QFA or CFP

[CG5025]

Does anyone know the difference between the above qualifications for financial advice? One broker says I should only take advice from a CFP qualified person?

 

[Gordon Gekko]

QFA is a mickey mouse qualification that pretty much anyone in banking needs to have. CFP is something that enlightened brokers tend to gravitate towards, but it isn't of the same quality as professional qualifications such as CFA, ACA, AITI, etc. Having said that, CFP is good for financial advisors to have. But QFA...my God...some of the multiple choice questions aren't far off "if I have two apples and three oranges, how many pieces of fruit do I have?".

 

[Deas]

Do you need the qualification to work or are you asking in general terms about who is better to advise you?

 

[CG5025]

Thanks I found a good comparison on the institute of bankers website.

 

[Bronte]

QFA is a mickey mouse qualification that pretty much anyone in banking needs to have.

That's very reassuring that all bankers need this.

 

[badger60]

That's very reassuring that all bankers need this.

What's even more reassuring is that there is only about 300 CFPs registered in the country.!