DSFP EXPERIENCE REQUIREMENTS

To be successful as a DSFP professional, you must have the right experience. There are multiple paths to fulfill this requirement and it can occur before or after completing your exams. we ask that all our candidates obtain at least two years of experience in one of the areas below. If you have no university degree or other educational certifications then we ask the the candidate has five years of education in these areas:


  • ACCOUNTING
  • COMPUTER SCIENCE 
  • ASSET MANAGEMENT  AND FINANCE
  • CONSTRUCTION OR REAL ESTATE DEVELOPMENT 
  • ENGINEERING AND SUSTAINABILITY 
  • CRYPTOGRAPHY 
  • ENVIRONMENTAL SCIENCE 
  • BANKING



WHAT QUALIFIES AS WORK EXPERIENCE?

To be considered a qualified candidate, applicants must have at least five years of  experience in the relevant CMSSA approved industry sectors above. However, if you don't meet this requirement, obtaining a four-year college degree or equivalent and an additional credential from the CMMSA approved educational certification list will suffice as one year towards meeting this prerequisite.


Furthermore, whether it's an MBA or PhD earned, each educational credit from an accredited university can equate to one year of work experience.

INDUSTRY EXPERIENCE QUALIFICATIONS

FULL-TIME EXPERIENCE: To earn a full month of work experience, you are required to complete at least 35 hours/week for four consecutive weeks in the CMSSA approved industry sector list above


PART TIME EXPERIENCE: To qualify, your part-time experience must be between 20 and 34 hours a week.


  • 1040 hours of part-time = 6 months of full time experience
  • 2080 hours of part-time = 12 months of full time experience


INTERNSHIP: Whether your internship is paid or unpaid, you must have documentation affirming your role as an intern on either the company/organization's letterhead or (if it is at a school) the registrar’s stationery.

CONTINUING EDUCATION REQUIREMENTS

After you pass the CFP® exam, you have 36 months to complete your experience requirements to keep your certification. CE will accumulate at a rate of 1 hours per month until all prerequisites are satisfied. You must fulfill any accrued CE prior to earning certification status.

FREQUENTLY ASKED QUESTIONS

Got a question? We’re here to help.

  • WHAT WOULD HAPPEN IF I DON'T HAVE THE REQUIRED EXPERIENCE WITHIN FIVE YEARS OF PASSING MY EXAM?

    If you fail to meet the experience and/or degree requirements for DSFP certification within five years of passing your exam, it is mandatory that you retake the current version of this test. Nevertheless, if needed you can apply for a one-time extension up to three additional years by reaching out via email to our experience department at memberships@cmssa.org on a case-by-case basis.

  • HOW IS PART-TIME WORK COUNTED TOWARDS THE REQUIREMENT?

    Hours are calculated in direct proportion to the approved number of hours worked each week.

  • COULD I COMBINE FULL-TIME AND PART-TIME HOURS IN SEPARATE INDUSTRY SECTORS TO MEET THE REQUIRED EXPERIENCE?

    Unfortunately, even if you hold concurrent part- and full-time financial planning employment positions, it will not expedite the completion of this requirement as no more than 40 hours a week may be credited. However occasionally CMSSA makes exceptions. Please reach out via email to our experience department at memberships@cmssa.org. We will determine your qualification on a case-by-case basis.

  • IF I WORK MORE THAN 40 HOURS A WEEK, CAN I ACCELERATE MY EXPERIENCE REQUIREMENT?

    Unfortunately it will not expedite the completion of this requirement as no more than 40 hours a week may be credited. However occasionally CMSSA makes exceptions. PLease reach out via email to our experience department at memberships@cmssa.org. We will determine your qualification on a case-by-case basis..

  • IF I DON'T HAVE ANY RELEVANT EXPERIENCE, CAN I STILL TAKE THE EXAM?

    Absolutely! You have the opportunity to take and pass the DSFP exam before fulfilling your experience requirement. Additionally, you are given up to five years after successfully passing the test to gain that required expertise.

  • IF I'M LOOKING TO TRANSITION INTO A NEW CAREER, HOW CAN I GAIN THE NECESSARY EXPERIENCE?

    Qualifying experience for DSFP certification may be attained in a variety of practices and firms, such as private practice alone or with other planners, banks, credit unions, insurance companies, accounting or law firms, credit counseling organizations and brokerage firms. Aside from gaining experience through traditional work, individuals can gain this knowledge by doing part-time or volunteer work while pursuing their career goals. For those who are more drawn to the academic world, they could explore a career teaching personal finance in universities. Moreover, some opt for a combination of these activities to broaden their expertise even further.



  • DOES INTERNATIONAL EXPERIENCE QUALIFY?

    Yes. As long as the experience requirements are met, international experience can qualify.

  • DOES WORKING WITH FAMILY QUALIFY?

    No. Unless you are employed by an LLC, clients may not be immediate family members, as defined by FINRA Rule 3240.

  • DOES PROVIDING PRO-BONO AND PAID WORK WITH NON-FAMILY MEMBERS COUNT TOWARDS THE EXPERIENCE REQUIREMENT IF I AM SELF-EMPLOYED?

    Absolutely, as long you meet the Experience Standards. Rather than submitting a supervisor's name and contact information, we will add that of someone who holds one of these certifications or licenses:  "Qualified Attester". To become a 'Qualified Attester', they must hold one of the following accreditations.

    • Certified Financial Planner (CFP®)
    • Chartered Financial Consultant (ChFC)
    • Chartered Life Underwriter (CLU)
    • Chartered Financial Analyst® (CFA®)
    • Ph.D. in business or economics*
    • Licensed attorney – (inactive license acceptable)
    • Licensed Certified Public Accountant (CPA) – (inactive license acceptable)

    *For consideration, a degree from an accredited U.S. college or university is required.

  • WHAT TASKS QUALIFY AS INDIRECT SUPPORT?

    If your activities and roles are relatable to personal financial planning, but do not necessarily involve direct support of the financial planner or process, these can still be considered as applicable experience credit for "Indirect Support." Indirect Support is comprised of occupational paths that have a strong connection with the entire financial planning procedure.

START YOUR JOURNEY TO THE DSFP CERTIFICATION

  • Register and prepare for the exam
  • Qualify for your educational requirements
  • Qualify for the work experience requirements
  • Get access to study resources and candidate materials
  • Register for your test day to take your exam in person
SIGN UP TO REGISTER
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