The CTFA is a certification from the American Bankers Association for professionals who administer trusts and estates, most often trust officers at banks and trust companies.
Eligibility depends on wealth management experience: three years plus an approved training program, five years plus a bachelor's degree, or ten years with at least five of them recent. Candidates then pass a proctored multiple-choice exam covering fiduciary and trust activities, financial planning, tax law, and investment management.
To keep it, holders earn 45 continuing education credits every three years, pay an annual fee, and follow the ABA's professional code of ethics.
Despite the word in its name, the CTFA does not by itself make someone your fiduciary. The legal duty comes from their role, such as serving as trustee, or from registration as an investment adviser. It also says nothing about how they are paid.
How to check
The ABA does not publish a public lookup of CTFA holders, so ask the advisor for their certification record or contact the ABA's certification staff. Check any investment adviser registration on the SEC's Investment Adviser Public Disclosure site.
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