What does ChFC stand for?
James Williams
Updated on February 07, 2026
The Chartered Financial Consultant (CH. F.C) designation is a financial planning designation that specializes in wealth accumulation and retirement planning. A CH. F.C. designation holder is an expert in retirement planning and capital accumulation strategies.
How long does it take to become a chartered financial consultant?
Chartered Financial Consultant (ChFC)
| Designation Essentials | |
|---|---|
| Prerequisites | Three years of full-time business experience within the five years preceding the awarding of the designation |
| Education Requirements | Seven core and two elective courses, equivalent of 27 semester credit hours |
What is the difference between CFP and ChFC?
ChFC and CFP are two types of financial planning designations. ChFC is the designation for chartered financial consultants, and CFP is the designation for certified financial planners. These certifications verify a financial professional’s knowledge, expertise and commitment to upholding the highest ethical standards.
Does ChFC require a college degree?
The ChFC degree program requires students to complete nine college-level courses or 27 hours of college credit in the field. Students must achieve mastery of more than 100 integrated advanced financial planning topics, including: Estate Planning. Insurance Planning.
Is ChFC hard?
ChFC exams are not difficult. If for some reason you don’t pass one, just take it again. It’s not like the CFP where the two day final really is difficult and where you have a lot invested in passing it.
Is a ChFC a fiduciary?
Both CFP and ChFC charterholders are held to a fiduciary standard, which means they are bound by law to consider the best financial interests of their clients when pursuing any investment decision. Both certifications require 30 hours of continuing education every two years, including an ethics course.
What is the best designation for a financial advisor?
Retail Financial Services
- Chartered Financial Analyst (CFA)
- Certified Financial Planner (CFP)
- Chartered Life Underwriter/Chartered Financial Consultant (CLU/ChFC)
- Certified Public Accountant (CPA)
- Chartered Alternative Investment Analyst (CAIA)
- Financial Risk Manager (FRM)
What is the easiest financial designation to get?
To that end, here’s the quickest and easiest list of financial designations you’ll find anywhere. CFP – Certified Financial Planner. They offer a broad range of knowledge and services in order to help you with your overall financial planning. CFA – Chartered Financial Analyst.
How hard is the ChFC exam?
Who is a Chartered Financial Consultant ( ChFC )?
The ChFC® is for all faces of the financial services profession, including financial planners, insurance professionals, brokers, retirement experts and both home office and client-facing practitioners. The ChFC® is an applied, hands-on designation that will enrich advisors’ ability to help American families.
How much does it cost to be a ChFC?
Annual retainer: Some chartered financial consultants may charge an annual retainer fee in addition to a percentage or hourly fee. Yearly costs generally run from $2,000 to $7,500. A mix of the above: Some ChFCs may use fee structures that borrow from bits of each of the previous fee types.
When did the ChFC credential come out?
The ChFC designation was rolled out by the American College of Financial Services in 1982 as a competitor to the CFP credential. It requires the same core curriculum needed for the CFP, plus additional coursework that further hones an applicant’s skills as a professional wealth manager.
