Updated: March 14, 2025
The Certified Plan Fiduciary Advisor (CPFA®) designation is a credential awarded by the National Association of Plan Advisors (NAPA) to financial professionals who specialize in retirement plan management. Advisors with the CPFA® designation are trained to act as fiduciaries, ensuring that workplace retirement plans comply with regulations and serve the best interests of plan participants. This designation signifies expertise in fiduciary responsibilities, investment selection, plan governance, and risk management.
A Certified Plan Fiduciary Advisor plays a crucial role in managing employer-sponsored retirement plans. Their primary responsibilities include:
To earn the CPFA® designation, financial professionals must:
Choosing a financial advisor with a CPFA® designation can provide significant advantages for both employers and employees. These include:
The CPFA® designation is ideal for businesses looking to optimize their retirement plan offerings and meet fiduciary obligations. It also benefits individuals seeking guidance on managing their workplace retirement savings. While CPFAs focus on employer-sponsored plans, they can also assist individuals in understanding how their retirement plan fits into their broader financial strategy.
A Certified Plan Fiduciary Advisor (CPFA®) is a financial professional specializing in the fiduciary management of workplace retirement plans. Earning the CPFA® designation requires completing a training program, passing an exam, and demonstrating knowledge of ERISA regulations. Working with a CPFA® ensures better investment oversight, regulatory compliance, and employee financial education, making it a valuable credential for financial advisors focused on retirement planning.
Governing Body: The CPFA® designation is issued by the National Association of Plan Advisors (NAPA).
What is the CPFA® designation?
The CPFA® is a credential awarded by NAPA to financial professionals who specialize in fiduciary responsibilities for employer-sponsored retirement plans.
How long does it take to earn the CPFA®?
The time required varies but typically includes several weeks of study followed by the completion of an exam.
Do CPFAs only work with businesses?
While CPFAs primarily advise businesses on retirement plan management, they can also assist individual employees in understanding and optimizing their retirement savings.
Is the CPFA® designation recognized in the financial industry?
Yes, the CPFA® is widely respected within the financial services industry, particularly among retirement plan advisors.
What are the ongoing requirements to maintain CPFA® certification?
CPFAs must complete continuing education and adhere to ethical standards to maintain their certification.
Allan Slider is the Founder of FeeOnlyNetwork.com, a one-of-a-kind digital platform that elevates the visibility of fee-only financial advisors, individually and collectively. Fee-Only advisors are ONLY compensated by the client and NEVER make commission by selling financial products, or receiving kickbacks from brokerage firms. Allan is a consumer & investor advocate and a 20+ year veteran of online marketing for financial advisors.
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