analysts is also higher in the job market as compared to individuals without this charter. For example; individuals with this certificate have a higher chance of getting employed even in the European job industry as compared to financial analysts without this charter.