I hold the CFP designation. It took me three years of coursework and an apprenticeship to obtain it.
There are three components to the CFP: the coursework (the planning process, investments, taxes, insurance, retirement planning, and estates), the apprenticeship, and a two day comprehensive exam that covers all of the coursework and is administered by the national board. It varies from year to year, but when I took it, the pass rate was around 50%. It was very, very difficult, at least for me.
My co-worker is working on the level three CFA exam. That stuff makes my CFP look like last week's lunch as far as analysis goes. There have been two CFA charter holders on our ER board, Brewer and Saluki, and I would imagine they could tell you that it is a very small universe of people who can pass those three exams. Mostly they work for mutual fund companies or other research intensive workplaces and rarely in financial planning for ordinary citizens.
CFP certificants can and do work at places like E Jones and the like, but by and large they work in actual advisory firms and not sales shops. E Jones is definitely in the sales shop category.
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