CFA, CFP, etc

[findleowong]

Hi Dennis,

Check with you, how long it takes you to get your CFP?

In your own perspective, are CFP exams difficult?

Why did you choose CFP instead CFA?

Thanks

[Dennis Ng]

Hi Dennis,

Check with you, how long it takes you to get your CFP?

In your own perspective, are CFP exams difficult?

Why did you choose CFP instead CFA?

Thanks

CFA teaches investing analysis with the Efficient Market Hypothesis as basis. Real investors know that EMH is just theory. Some of the greatest investors in the world including Warren Buffett and George Soros, have not taken CFA.

CFA is necessary if one wants to pursue a career as a Fund Managers. I've friends who are fund managers and they are all CFAs.

This is why I did not take CFA. Instead I learn Investing Strategies that work in real life from Real Life Multi-millionaires in Singapore.

Nobody plans to fail. Many failed to plan.

Just knowing how to invest, without knowing how to plan one's overall finances is not sufficient. CFP originates from U.S. and is considered the Gold Standard in Financial Planning globally.

This is why I took up CFP instead. I studied part-time (self-study, did not attend any lessons), just study based on the Study Material given. There are 6 modules altogether, exams are twice a year. I managed to complete all 6 Modules in 1.5 years.

After getting CFP, one is NOT automatically a CFP, must have 3 years min experience of Financial Planning before they certify you.

I'm the 3rd batch of Financial Planners being Certified in Singapore 9 years ago. Currently, there are about 700 CFPs in Singapore.

I've a flair for finance, so studying anything relating to Finance is something I enjoy. I only passed Module 6 of CFP exams in my 2nd attempt.

The first attempt I failed as I forgot about exam tactics and did not finish the Case Study Questions that we are given information and scenario of people and we need to then analyse, review and make our recommendations and comments.

[findleowong]

Hi Dennis,

Totally agree with you, even the Ivy League Uni also the taught the same thing which is also related to Efficient Market Hypothesis. One of them is UNI of Chicago & their comments are noted on several papers & books.

The true fact, the market is not efficient as what they have taught. Mr Buffett have also mention, if the market is efficient, he will be a beggar on the street with a tin can.

True, most fund houses and others require their Fund managers to have the CFA certification. However, most of them dun really perform well compare to professional investors like Mr Buffett, Mohnish Prabai, Lou Simpson, Michael F price, etc.

1.5 years to complete all the 6 modules is consider fast which average, people will take more than 2 years or more to finish it.

If that the case, the same things also applies for CFA. The additional requirement also requires the person to have few years of experience before they certify the person.

I see, so you are one of the few earlier batches to be certified for CFP. Cool!