Financial Therapy Certification

The Certified Financial Therapist-I™ (CFT-I™) designation will be a professional certification for both financial and mental health professionals conferred by the Financial Therapy Association. There are three planned levels of the certification, with Level I being the most foundational. To become a CFT-I™, individuals must meet specific educational and experience requirements across the areas of 1) financial therapy, 2) financial planning and financial counseling, and 3) therapeutic competencies. This is an initial overview and more information will be communicated over the coming months.

Requirements for CFT-I

1. Educational Requirements
CFT-I™ are required to have a Bachelor’s degree or higher in:

a. A Financial related field (e.g., financial planning, finance, consumer economics);
OR
b. A Mental Health related field (e.g., psychology, therapy/counseling, social work, human development);

OR
c. If you hold a Bachelor's degree in any other field, plus hold the CFP™ designation, the educational requirements will be considered met;

OR
d. If you hold anything other than what is outlined within points a, b, or c, you will need to submit for a special reviewin which the FTA Regulatory Committee will conduct a review to determine how your education aligns with certification requirements, which may include a review of your credentials, experience, formal education, and personal references.

2. Competency Training Requirements

Applicants must acquire the competencies for CFT-I™ certification via FTA's educational videos and materials, as well as self-study.

3. Experience

Applicants must demonstrate that they have completed the experience requirement (to be defined).

4. Examination

Applicants must successfully pass a comprehensive CFT-I™ certification exam after completing all necessary competency training and self-study.

The CFT-I™ certification exam will consist of multiple-choice questions and will be available online in Fall 2018.

5. Ethical Standards

Applicants must sign an agreement for adherence to the fiduciary standard and the FTA Standards of Practice and Code of Ethics.

6. Continuing Education

Once certified, financial therapists must complete continuing education to maintain their certification. They also must maintain member in good standing status with the Financial Therapy Association.

7. Cost

8. Summary

The CFT-I™ certificant, conferred by the Financial Therapy Association, is allowed to hold themselves out publicly as a Certified Financial Therapist-I™ (CFT-I™) when:

a. All CFT-I™ educational, experience, and competency training requirements are complete;

CFT-I™ COMPETENCY TRAINING REQUIREMENTS

Therapeutic Competencies

Financial Competencies

Financial Therapy Competencies

The Fundamentals of Therapy

The Fundamentals of Economics

Self of the Financial Therapist

Theories and Models of Therapeutic Intervention - I

The Basics of Behavioral Economics

Ethical Behavior and Standards of Practice

Theories and Models of Therapeutic Intervention - II

The Fundamentals of Financial Planning

Money and Relationships

Communication/General Counseling Skills - I

Money Management – I

Cash Flow and Net Worth

Measurement and Assessment in Financial Therapy

Communication/General Counseling Skills - II

Money Management – II

Credit and Debt Management

Evaluation of Financial Therapy Research

Knowledge of Mental Health Diagnoses

Identity Theft and Consumer Protections

Culture and Diversity

Basic Financial Analysis – I

Basic Financial Analysis – II


b. The FTA Standards of Practice and Code of Ethics adherence agreement is signed and submitted;

c. The applicant successfully passes the comprehensive CFT-I™ Certification exam;

d. The applicant receives confirmation of their completed certification status by the FTA Regulatory Committee.