United States
Hong KongRenewal: the annual fee, the CE, and the declaration
Renewal requires payment of the annual certification fee, completion of thirty CE hours every two years including two of ethics, and a renewal declaration confirming your continued compliance and disclosing any reportable events.
Three components, one of which is administrative and two of which have substance.
The fee
An annual certification fee, in the region of USD 455 at the time of writing. Confirm the current amount on cfp.net, since it changes.
Many employers pay it. It is a modest professional expense and it is worth asking about at the point of hiring rather than assuming.
The continuing education
Thirty hours every two-year period, including two hours of CFP Board-approved Ethics CE. Reported to CFP Board, often by the sponsor on your behalf.
The declaration
A confirmation that you continue to abide by the Code and Standards, and disclosure of any reportable events since the last renewal.
This is the part that is not administrative. It is a live statement, and an inaccurate one is a Standards violation.
Specified events must be reported within thirty calendar days of occurring, not at the next renewal. The renewal declaration confirms the position; it is not the mechanism for first disclosure.
The total cost of holding the marks
| Item | Approximate |
|---|---|
| Annual certification fee | USD 455 |
| Continuing education | Nil to a few hundred, often employer-provided |
| Total per year | Around USD 500 in most cases |
Against a median total compensation of USD 195,000 reported by CFP Board's own compensation study, that is a small ongoing cost - though it is CFP Board's figure, and they sell the certification.
If you stop practicing
You may continue to certify while not actively practicing, provided the fee, CE and declaration are maintained. Or you may allow it to lapse and reinstate later, subject to the reinstatement requirements.
Maintaining is usually cheaper and simpler than reinstating, which is worth weighing before letting it go during a career break.
The one that catches people
Assuming an employer paid the fee when they did not, and discovering a lapse afterwards.
Check the confirmation each year rather than assuming. Using the marks while lapsed is a violation regardless of whose administrative failure caused it.
CFP® is a registered mark of Certified Financial Planner Board of Standards, Inc. We are not affiliated with, or endorsed by, CFP Board. Confirm requirements against cfp.net, which is the authority.
Common questions
What does CFP renewal require?
The annual certification fee, thirty continuing education hours every two years including two of ethics, and a renewal declaration confirming continued compliance.
How much is the annual fee?
In the region of USD 455 at the time of writing. Confirm the current figure on cfp.net, and check whether your employer pays it.
Is renewal the time to disclose reportable events?
No. Specified events must be reported within thirty calendar days of occurring. The renewal declaration confirms your position rather than being the first disclosure.
What does it cost to hold the marks each year?
Around USD 500 in most cases - the annual fee plus continuing education, which employers frequently provide.
What if you stop practicing?
You can continue to certify while not practicing by maintaining the fee, CE and declaration, or let it lapse and reinstate later. Maintaining is usually cheaper and simpler.