The PFP staff at the AICPA, the National Accreditation Commission, and the PFS Credential Committee, have created a pathway to the PFS specific to the CPA financial planner. This program includes education, exam review and culminates in the new PFS Exam.
The requirements to obtain the PFS credential have been updated as well. Click here for a detailed summary of the changes. The current requirements are:
· Education - 80 hours of PFP education
· Experience – 2 years full-time PFP experience
· Exam - qualifying exams include the new PFS exam, or the CFP or ChFC exams. The Series 7, 65, and 66 and CFA exams, which are currently accepted as qualifying exams, will be phased out as of December 31, 2010.
If you feel you do not currently meet PFS qualifications, visit the PFS Pathway information page and the general information on the PFS Credential.
To apply, download the PFS Credential Application Kit (includes everything needed to apply for the credential). Click here for a pdf of the 2-page PFS Application
Complete the application and fax to (800) 362-5066 or email/scan to pfs@aicpa.org. International applicants – fax number - (919) 419-4795
Until 12/31/2010, CPAs who do not have one of the qualifying exams for the PFS credential might consider one of the NASD exams that do not require FINRA member firm sponsorship: the Series 65 or the Series 66.
Series 65 or 66 exam information for individuals without FINRA firm sponsorship:
FINRA website on qualifications and exams – click here
NASAA website on Series 65 & 66 resources – click here
The examinations are administered by FINRA. The process to schedule an examination is as follows:
1) Individuals should file an online or paper Form U-10 with FINRA with the appropriate fee.
2) Once registered, FINRA will open a 120-day window within which the exam may be scheduled.
3) For a list of current sites to take the FINRA exams, click here.
Series 65 and 66 exam preparation
Study outlines are available on the NASAA webpage: Series 65 Series 66
Private vendors that provide study materials are listed on the NASAA webpage here.