Important news regarding CPD requirements for CFP™ professionals

By Lora Benson | Aug 11, 2016
CERTIFIED FINANCIAL PLANNERS™ are required to meet CPD requirements on an annual basis to maintain their CFP™ certification. Two changes are being made to the requirements.
CERTIFIED FINANCIAL PLANNERS™ are required to meet CPD requirements on an annual basis to maintain their CFP certification. Two changes are being made to the requirements:

1. It has been agreed by the IFP Forum Committee and the CISI Membership Committee that the overall minimum number of hours required is reduced with effect from 1 August 2016 from 50 to 35 hours. Although our records show that most planners carry out considerably more hours than the minimum, the 50 hours was an historic anomaly and was more than the Chartered FCSI and Chartered Wealth Manager CPD requirements. The requirement is now a minimum of 35 hours CPD annually with at least 21 hours being structured: This CPD is to include:
   • Professional Standards & Compliance (mandatory - 2.5 hours)
   • Ethics (mandatory - 2.5 hours)
Please note all CISI Members successfully recording CPD with the CISI may be randomly selected for audit.

2. With effect from1 June 2017, all members who hold the CFP certification will be required to record their CPD on the CISI CPD Financial Planning CPD Scheme to enable renewal of the CFP status. The CISI offers its members a free online CISI CPD recording tool which allows its members to record their CPD. To assist members in recording their CPD, all events and online CPD activities undertaken with the CISI are automatically recorded for members on their CISI CPD record.  Further developments to the CPD Scheme planned for this year, will allow members to import other non-CISI CPD activities to their CPD record.
CFP members who currently self-declare their CPD can continue to do so for their current CFP year only, via the CISI CPD Scheme, provided the renewal is before 31 May 2017.

You can find further information on recording CPD here