A CFP is trained to plan your whole financial life, a CFA to analyze and manage investments, and a CPA to handle accounting and tax. For most people choosing an advisor, the CFP is the one to look for: among the 24,501 fee-only advisors in the public graph, 41% hold it. A CFA matters more when the portfolio is large or complex. A CPA matters when taxes drive the decisions, and many planners simply work alongside one.
None of the three tells you how an advisor is paid. That’s a separate check.
The three side by side
| CFP | CFA | CPA | |
|---|---|---|---|
| What it’s for | Personal financial planning | Investment analysis and portfolio management | Accounting, audit and tax |
| Who grants it | CFP Board | CFA Institute | A state board of accountancy |
| Kind | Professional certification | Professional charter | State licence |
| Exams | One exam, 170 questions | Three exams, taken in order | Four sections, 4 hours each |
| Experience | 6,000 hours (or 4,000 as an apprentice) | 4,000 hours over at least 36 months | One or two years, depending on route |
| Education | Bachelor’s degree plus planning coursework | Set education or work to enroll | Bachelor’s with accounting, plus credits or experience set by state |
| Check it at | cfp.net/verify | CFA Institute directory | CPAverify or your state board |
CFP: the planning credential
CFP Board certifies CFP professionals, and more than 109,000 people in the US hold the certification. To get it, a candidate must:
- Complete planning coursework through a CFP Board registered program, which takes 12 to 18 months on average, and hold a bachelor’s degree in any subject.
- Pass the CFP exam: 170 multiple-choice questions over two three-hour sessions in one day, including case studies.
- Log experience: 6,000 hours of work in the financial planning process, or 4,000 hours under a stricter apprenticeship route.
- Meet the ethics standard: sign CFP Board’s ethics declaration, which includes acting as a fiduciary when giving financial advice, and pass a background check.
The coursework covers the whole household: retirement, tax, insurance, estate, investments and how they affect each other. That breadth is why it fits most people choosing a planner. The fiduciary commitment is a professional standard that CFP Board enforces, not a law; our guide to whether your advisor is a fiduciary explains the difference.
CFA: the investment credential
CFA Institute awards the CFA charter. A charterholder must:
- Pass three exams in order. CFA Institute recommends 300 hours of study for each, and says the program takes three to four years to complete.
- Log 4,000 hours of relevant work over at least 36 months, in work that directly involves investment decisions or adds value to them.
- Join CFA Institute as a regular member, with two or three professional references.
For 2026 exams, the exam fees alone total $3,520 to $4,570 for all three levels.
The charter goes deep on securities analysis, portfolio construction and investment ethics. It says little about Social Security, insurance or estate plans. A CFA is a strong sign for someone managing a large portfolio. For broader planning, look for a CFA who also holds a CFP, or works with planners who do.
CPA: the tax and accounting licence
A CPA is licensed by a state board of accountancy, so the rules vary by state. Every candidate passes the Uniform CPA Exam: three required Core sections (auditing, financial accounting and tax and regulation) plus one Discipline section of the candidate’s choice, such as tax compliance and planning. Each section takes four hours.
Education and experience follow one of three routes in the model law that the AICPA and NASBA approved on May 14, 2025: a bachelor’s degree with an accounting focus plus 30 more credits and one year of experience; a graduate degree and one year; or a bachelor’s degree and two years. States have to adopt the newer route themselves, and 14 had done so by that date, so check your state’s board.
A CPA licence says a lot about tax and nothing in particular about planning or investing. CPAs who do personal planning can add the AICPA’s Personal Financial Specialist (PFS) credential, which requires a CPA licence, AICPA membership, an exam and 120 hours of continuing education every three years.
Which one you need
The shares count credentials listed on advisors’ records in the public graph, so an advisor who doesn’t list one isn’t counted.
| Your situation | Credential that fits best |
|---|---|
| Retirement, Social Security, saving, insurance, estate: the whole picture | CFP |
| A large portfolio, concentrated stock, or complex investments | CFA, ideally alongside a CFP |
| A business, rental property or equity pay where tax drives decisions | CPA, or a CFP who works closely with one |
| Taxes are the main problem, not planning | A CPA or enrolled agent (EA) on their own |
Many of the strongest planners hold two: CFP and CFA, or CPA/PFS and CFP. For a specific situation, retirement planning specialists and tax planning advisors are good places to start.
In Canada
In Canada, FP Canada grants the CFP and the QAFP. Both are approved for the financial planner title in Ontario, where only six credentials qualify. In Quebec, the planner title needs a certificate from the AMF. Our guide to financial planner vs financial advisor covers the title rules. The CFA is the same global charter in both countries.
What none of them tells you
A credential tells you what someone studied and who can discipline them. It doesn’t tell you:
- How they’re paid. A CFP can earn commissions. Check for fee-only pay with our guide to telling whether an advisor is fee-only.
- Whether they’re registered to advise on investments. That’s on the SEC’s adviser search.
- Whether they’ve been disciplined. Our guide to checking a financial advisor’s record covers every database.
Check all three. Then ask, in the first meeting, how often they use their credential’s skills with clients like you.