Relation to the JAFP designations
The relationship between the AFP and CFP® certifications, and the Certified Skilled Worker of Financial Planning, is summarized
in the table below.
The major difference is that the Certified Skilled Worker of Financial Planning lacks the "ethic" and "education" requirements
for certification and renewal, whereas the four Es (Education, Examination, Experience, and Ethics) are requirement for AFP and CFP® certifications. In addition,
renewal is not required in the Certified Skilled Worker of Financial Planning.
Ethics requirement: JAFP established "JAFP Ethical Principles", "JAFP Rules of Conduct" and "JAFP Disciplinary Rules".
The "JAFP Ethical Principles" states that members shall practice in the best interest of the client,
maintain fairness and proper manner of practice, and shall offer their
services with integrity and professional ethical standards. AFP and CFP® certificants must sign a declaration to abide by the JAFP rules. In addition
to these, CFP® certificants must sign a declaration to abide by its own Code of Ethics, Practice Standards
and Disciplinary Rules in order to be certified.
Education requirement (certification and continuing education): A financial planner covers wide
range of areas of services such as financial asset management, home purchase,
education, retirement, real estate investment, risks/liabilities, tax,
estate and business succession planning, in a comprehensive manner. Therefore,
JAFP established the "Study Guide" covering all of these areas
of study.
Candidates must complete the approved education program that is based on
the "Study Guide", which evenly and comprehensively covers the
required areas of professional knowledge, prior to taking the certification
examinations and obtaining the AFP and CFP® certifications.
Additionally, after obtaining the certification, certificants must obtain
the approved continuing education credits, to maintain up-to-date knowledge
and skills, every two years for their certification renewal.
■JAFP certifications and the Certified Skilled Worker of Financial Planning
Relationship of CFP® certification examination and AFP certification examination
The examination of AFP certification, one of the "four Es", is the same as the
2nd grade Certified Skilled Worker of Financial Planning Examination. The CFP® certification examination does not have any relationship to the Skilled Worker Examination, and
it is offered solely by JAFP.
It could be said that AFP and CFP® certifications are granted to those who passed the government certification examination,
and have further met the required continuous self improvement education
based on professional ethical conduct.
■AFP and CFP® certification examination and the Certified Skilled Worker of Financial Planning examination
AFP and CFP® certificants awarded by JAFP are assured to be financial planners who possess sound,
high standards of competency of the "four Es". The added value of AFP and CFP® certification in financial planning qualifications will be in demand in days ahead due
to the Certified Skilled Worker of Financial Planning having been added.
JAFP will continuously foster AFP and CFP® certificants who meet the 4E requirements and further promote the awareness of financial
planners/planning to the public to support the building and managing of
Japanese citizens' assets, and to contribute to the benefit of the society
as a whole.
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