Top 10 Financial Assistant Certifications

Certifications are important for financial assistants in the job market because they demonstrate a commitment to professional development and help financial assistants stand out from other applicants. They show that the individual has taken the initiative to gain additional knowledge, experience, and credentials, which can be beneficial in both obtaining a job and performing well once hired. Certifications also give employers confidence that the financial assistant is knowledgeable about relevant topics such as taxes, investments, and accounting principles. Additionally, certifications can open up new career opportunities and help individuals move up in their current positions by showing mastery of certain topics.

The article reviews some of the top certifications for Financial Assistants and explains how they can help to advance a financial assistant's career.

What are Financial Assistant Certifications?

Financial assistant certification is a credential that demonstrates an individual's knowledge and expertise in providing financial assistance. Financial assistant certifications are offered by a variety of organizations, including the American Institute of Certified Public Accountants (AICPA) and the National Association of Personal Financial Advisors (NAPFA).

Having a financial assistant certification can help individuals gain credibility in their field and demonstrate to potential employers that they have the necessary skills to provide professional financial assistance. This certification can also help those looking for a career change or advancement in their current positions. By having this credential, individuals can show potential employers that they have the necessary knowledge and experience to effectively provide financial assistance.

The knowledge gained from obtaining a financial assistant certification can also benefit individuals who are looking to expand their current skill sets. Financial assistant certifications cover topics such as budgeting, investing, taxes, debt management, retirement planning and estate planning. This knowledge can be beneficial in any job involving finance or money management.

In addition to helping individuals gain credibility and expand their skill set, having a financial assistant certification can also increase an individual’s earning potential. Individuals with this credential may be able to command higher salaries or receive more job offers than those without it.

Pro Tip: Before enrolling in a financial assistant certification program, research the course content and make sure it is aligned with your career goals. Make sure the program offers an interactive learning experience that includes real-world application of the material being taught. Additionally, look for a program that provides up-to-date information on industry trends and best practices.

Related: What does a Financial Assistant do?

Top 10 Financial Assistant Certifications

Here’s our list of the best certifications available to Financial Assistants today.

1. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given to financial advisors who have met the education, examination, experience and ethics requirements set by the Certified Financial Planner Board of Standards. CFPs are qualified to provide comprehensive financial planning advice on investments, insurance, taxes, retirement and estate planning.

It typically takes three to five years to become a CFP. To get the designation, you must pass a two-day exam that covers topics such as investment planning, retirement planning, tax planning and risk management. You must also have at least three years of full-time work experience in the financial services industry or complete an approved college degree program. Additionally, you must adhere to a code of ethics and complete continuing education credits every two years.

The cost of becoming a CFP varies depending on your educational background and experience level. The exam fee is $695 for members of the Financial Planning Association or $895 for non-members. Additionally, you may need to pay for study materials such as books or courses that can range from $100-$1,000 depending on the provider.

2. Chartered Financial Consultant (ChFC)

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed to help individuals provide financial advice and services to clients in the areas of estate planning, investments, insurance, retirement planning, and taxation. The ChFC program requires the completion of eight college-level courses, which are offered both online and in person.

In order to become a Chartered Financial Consultant (ChFC), you must first meet the eligibility requirements set forth by The American College of Financial Services. This includes having at least three years of experience in providing financial services or advice; a bachelor’s degree from an accredited institution; and passing all eight required courses with a grade of B or better. Once these requirements are met, you can apply for the ChFC designation.

The cost for the Chartered Financial Consultant (ChFC) program varies depending on the delivery method chosen. For example, if you choose to take the courses online, it will cost approximately $1,500 per course plus any applicable taxes and fees. If you choose to attend classes in person at one of The American College's campuses, then tuition costs range from $2,000 - $3,000 per course plus any applicable taxes and fees.

In addition to tuition costs for each course, there is also an application fee associated with obtaining the Chartered Financial Consultant (ChFC) designation that must be paid upon submitting your application to The American College of Financial Services. This fee is currently $75 USD for U.S.-based applicants and $150 USD for international applicants.

Once all eligibility requirements have been met and your application has been accepted by The American College of Financial Services, it typically takes between four to six months before you receive your ChFC designation certificate in the mail.

3. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given by the American Institute of Certified Public Accountants (AICPA). A CPA is a financial professional who has met specific educational and experience requirements and has passed the Uniform CPA Examination. CPAs are required to adhere to high ethical standards and must complete continuing education requirements in order to maintain their license.

The process of becoming a CPA varies from state to state, but generally includes completing an accredited college degree, passing the Uniform CPA Exam, and meeting any additional state-specific requirements such as work experience or ethics training. Depending on your individual circumstances, it can take anywhere from two to five years to become a CPA.

In order to become a CPA, you must first meet the educational requirements set forth by the AICPA. This typically requires completing at least 150 semester hours of college coursework with a concentration in accounting and business-related courses. You will also need to pass the Uniform CPA Exam administered by the National Association of State Boards of Accountancy (NASBA). The exam consists of four sections: Auditing & Attestation, Financial Accounting & Reporting, Regulation, and Business Environment & Concepts.

