*Ostroff, Fair and Company>>>Financial Services

Which is better to have, the Certified Financial Planner designation, or the Chartered Financial Analyst?

Or are they more or less the same?

CFP

Though I am not a professional in the financial field I believe neither is necessarily better. Becoming a CFA at one time was my goal and it involves a certain ability to deal with the many negotiable and other securities available as necessary to make important business decisions at a high level of complexity. Assuredly a CFA is capable of making decisions related to Financial Planning as well. I believe the CFP spends the majority of his/her time dealing with individuals portfolios for purposes such as assuring adequate retirement, educational and insurance needs are met. Certainly you need to identify what field you wish to engage in before deciding which designation to attain. Peter
The CFA indicates at least a modicum of intelligence; the CFP indicates that you know how to trick people into paying you for buying index funds.
If you are thinking about getting into personal financial planning, the CFP is the most prestigious designation in the field.

If corporate finance or investment banking is your goal, go for the CFA.

Both are extremely difficult exams (CFP is a two day exam and CFA is a 3 part exam). Be sure you know where you want to be before you start one or the other.

Ron, ChFC
Don't listen to the people who say CFP. Even if you dersire to have a career as a financial planner the CFA is better. The CFP basically states that you sat in a class for a year and paid the bill (meaning the test is a joke). However the CFA shows that you have the desire and mental aptitude to succeed. The CFA also covers most of the CFP classwork anyway.
Intern at financial advisory firm. My boss even told be the CFP destinction is a joke.
CFAs are generally analysts that work for mutual fund companies on the analyist level. They analyize stock fundamentals. CFPs work with the general public and translate what the CFAs say into laymans terms. CFPs work with the public, CFAs work with financial professionals.

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