| Topic Name: |
CFP Starting Salary |
| Message Name: |
Big difference |
| Date Posted: |
01/17/2006 |
| In Reply To: |
Can a small-fry advisor or manager from the FAC easily become a member of a successful branch FA team if they have their CFP and or CFM?
Technically, what is the difference bewteen a CFM and CFP? Which designation is more valuable to take one further up the career ladder? |
| Message: |
The CFM actually encompasses one of the six modules that comprise the CFP. The CFM has no application or recognition beyond Merrill. The CFP is recognized everywhere and brings enormous credibility throughout the business. The CFP comprehensive final exam is very, very difficult (I had a 720 GMAT and scored a 98% on my series 7, the CFP was probably the hardest test I've ever taken). If you have a solid referral from your manager and also your CFP you could probably get a branch FA position. Getting on a team would be entirely a function of your own ability to network within the office and find someone you're compatible with. For the first 3 or 4 years you may not earn much more than you do at FAC.
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