Getting Started

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Most people think all financial planners are "certified," but this isn't true. Anyone can call themself a "financial planner." Only those who have fulfilled the certification and renewal requirements of the CFP Board can display the CFP® certification marks, which represent a high level of competency, ethics, and professionalism. The CFP Board supports a uniform fiduciary standard of conduct for all personalized investment advice. This fiduciary standard of conduct puts your interests first.

CFP® Certification Requirements

Unlike many financial advisers, CFP® professionals must develop their theoretical and practical knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by the CFP Board.

Applicants may also satisfy the education requirement by submitting a transcript review or previous financial planning-related course work. Or, they can show that they have attained certain professional designations or academic degrees that cover the important subjects in CFP Board's financial planning curriculum.

CFP® professionals must pass the comprehensive CFP® Certification Exam, which tests their ability to apply financial planning knowledge to real-life situations. The exam covers the financial planning process, tax planning, employee benefits, and retirement planning, estate planning, investment management, and insurance.

The average pass rate for this difficult exam is only 56%. This comprehensive exam ensures that Certified Financial Planner™ professionals are highly qualified to develop a plan for your finances.

Certified Financial Planner™ professionals must have a minimum of three years’ experience in the financial planning process prior to earning the right to use the CFP® certification marks. This hands-on experience guarantees that CFP® professionals have practical financial planning knowledge, so you can count on them to help you create a realistic financial plan that fits your individual needs.

When it comes to ethics and professional responsibility, Certified Financial Planner™ professionals are held to the highest of standards. CFP Board's Code of Ethics outlines CFP® professionals' obligations to uphold principles of integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence.

The Rules of Conduct require CFP® professionals to put your interests ahead of their own at all times and provide their financial planning services as a fiduciary, acting in the best interest of their financial planning clients. CFP® professionals are subject to CFP Board sanctions if they violate these standards.

CFP Board's rigorous enforcement of its Standards of Professional Conduct - including releasing disciplinary information to the public distinguishes the CFP® certification from the many other designations in the financial services industry. Everyone who seeks CFP® certification is subject to a background check, and those whose past conduct falls short of the CFP Board's ethical and practice standards can be barred from becoming certified.

After attaining certification, a CFP® professional who violates the CFP Board's ethical and practice standards becomes subject to disciplinary action up to the permanent revocation of certification. Through diligent enforcement of its ethical and practice standards, CFP Board provides you with the confidence that your CFP® professional is both competent and ethical.

What to Bring to Your First Meeting

The more we know about your financial picture the better we can advise you. To get the most out of your first meeting, bring your current information and paperwork. The following is a list of important documents to include:

Warnick & Cain Financial Advisors

Financial Documents

  • Bank & savings account statements.
  • Investment account statements.
  • Credit card balances with interest rates.
  • List of stocks held outside of brokerage accounts.
  • Details of partnerships interest.

Retirement Planning Documents

  • Recent IRA, ROTH IRA, 401(k), 403(b) statements.
  • Social Security Statement.
  • Employee benefits program description.
  • Deferred compensation and stock option agreements.
  • Pension and profit-sharing statements.

Property Owned

  • Description and value of primary residence and other real estate.
  • Mortgage balance and/or loan payment information including monthly payment, interest rate, years left to maturity.

Asset Protection Documents

  • Life insurance details including, name of the insured, death benefit, type of policy, cash value.
  • Summary of medical, homeowners and auto insurance policies.
  • Summary of disability, umbrella and long-term care insurance policies.
  • Annuity policies and statements.

Estate Planning Documents

  • Copy of your Will.
  • Durable powers of attorney and health care powers.
  • Copies of trust documents.

Tax Planning Documents

  • Tax return for the previous year.
  • W-2s from the previous year and a recent pay stub.
  • Estimated required tax payments for the current year.