What is a Chartered Financial Consultant?

Malcolm Tatum
Malcolm Tatum
Malcolm Tatum
Malcolm Tatum
Chartered financial consultants possess a minimum of three years in the financial industry.
Chartered financial consultants possess a minimum of three years in the financial industry.

Chartered financial consultants are accounting and economic professionals who have completed a comprehensive program that involved formal education, practical experience, and detailed exams in order to be recognized as highly skilled in their fields of expertise. Developed and operated by the American College of Bryn Mawr, ChFCs are trained to provide advice and service related to insurance, taxes, estate planning, and retirement planning, among other things. The successful applicant to the chartered financial consultant program will exhibit a great deal of dedication and expertise, and be prepared to undergo a great deal of scrutiny before achieving the status.

Some financial consultants focus on retirement planning and investments.
Some financial consultants focus on retirement planning and investments.

There are several essential elements that any applicant must possess in order to be considered for inclusion in the program. First, the potential chartered financial consultant will need to possess a minimum of three years of experience in some aspect of the financial industry. Along with practical work experience, a successful candidate for the chartered financial consultant program will find the process much easier when he or she has obtained some sort of degree that is related to finance and investing. Prior formal education is not necessarily a prerequisite, but it will help to make the actual examinations much easier to understand and complete. Often, it is recommended that the applicant possess at least a two-year degree before making an application.

The final examination before the status of chartered financial consultant is granted will be highly detailed. Sections of the exam will address such important aspects as insurance, investment, and tax planning, as well as general estate planning and day to day financial matters, such as budgeting. Generally a ChFC is understood to have a well rounded understanding of financial matters, and is able to relate the creation of a responsible fiscal condition as part of achieving that condition. Many people who want a full service consultant will automatically look for a professional that has earned the status of a chartered financial consultant.

Malcolm Tatum
Malcolm Tatum

After many years in the teleconferencing industry, Michael decided to embrace his passion for trivia, research, and writing by becoming a full-time freelance writer. Since then, he has contributed articles to a variety of print and online publications, including , and his work has also appeared in poetry collections, devotional anthologies, and several newspapers. Malcolm’s other interests include collecting vinyl records, minor league baseball, and cycling.

Malcolm Tatum
Malcolm Tatum

After many years in the teleconferencing industry, Michael decided to embrace his passion for trivia, research, and writing by becoming a full-time freelance writer. Since then, he has contributed articles to a variety of print and online publications, including , and his work has also appeared in poetry collections, devotional anthologies, and several newspapers. Malcolm’s other interests include collecting vinyl records, minor league baseball, and cycling.

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Discussion Comments

ewonoprabowo

Once you're licensed as ChFC, where can you find a job?

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    • Chartered financial consultants possess a minimum of three years in the financial industry.
      By: Andrey Burmakin
      Chartered financial consultants possess a minimum of three years in the financial industry.
    • Some financial consultants focus on retirement planning and investments.
      By: nyul
      Some financial consultants focus on retirement planning and investments.