Originally Posted by
Varsity
CFP is the gold standard of nothing. Aka "couldn't cut it in professional finance" or "scrambling for a job after partying through undergrad".
CFA and CPA are all that matter. Maybe CAIA if you're in some offbeat private equity profession. The rest are a joke.
Read "A random walk down wallstreet". It's all an airline pilots will ever need to know about investing.
-someone who worked in investment banking on wallstreet.
Not true. CFPs are more than just a test. They require a degree in the financial field, years of work experience under supervision and continuing education. This is one of the few designation that actually requires commitment. On the other hand I can go take a series 65 test for my “registered investment advisor” certificate by taking a weekend course and then passing the test. Same goes for insurance. This is kind of like the equivalent of taking an FAA written and then being considered a pilot. The CFP requires the training and experience. CFPs are geared towards individual financial planning. The counterpart to this is the CFA but they’re aimed more towards instituational investing and analysis. This doesn’t mean all CFPs are ethical, so you gotta find someone on a fee only basis and not assets under management basis, unless that’s something you want.
https://corporatefinanceinstitute.com/resources/careers/designations/cfp-vs-cfa/