Is Your Financial Advisor Board Certified? Here’s Why It Matters
By: Max Valavanis, CFP®
Every fall, Americans get swept up in CFP (College Football Playoff) fever. We’re fixed on our TVs, arguing over rankings and relishing every touchdown. I’m a college football fan myself, but there’s another CFP that deserves your attention, and it has far more to do with your retirement than your Saturdays. In my world, CFP® stands for CERTIFIED FINANCIAL PLANNER™, and unlike the football version, nobody earns a spot on reputation alone.
A CFP® professional is a financial advisor who has gone beyond basic licensing to prove their expertise in financial planning. That means looking at a client’s entire financial picture: retirement, investments, taxes, insurance, and even estate planning. As we put the pieces of your financial puzzle together, every recommendation has to be in your best interest. That’s because CFP® professionals are held to a higher standard when providing financial advice.
Think about how you would choose a doctor. A medical license means a doctor can practice, but board certification means they went further and proved their expertise in their specific medical field. The CFP® mark means the same thing in financial planning. Earning it requires a bachelor’s degree, 6,000 hours of hands-on planning experience, and seven courses covering the core areas of financial planning. Then comes the exam itself. In July 2026, only 66% of candidates passed, a lower rate than first-time takers on this summer’s Florida Bar exam.
Passing the exam is only the beginning. As CFP® professionals, we must keep learning throughout our careers. Strategies, regulations, and technology are always evolving, and we have to evolve with them. That’s why we complete continuing education every two years, including ethics training that strengthens our commitment to clients. Just as your doctor owes you a duty of care, a CFP® professional must act in a higher standard of care. You’d trust your heart to a board-certified cardiologist. Shouldn’t your life savings get the same treatment?
If you currently have a financial advisor, do you know what standard they’re held to? If not, ask them two simple questions: “What credentials do you hold?” and “Are you held to a fiduciary standard or a best-interest standard?” The two may sound alike, but they aren’t. A best-interest standard applies when a recommendation is made. A fiduciary standard goes further, requiring an ongoing duty of loyalty and care throughout your relationship. That means your advisor must put your interests ahead of their own.
As you cheer on your favorite team this season, remember that every winning team starts with a game plan, and your financial future deserves one too. If you’d like to learn more about what it means to work with a CFP® professional, or you’d like a second opinion on your situation, I’d welcome the conversation. You can meet with me in our Melbourne office, by phone, or over Zoom. Call (321) 956-7072 or email max.valavanis@jwcemail.com to schedule a time.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). ValaVanis Financial and JWC/JWCA are unaffiliated entities.