NEWS
NORMAN, OKLA. – The University of Oklahoma has been recognized by the Certified Financial Planner Board of Standards as a registered CFP Certification Education Program. This designation will enable Price College of Business undergraduate students to become certified to help future clients with estate planning, investments, retirement accounts, tax planning and insurance.
“This is a big deal,” said Jim Rauch, an associate professor and director of the wealth management and commercial banking tracks in the Price College of Business’ Division of Finance. “The average age of a certified financial planner is about 55, meaning many are nearing retirement. Plus, there will be $70 trillion changing hands between the older and younger generations over the next 20 years, so the current and future demand for CFP professionals is tremendous.”
According to Rauch, a CFP designation is the gold standard when it comes to financial planning certificates. It allows consumers to be reassured that their advisor is knowledgeable, ethical and works as a fiduciary on their behalf.
“Getting on the fast track to the CFP designation means that OU graduates will be able to get jobs in the financial planning industry more easily. It’s not required to do the job, but it adds a lot of credibility and makes it easier to get a book of customers,” he said.
To become a certified CFP, students take a series of six courses covering 72 financial planning concepts. Once accomplished, they sit for a six-hour, 170-question exam. Finally, before the CFP designation can be added to their name, they must complete 6,000 hours of relevant work experience and adhere to the Board’s ethical standards.
“Our program allows OU students who are serious about financial planning to hit the ground running,” he said. “We’re producing well-rounded future CFPs who have not only completed the six required courses, but over 20 other courses pertaining to finance, accounting, marketing, management, statistics, economics, and more. To me, that’s really exciting.”
Chitru Fernando, director of the Division of Finance and the Rainbolt Chair in Finance, added, “the Price College Finance Division is one of the few business programs in the nation that enables students to obtain a certificate in wealth management while also creating the pathway for them to obtain the CFP certification. Our CFP affiliation follows the recent recognition by the Chartered Financial Analyst Institute of the BBA in finance and MSF in finance as University Affiliated Programs. Finance students also can complete the Securities Industry Essentials certification as part of our Capital Group Fellows program.”
Learn more about Price’s Division of Finance, which houses the CFP Certification Education Program, and about the Certified Financial Planner Board of Standards.
About the University of Oklahoma
Founded in 1890, the University of Oklahoma is a public research university located in Norman, Oklahoma. As the state’s flagship university, OU serves the educational, cultural, economic and health care needs of the state, region and nation. For more information about the university, visit www.ou.edu.
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