Financial designations, explained
What is a ChFC®? The Chartered Financial Consultant® designation, explained.
ChFC® stands for Chartered Financial Consultant®, a financial planning designation issued by The American College of Financial Services. It differs from a CFP® mainly in path: a CFP® requires a bachelor's degree and one comprehensive exam, while a ChFC® requires only a high school diploma and is earned through a series of course-specific exams covering financial planning, tax, insurance, investments, retirement, and estate planning. Randall G. Boston, founder of Boston Integrity, holds the ChFC® designation.
Understanding the designation
What the ChFC® coursework actually covers.
The ChFC® isn't earned overnight. Candidates complete eight college-level courses through The American College of Financial Services, each capped with its own proctored exam, plus at least three years of full-time business experience in financial planning or a related profession and adherence to The American College Code of Ethics and Procedures. A high school diploma or equivalent is the only education prerequisite; no bachelor's degree is required. The designation is maintained through 30 hours of continuing education every two years.
Financial planning process
The role and responsibilities of a financial consultant, and how a financial plan is built from a client's goals and circumstances.
Income taxation
How income, deductions, capital gains, and the tax treatment of investments and insurance affect a financial plan.
Insurance & risk management
Life, health, and property and casualty planning, and how insurance is used to manage financial risk.
Investment planning
Asset allocation, portfolio construction, and the tradeoffs behind common investment decisions.
Retirement planning
Qualified plans, IRAs, Social Security timing, and strategies for turning savings into retirement income.
Estate planning
Wills, trusts, and the basics of transferring wealth, in coordination with a client's attorney.
ChFC® vs. CFP®
How a ChFC® compares to a CFP®.
Both are comprehensive financial planning credentials. Here's where they overlap and where they differ.
Both designations cover the same core subject areas: the financial planning process, insurance and risk management, investments, income tax, retirement planning, and estate planning. Both require relevant work experience and adherence to a code of ethics. The CFP® certification requires a bachelor's degree; the ChFC® requires only a high school diploma or equivalent as a prerequisite, though many candidates hold a degree as well.
The CFP® certification, from the CFP Board, is completed through a CFP Board-registered program and capped with one comprehensive exam. The ChFC®, from The American College of Financial Services, is completed through a series of college-level courses, each with its own exam, and includes elective coursework beyond the standard CFP® core curriculum. In The American College's own description, a CFP® professional who wants to add the ChFC® needs only one additional course to do so.
Like any professional designation, the ChFC® reflects completed coursework, exams, and experience requirements. It does not guarantee investment performance or planning outcomes, and holding it is separate from the securities and insurance licenses required to actually provide advice.
At Boston Integrity
Why our founder holds the ChFC® designation.
Randall G. Boston, founder of Boston Integrity, earned his ChFC® designation through The American College of Financial Services. Completing the coursework means he has been tested on financial planning, income tax, insurance, investments, retirement planning, and estate planning, the areas that show up together in nearly every real financial decision our clients face.
In practice, that coursework maps onto the kinds of conversations that come up in planning meetings: how a withdrawal is taxed, whether an insurance policy still fits a household's needs, how a retirement account interacts with Social Security timing, or how an account is titled for estate purposes. The ChFC® curriculum touches each of those topics directly, which is why it's relevant background for the planning work done here, separate from the securities and insurance licenses that actually authorize giving advice or selling products.
That's a factual description of the coursework behind the designation, not a claim about results. Randall also holds FINRA Series 7, 6, 63 & 65 registrations, and securities and advisory services are offered through J.W. Cole Financial, Inc. (JWC), Member FINRA/SIPC, and J.W. Cole Advisors, Inc. See Randall's full background and credentials.
Common questions about the ChFC®
ChFC® questions, answered directly.
The searches we hear most about the designation, answered in plain terms.
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