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Financial Designations of Rochester, New York Financial AdvisorsThere are different types offinancial designatiions financial advisors in Rochester can have. Each of these financial designations in the finance industry plays an important role in providing services for both individual clients and business clients.One designation for a Rochester financial advisor can be a certified financial planner. A certified financial planner, or CFP, is a credential in itself that is conferred by the Certified Financial Planner Board of Standards. Rochester Financial Advisors earn the CFP title by completing a course of study that takes 1 to 2 years to complete. The exam is ten hours long and takes up two days to complete. Once those two requirements are met, CFP aspirants must first work for at least 3 years in financial planning and then completing 30 hours of continuing education after every two years. The last qualification is done for recertification. In exchange, CFPs are given the privilege to provide financial advice regarding financial needs, investments, taxes, retirement, estate management, and insurance. CFAs or Chartered Financial Analysts are certified by the Chartered Financial Analyst Institute. The CFA title is earned by completing independent study of 11 topics, ranging from economic analysis and accounting, to portfolio management and quantitative techniques. There are also three exams to accomplish and pass before they can be certified. Upon passing the exam, CFA hopefuls must also be able to accomplish 3 years in the investment industry before providing advice regarding professional money management and securities analysis. Chartered Financial Consultants are also another financial designations of some Rochester financial advisors. Aspirants must first complete a curriculum that totals 8 courses and then work for at least 3 years in the financial services field before being given the ChFC title. ChFCs provide different financial needs, which include taxes, insurance, investments, retirement, and estate planning. There are also Personal Financial Specialists. These financial advisors, which are also abundant in Rochester, give advice regarding risk management, taxes, investments, retirement, insurance, and estate planning. The three things that financial advisors have to go through to become personal financial specialists are passing a comprehensive exam, working for 3 years in order to garner experience, and the completion of 72 hours of continuing education for recertification, every three years. RIAs or Registered Investment Advisors are another type of financial advisor. This registration means that the individual or their employer has received a license to provide investment advice from the Securities and Exchange Commission (SEC), or from a state securities commission. To have Rochester Financial Advisors contact you for free consultations, simply complete the brief questionnaire below: |
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© 2010 Rochester Financial Advisors, All Rights Reserved