Financial Advisor Standards
As a registered member of the National Association of Personal Financial Advisors (NAPFA), Lynch Financial Advisors is the only firm in this group that provides fee-only comprehensive financial planning.
| National Association of Personal Financial Advisors (NAPFA) | Certified Financial Planner | CPA w/ Personal Financial Specialist | Chartered Financial Consultant | |
| Compensation | Fee-Only all of the time | Fees and/or commissions | Fees and/or commissions (with disclosure) |
Fees and/or commissions |
| Education Required for Admission | Three credits of advanced education in each of the following: income taxes, investments, estate planning, retirement planning and risk management | 10-hour, two day comprehensive exam covering more than 100 financial planning topics |
CPA with at least 100 points earned under the multiple entry point system, which includes passing a financial planning exam |
Complete eight financial planning courses |
| Experience Required for Admission | Minimum 36 months engaged primarily in the provision of comprehensive financial planning services within the last 60 months, and including the most recent 12 months | With a bachelor’s degree, three years working in the financial planning field. If no bachelor’s degree, then five years working in the financial planning field |
Minimum of 25 points in PFP experience within the five-year preceding application |
Three years business experience. A bachelor’s or graduate degree may qualify for one year |
| Peer Review Requirements | Peer review of a sample comprehensive financial plan |
None stated | If requested, submit references of financial planning experience |
None stated |
| Continuing Education Required | 60 hours every two years. Includes at least five hours in each of six areas of financial planning. Each hour documented and records subject to audit | 30 hours every two years. Includes at least two hours in ethics. Each hour documented and records subject to audit |
60 points in personal financial planning, business experience and lifelong learning every 3 years |
30 hours every two years |
“The most selective credential is membership in NAPFA” – Newsweek April 2002