No changes to the continuing education (CE) requirements for CFP certification will be immediately forthcoming, the directors of the Certified Financial Planner Board of Standards, Inc. have announced.
The board is seeking “further review of previously proposed changes before making any modifications,” the organization said in a release.
At its November meeting, the board resolved to call on the Council on Education (Council) and staff at CFP Board to “study and develop recommendations on the appropriate level of CE to maintain CFP professionals’ competency for the benefit of the public.” Additional public comments will be sought when proposed changes are developed.
In August, CFP Board requested public comment on proposed changes to its CE requirements. CFP Board originally proposed a number of changes that included increasing CE requirements from 30 to 40 hours every two years; increasing the CE ethics requirements from two to four hours; granting some CE credit for practice management courses and for pro bono activities; and expanding professional activities that qualify for CE.
CFP Board received a record number of comments – more than 1,100 – in response to its proposed changes with the majority being reflective and providing pragmatic viewpoints. Eighty-five percent of those commenting opposed increasing the CE requirement from 30 to 40 hours.
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