The cost for taking the exam varies depending on where you live and which testing center you use. Generally, you can expect to pay between $200-$800 for each section of the exam. Additionally, some states may require additional fees for licensure or other services related to becoming a CPA.

4. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA charter is considered to be one of the most respected and recognized investment credentials in the world. It is awarded to individuals who have demonstrated a mastery of advanced investment analysis and portfolio management skills through a series of exams.

It typically takes four years to complete all three levels of the CFA program, although some individuals may take longer or shorter depending on their experience and study habits. To become a CFA charterholder, candidates must pass all three levels of the CFA Program exams, have four years of professional work experience in an investment-related role, and adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost for taking the exam varies depending on when you register for the exam, but it typically ranges from $700-$1,500 per level. Additionally, there are other costs associated with studying for the exam such as textbooks and review courses which can range from $200-$2,000 depending on what materials you choose to purchase.

Overall, becoming a Chartered Financial Analyst requires dedication and hard work but can lead to great rewards in terms of career opportunities and higher salaries.

5. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional designation offered by the Investments & Wealth Institute, formerly known as the Investment Management Consultants Association. CIMA certification is designed to provide financial advisors with the knowledge and skills needed to develop and manage investment portfolios for clients in both the private and institutional sectors.

The CIMA program consists of a three-part certification process that includes an online course, an exam, and a portfolio analysis project. The online course covers topics such as asset allocation, portfolio construction, risk management, performance measurement, and client communication. The exam tests knowledge of these topics and requires passing scores on all sections. The portfolio analysis project requires applicants to analyze a real-world portfolio and make recommendations for improvement.

The entire CIMA certification process can take up to 18 months to complete depending on an individual’s schedule. To get started, applicants must first become members of the Investments & Wealth Institute by paying an annual membership fee of $200 USD. After becoming a member, applicants must then register for the online course which costs $1,295 USD. Upon successful completion of the online course and exam, applicants will be eligible to submit their portfolio analysis project for review by a panel of experts at the Institute who will determine if they have met all requirements for certification.

In total, it can cost up to $2,000 USD or more to become certified as a CIMA analyst depending on additional fees associated with membership or other services provided by the Institute.

6. Certified Financial Manager (CFM)

Certified Financial Manager (CFM) is a professional certification offered by the Institute of Certified Financial Managers (ICFM). It is designed to recognize individuals who have achieved a high level of expertise in financial management. The CFM designation is a mark of distinction that demonstrates an individual’s commitment to professional excellence and ethical standards.

The CFM program consists of three levels: Level I, Level II, and Level III. Each level requires the successful completion of an exam and the submission of additional materials such as work experience or education credentials.

Level I: This is the entry-level exam that covers basic financial management principles and practices. It requires approximately 100 hours of study time to prepare for the exam, which costs $295 USD.

Level II: This exam covers more advanced topics in financial management, such as capital budgeting, financial statement analysis, and international finance. It requires approximately 200 hours of study time to prepare for the exam, which costs $395 USD.

Level III: This is the most advanced level of certification and it focuses on strategic planning and risk management. It requires approximately 300 hours of study time to prepare for the exam, which costs $495 USD.

In order to maintain your CFM designation, you must complete at least 30 hours of continuing education credits every two years. Additionally, you must abide by ICFM's code of ethics and professional conduct at all times.

7. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have demonstrated expertise in treasury management and corporate finance.

The CTP program consists of two components: an exam and a work experience requirement. The exam covers topics such as cash management, financial markets, risk management, and international treasury operations. To be eligible for the CTP designation, applicants must pass the exam and have at least three years of relevant work experience.

To get the CTP designation, applicants must first register with the AFP and pay a registration fee of $450 USD. Once registered, applicants can take the online exam which consists of 150 multiple-choice questions. Applicants must answer at least 70% of the questions correctly to pass the exam. Once passed, applicants must submit proof of their relevant work experience to obtain their CTP designation.

In total, it typically takes around 6 months to complete all requirements for obtaining a CTP designation.

8. Certified Fund Specialist (CFS)

Certified Fund Specialist (CFS) is a professional designation awarded by the Institute of Business & Finance (IBF). It is designed for financial professionals who want to demonstrate their expertise in the area of mutual funds. The CFS program provides comprehensive training on the fundamentals of mutual fund investing, including portfolio construction, asset allocation, and risk management.

The CFS program consists of three courses: Fundamentals of Mutual Funds, Advanced Mutual Funds Strategies, and Portfolio Management. Each course requires approximately 40 hours of study time and can be completed online or through self-study materials. Upon successful completion of all three courses, candidates must pass an exam administered by IBF to earn the CFS designation.

The cost for the CFS program varies depending on how you choose to complete it. Online courses typically cost between $500-$1,000 while self-study materials range from $200-$400. In addition to these costs, there is an exam fee of $250 that must be paid when registering for the exam.

