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2021 Financial Planning Competency Framework

The document outlines the Financial Planning Competency Framework and Definitions effective from June 2021. It details various competency clusters such as Consulting, Emotional Intelligence, Coaching, Client Advocacy, Integrity, Professionalism, Financial Needs Analysis, Financial Advice, and Technological Savvy, each with specific definitions. The framework emphasizes the importance of ethical conduct, client well-being, and the use of technology in financial planning.

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Hải Thanh
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3 views

2021 Financial Planning Competency Framework

The document outlines the Financial Planning Competency Framework and Definitions effective from June 2021. It details various competency clusters such as Consulting, Emotional Intelligence, Coaching, Client Advocacy, Integrity, Professionalism, Financial Needs Analysis, Financial Advice, and Technological Savvy, each with specific definitions. The framework emphasizes the importance of ethical conduct, client well-being, and the use of technology in financial planning.

Uploaded by

Hải Thanh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FINANCIAL PLANNING

COMPETENCY FRAMEWORK
AND DEFINITIONS
(EFFECTIVE 2021)

PUBLISHED JUNE 2021


FINANCIAL PLANNING COMPETENCY FRAMEWORK

IN
TE
ER R
T P
S E
U

R
Technological
L

Coaching

S
C

Savvy

O
L

N
CA

AL
Financial Emotional
Advice Intelligence
TECHNI

CLUSTER
FINANCIAL
Financial PLANNING
Needs COMPETENCY Consulting
Analysis
FRAMEWORK

Professionalism Client
Advocacy

Integrity
L
E R
A E
D E
R S H U ST
I P C L

Questions? Please contact [email protected] | Financial Planning Competency Definitions 2


FINANCIAL PLANNING COMPETENCY DEFINITIONS
COMPETENCY CLUSTER COMPETENCY DEFINITION

The ability to communicate clearly, provide effective


guidance, and present technical information in a manner
Consulting
appropriate for clients and stakeholders; empower clients to
make informed decisions.

Emotional The ability to establish trust with clients by demonstrating


Interpersonal
Intelligence empathy, sensitivity, and commitment to client well-being.

The ability to assist clients in setting appropriate financial


goals and proactively facilitate goal-attainment; encourage
Coaching
and assist clients in making healthy financial choices and
manage emotions.

The ability to lead, coordinate, and monitor work across


Client
a team of allied financial professionals; demonstrate
Advocacy
accountability for acting in clients’ best interests.

The ability to achieve high standards of ethical conduct,


Leadership fulfill the fiduciary duty, and uphold the Code of Ethics and
Integrity
Standards of Conduct; treat clients, prospective clients,
fellow professionals, and others with dignity, courtesy, and
respect.

Demonstrate commitment to professional excellence,


Professionalism
to clients, to CFP board, and to continual learning.

Financial Needs The ability to effectively gather information to identify and


Analysis prioritize clients’ financial needs and goals.

The ability to develop and optimize financial solutions


Financial
to underlying client needs and circumstances; formulate
Advice
Technical objectives and create action plan.

The ability to effectively select and use financial planning


Technological software, mathematical modeling, and simulation tools
Savvy and techniques to support financial scenario planning and
reporting.

Questions? Please contact [email protected] | Financial Planning Competency Definitions 3


1425 K St NW #800 Washington DC 20005
p 800-487-1497 | f 202-379-2299
[email protected] | CFP.net

2021 Certified Financial Planner Board of Standards, Inc. All rights reserved.
©

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