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CFP Board Adds Psychology of Financial Planning to Exam Topics
Prospective certified financial planners need to understand psychology and behavioral finance.
Author:
Apr 26, 2021 7:30 AM EDT
The Certified Financial Planner Board of Standards (CFP Board) recently added a new category titled “Psychology of Financial Planning” to the list of topics that prospective certified financial planner certificants will need to know to pass the CFP exam.
The updated topic, which will require knowledge of client and planner attitudes, values, and biases; behavioral finance; sources of money conflict; principles of counseling; general principles of effective communication; and crisis events with severe consequences, will be integrated in the education requirements for CFP certification and assessed on the CFP exam starting in March 2022.