Just a quick question to those who are familiar with cfa and cfp. My work requires me to complete cfp and I was wondering if it is a good idea for me to take cfa 3 at the same time.
I see a lot of redundancy and I figured if by studying cfp would give me “synergy” when it comes to studying for level 3. If not I will probably take cfa next year after my cfp.
Anyone can give me recommendation?
I wouldn’t do it.
No: there’s not much synergy.
Done both. This would depend on how close together the tests are and how far along you are in the CFP coursework. There is maybe 20% of the CFP material that overlaps with the CFA program. If you are through the CFP coursework and if you can take the CFP exam a couple months after the CFA, then it might work. The CFA is far more difficult. Why would an employer not want you to get the CFA? If you are that far along, that should be the priority. I got through all the CFP course work in six months, it isn’t that hard, just don’t let it pollute the CFA effort.
I am in associate program where the whole program is gear towards getting the cfp designation. So cfp is actually number one priority for me. cfa and cfp are just one day apart from each other so I guess it’s not wise for me to take both next year considering only 20% overlap. Thanks a lot for your input!!!
wow that would be way too much - take cfp and cfa exams one day apart - for any normal humans. If you are one of the smart people then yeah go for it but if not just take the cfa next year.
Also, why L3 and CFP at all? One if for institutional investors/analysts/valuation, etc., and the other is for the retail advisor.
Edit - nevermind.
But IIRC, CFP is offered in November. Take it in November 2017, then start studying for L3 the day after you take CFP. Or take CFP after L3. But, if you have a choice, I would not sacrifice L3 for CFP, since L3 is only offered once a year, and is more difficult than the CFP exam.
(full disclosure - I have never taken teh CFP exam, and probably never will. I did, however, take the PFS exam, which has a similar curriculum, and probably similar in difficulty level.)
maybe the OP is a retail advisor who also manages separate accounts with individual positions just like some of the advisors at large banks who cater to UHNWI. These advisors are more like portfolio managers who have no clue on financial modeling or gaap accounting.