Provides Guidance to CFP Board on Strengthening Exam
WASHINGTON, April 5, 2011 /PRNewswire-USNewswire/ -- Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that Philip L. Fazio, CFP® has been appointed as Chair of its Council on Examinations.
"The CFP® exam is critical to assessing a candidate's ability to apply and integrate the knowledge they've gained from a CFP® registered program and as part of the overall certification process, which includes a thorough background check, three years of experience and agreeing to our code of ethics and professional standards, which are actively enforced," said CFP Board Chief Executive Officer Kevin R. Keller, CAE. "Philip will help us keep the exam relevant, meet the needs of the profession and our own very high standards."
Valid job-related exam topics are developed and exam questions written by item writers that include practicing financial planners and financial planning educators. The exam questions are subjected to a rigorous review by CFP Board's Council on Examinations and other volunteer content experts composed of practicing planners and educators. Each question is answered - and assessed - by practicing financial planners.
"There's no question that the CFP® exam is tough, but for it to truly be an effective measure of someone's competency in financial planning, it needs to be fresh and reflect the real world work financial planners do," Fazio said. "I am very grateful for the opportunity to serve as Chair and assist in the great work being done to raise the bar for our profession."
Fazio is currently a Wealth Manager and Consulting Group Analyst with Morgan Stanley in Florida. He is also an adjunct professor at Florida Atlantic University and Nova Southeastern University teaching courses to prepare students for the practice of personal financial planning and the CFP® certification and is a member of the Financial Planning Association, actively involved with its Broward County chapter. Formerly, Fazio was a volunteer for CFP Board's Disciplinary and Ethics Commission. In addition to earning his CFP® designation, Fazio has earned the CIMA® designation from the Wharton School of Business. Fazio received his MBA in Finance at DePaul University and a Bachelor of Science in Commerce and Engineering Science from Drexel University.
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, Certified Financial Planner™, and the federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 62,000 individuals to use these marks in the U.S.
SOURCE Certified Financial Planner Board of Standards, Inc.