Society of Certified Retirement Financial Advisors - sponsor of the Certified Retirement Financial Advisor Certification
The mission of the independent Certified Retirement Financial Advisor Certification Board is to provide a proctored independent exam that tests the knowledge of those individuals who are engaged in financial services covering the distribution period of retirement. Once an advisor is Certified, they become a member of the Society of CRFA. The Certificant is required to obtain Continuing Education (CE) in order to ensure that they maintain their competency. The Society requires members to pledge to provide ethical objective recommendations for their clients.
Certification testing is offered to financial advisors who have at least three (3) years working experience in financial services and/or specific job skills/classroom training in the financial industry, as fundamental knowledge of insurance, investments and taxes will be assumed for testing purposes. Certification is granted to financial advisors who achieve an exam score of 70 or more.
SMT became our test proctor in 2009. Their Score Reports for all four years have been used to create the following aggregate exam statistics.
Total Test 60
Total Pass 45
Total Fail 15
As of December 31, 2012 CRFA had 124 members.
Advisors interested in becoming a member of our elite group should download a copy of the CRFA Candidate Application and our Candidate Guide and Handbook. The links are posted below.
Inquiries are welcome. Please call 405-376-9976 or e-mail
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.
Experience/Education Requirement for SCRFA Certification:
Our certification test consists of 100 questions relating to financial planning for retirees. Any candidate may make application to test; however, in order to be successful, candidates must possess:
1. Working knowledge of insurance based on three years of experience, or sufficient insurance training in a classroom environment to prepare the candidate for competency in this subject.
2. Three years of work related practical experience in the investment industry, or sufficient traiing with a securities licensed advisor, a securities license, or sufficient classroom training to enable the candidate to express a professional level of knowledge in the area of investments.
3. Three years of experience in tax planning and preparation, or sufficient training with a tax professional, so that the candidate has knowledge of tax forms and how to interpret the information shown on the forms.
4. A basic understanding of trusts and how they may benefit a retirement client. This knowledge can be gained through classroom training, or practical experience with a legal advisor, to allow the candidate to express sufficient knowledge in this area in order to pass the exam.
Having the above qualifications does not equate to preparedness for the CRFA certification examination. This is a closed book exam and is designed to test the ability to apply financial training focused on the distribution period of retirement. It is designed to test your knowledge and approach to actual situations. The testing center will allow four hours for the test.
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For testing information, the following publications are available to download:
CRFA_CANDIDATE_APPLICATION Candidate_Guide_and_Handbook 2009 Job Analysis
Members must renew their membership annually to remain in good standing.
Disciplinary_Rules_and_Procedures
