New CFP Board Policy To Increase CE Costs To CFPs

cfp logoThe CFP Board will substantially increase the fees educators must pay in 2010 to have their courses approved for CFP® continuing education. By my estimation, small providers of CE credits may be priced out of the market.

For example, I usually do one CE program a year designed for a maximum of eight attendees. In the past the charge to have that program accepted for 15 CE’s was $50. In 2010 the charge for that one program will be $575, over a ten-fold increase. 

The new fee is almost the full tuition cost for one participant. I will need to raise my fees by 20% to cover the CE costs or do the program without the CE credit, which may result in attracting fewer participants. Either way is a lose/lose for everyone involved.

I can understand the need of the CFP Board to increase their revenue in tough times. I wonder if in doing so they will be eliminating CE choices for CFP®’s and increasing costs for tuition and travel.

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