Institute Issues Updated Guidelines for PFS Credential


The AICPA has revised requirements for the personal financial specialist (PFS) credential, which it established in 1987 for members committed to personal financial planning as a practice discipline. Until recently, members were evaluated based on business experience and examination. Now, they will also be evaluated in a new area—lifelong learning.

Lifelong learning includes both traditional methods such as continuing professional education courses and nontraditional ones such as self-directed reading and research. Advanced degrees such as a JD or MBA, professional writing credits, conference presentations or participation on personal financial planning association committees will count towards earning the credential.

PFS candidates will be assessed using a point system (mirroring that for the AICPA certified information technology professional), with a total of 100 points being required to qualify for the credential.

On January 1 the Institute launched an online PFS application-cum-assessment tool at http://pfs.aicpa.org .

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