Overall, it takes around 120 hours to complete the CFS program and obtain the designation.

9. Chartered Investment Counselor (CIC)

A Chartered Investment Counselor (CIC) is a professional designation awarded by the Investment Counsel Association of America (ICA) to individuals who demonstrate a high level of knowledge and experience in the areas of investment counseling, portfolio management, and financial planning. The CIC designation is recognized as a mark of excellence in the investment industry and is highly sought after by many financial advisors.

To become a CIC, an individual must have at least five years of experience in the field of investment counseling or portfolio management. In addition, they must pass an exam administered by ICA that covers topics such as investment strategies, portfolio design, asset allocation, risk management, taxation, and ethics. Once an individual has earned their CIC designation they are required to complete continuing education courses every two years to maintain their certification.

The cost for obtaining the CIC designation varies depending on how long it takes you to study for the exam and if you choose to take any preparatory courses offered by ICA. Generally speaking, it will cost around $1,000-$2,000 USD for all associated fees including exam fees and course materials.

It typically takes between 6-12 months to complete all requirements necessary for earning your CIC designation. This includes studying for the exam as well as completing any additional coursework or continuing education credits needed to maintain certification.

10. Accredited Financial Counselor (AFC)

Accredited Financial Counselor (AFC) is a professional designation that demonstrates an individual's expertise in providing financial counseling services. The AFC credential is awarded by the Association for Financial Counseling and Planning Education (AFCPE), which is a non-profit organization dedicated to promoting excellence in the field of financial counseling and planning.

In order to become an Accredited Financial Counselor, individuals must complete a comprehensive training program which includes coursework in personal finance, financial counseling, and money management. The program also requires successful completion of an exam administered by the AFCPE.

The entire process typically takes 6-8 months to complete, depending on the individual's prior knowledge and experience. To begin the process, individuals must first submit an application to the AFCPE along with payment of a registration fee. After submitting the application, individuals will be sent instructions on how to access their online course materials and register for their exam date.

The cost for becoming an Accredited Financial Counselor varies depending on whether or not you are already a member of the AFCPE. For non-members, it costs $395 for registration and $125 for each exam attempt; whereas members pay only $345 for registration and $95 for each exam attempt.

Do You Really Need a Financial Assistant Certificate?

When it comes to taking control of your finances, having a financial assistant certificate can be incredibly helpful. A financial assistant certificate is an official document that shows you have taken courses and completed tests on topics such as budgeting, investing, taxes, and other money-related topics. It also demonstrates that you are knowledgeable in the area of personal finance and can help people make sound decisions with their money.

Having a financial assistant certificate can open many doors for those looking to get into the financial field. It shows employers that you have taken the time to learn the basics of personal finance and are serious about helping others manage their finances. It can also give you an edge over other candidates who don’t have this certification when it comes to job applications.

In addition, having a financial assistant certificate can help you gain credibility as a professional in the field. It shows clients that you have invested in your education and are knowledgeable about personal finance topics, which could lead to more business opportunities for you or even higher rates for your services.

In short, getting a financial assistant certificate is highly beneficial if you want to pursue a career in personal finance or if you simply want to become more knowledgeable about managing your own finances. It demonstrates your commitment to learning about money management and opens up many new opportunities for those who possess it.

Related: Financial Assistant Resume Examples

FAQs About Financial Assistant Certifications

1. What is a Financial Assistant Certification?

Answer: A Financial Assistant Certification is a professional designation that demonstrates a person has met the necessary educational and experience requirements to provide financial assistance services. This certification is typically obtained through an accredited program or school and allows individuals to provide advice on investments, taxes, insurance, retirement planning, and other areas related to personal finance.

2. What are the Benefits of Obtaining a Financial Assistant Certification?

Answer: Obtaining a Financial Assistant Certification can open up more job opportunities in the financial services industry. It also provides employers with assurance that employees have the knowledge and expertise required to handle their organization’s finances in an ethical and efficient manner. Furthermore, it can also result in higher salaries for those who hold this certification.

3. What Courses are Required to Earn a Financial Assistant Certification?

Answer: The courses required to earn a Financial Assistant Certification depend on the program or school offering the certification. Generally speaking, these courses include topics such as investment analysis, retirement planning, taxation, estate planning, risk management, insurance planning and financial statement analysis.

4. How Long Does It Take To Complete A Financial Assistant Certification Program?

Answer: The amount of time it takes to complete a Financial Assistant Certification Program depends on the program you choose and how much time you dedicate to studying each week. Some programs can be completed in as little as one year while others may take up to two years or more depending on your availability and level of commitment.

5. Is There An Exam Required To Earn A Financial Assistant Certification?

Answer: Yes, most programs require students to pass an examination in order to earn their certification. The exam tests one’s knowledge of financial topics such as investments, taxes, retirement planning, estate planning and risk management among other things.