The members of the commission will be announced early next year. They will be chosen from among individuals in financial services firms; educators; certification and credentialing professionals; and other stakeholders, including members of the public. The changes recommended by the commission will be published for public comment, and the public comments will then be reviewed. Ultimately, it is up to the board to adopt any changes.
The changes could mean CFP mark holders will have to work harder to achieve and retain certification, Keller said.
“This is the 50th year of our certification process, and it makes sense that we take a holistic look at the requirements to make sure CFPs are adequately prepared,” Keller said. Some changes have been made over the years, but a complete review has not been done.
“The review of the Code of Ethics and Standards of Conduct that was done was important. This is just as important,” Keller said. “Earning the CFP designation is voluntary, and we want to make sure the work that advisors put in is worth it.”