FPQP Designation

Written by: Nik Ventouris

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FPQP Designation

The financial paraplanner qualified professional (FPQP) designation is a specialized certification in the financial services industry designed to equip professionals with the tools and knowledge necessary to excel in support roles.

This article will guide you through what the FPQP designation entails, outlining the process of how to become an FPQP and helping you decide if this designation aligns with your career goals.

Whether you’re a seasoned financial professional looking to broaden your skills or a newcomer seeking a solid foundation, this guide will give you the key insights necessary to make an informed decision.

What is FPQP Designation

The FPQP designation is a certification offered by the College for Financial Planning (CFFP) that equips professionals with the financial planning knowledge and skills they need to work as paraplanners.

This certification emphasizes the practical application of key financial planning concepts, including:

  • Personal Finance Basics: These introductory concepts help people with no prior experience get started with the financial planning process
  • Six Foundational Topic Areas: The six key topics covered are business ownership, cash management, insurance basics, investments, retirement planning, and estate planning

This designation is an excellent starting point for newcomers to financial planning because it’s designed to provide hands-on, foundational experience rather than professional-level expertise.

Unlike most paraplanners, FPQPs have a formal certification that sets them apart from their industry peers. This formal education demonstrates their expertise and allows them to provide more valuable financial planning services.

Recommended Study Materials

Interested in starting your FPQP studies? We recommend having a look at Kaplan’s in-depth study materials.

4.7 out of 5 starsKaplan Financial

How to Become a FPQP

Becoming an FPQP is a straightforward journey that then enables candidates to hold supporting roles within the financial planning industry.

Keep reading for an overview of the key steps involved.

FPQP Requirements

All FPQP applicants must meet the requirements outlined below:

  • Complete the education program: All candidates must complete the FPQP education program, which requires around 144 hours of self-study
  • Pass the exam: Candidates must attempt the FPQP final exam within six months of enrolling in the education program and pass it within one year. The exam includes 75 questions, and the minimum passing score is 70%
  • Pay all applicable fees: Enrolling in the education program costs $1,350, which includes all study materials and access to optional live classes. FPQPs also must pay a $95 biennial fee to renew their certification
  • Complete continuing education: Successful candidates must maintain their certification by completing a minimum of 16 hours of continuing education every other year
  • Adhere to a professional Code of Conduct: Finally, all certified FPQPs must adhere to standards of professional conduct stipulated by the CFFP

Whether you’re new to the industry or just looking to deepen your knowledge, this designation can provide a valuable asset for your career. By meeting these requirements, you can show employers you’re both qualified and dedicated.

Ready to get started? StateRequirement recommends having a look at Kaplan’s study materials and resources.

4.7 out of 5 starsKaplan Financial

Is the FPQP Designation Right For You?

Determining if the FPQP designation is the right choice for you will depend on a number of factors — which have been outlined in more detail below.

Career Opportunities

The FPQP designation opens up new avenues for individuals seeking careers as paraplanners or in support roles within financial planning. If these specific roles resonate with your career interests, this certification can help you stand out.

By demonstrating a specialized knowledge and understanding of financial planning support, you show potential employers you have the expertise needed to contribute effectively to a team — which greatly enhances your employability in these positions.

Salary Expectations

Holding the FPQP certification may lead to opportunities for higher earnings. But, keep in mind that salaries in the financial planning field can vary widely based on factors like location, experience, specialization, and the employer’s size and reputation.

It’s essential to thoroughly research the salary ranges within your region and the specific type of financial planning organization you wish to join. In any case, the FPQP certification serves as a bargaining tool for a higher salary because it shows your commitment to the profession and enhanced skill set.

Skills Advantage

For those aiming to develop a practical understanding of personal financial planning, the FPQP certification can provide an excellent foundation.

It includes comprehensive training in several areas, such as budgeting, investment planning, risk management, and health insurance investment basics. It also equips candidates with the knowledge and tools to analyze financial situations and create tailored plans for individuals, making them an asset to any financial planning team.

Future Education

If you’re considering furthering your education in the financial planning field, the FPQP certification offers a number of distinct advantages. For example, it offers credits for completing FP511 in the Certified Financial Planner (CFP) program.

This not only gives you a head start in pursuing further financial planning credentials, but also aligns well with your ongoing professional development. It can help you create a seamless pathway for career growth by linking foundational skills with advanced studies to ensure you’re always positioned at the forefront of your profession.

Ultimately, understanding your unique situation is crucial in determining if the FPQP certification is the right fit for you.

If you decide to pursue the FPQP certification, it’s essential you take advantage of reputable online courses because they’re one of the most effective tools to help you get qualified quickly.

Ready to get started? StateRequirement recommends having a look at Kaplan’s study materials and resources.

4.7 out of 5 starsKaplan Financial

FPQP Designation FAQ

What is the difference between FPQP and CFP?

The CFFP designed the FPQP certification for candidates seeking to provide advice to clients as part of an effective financial planning team. In contrast, the CFP certification supports those who provide direct advice to clients. Your career goals and the level of client interaction you desire are important factors to consider when deciding to pursue one of these qualifications.

What is the FPQP designation?

The FPQP designation is a certification that helps professionals work as financial paraplanners. It provides a practical understanding of key financial planning concepts, setting you apart from other paraplanners without formal certification. Interested in learning more? Check out our FPQP Designation article.

How long does it take to study for the FPQP?

The FPQP program requires around 144 hours of self-study. While designed for candidates to complete at their own pace, you must attempt the final exam within six months of first enrolling and pass it within a year.

What is the difference between a paraplanner and a CFP?

The primary difference between a paraplanner and a CFP is the required qualifications. Because a CFP works directly alongside clients to provide comprehensive advice, they need a more extensive education and more experience. In contrast, FPQPs will require a more formal certification in order to qualify to assist financial planners in more client-facing roles and jobs.

What is the highest level of financial planner?

The financial planning field has a variety of professional designation programs. The right choice(s) for you will depend on your specific career goals and interests. Financial advisors aspiring to work as wealth managers often consider the CFP designation a high-level certification, depending on their goals. Are you interested in learning more? Check out our How to Become a Wealth Manager article.

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For all related articles, have a look at our Financial Advisor Resources page.