Chartered Mutual Fund Counselor℠ (CMFC®): What is Means and Why it Matters

​The Chartered Mutual Fund Counselor℠ (CMFC®) designation is a professional credential for financial advisors specializing in mutual funds. Offered by the College for Financial Planning—a Kaplan Company—the CMFC® program provides comprehensive education on mutual funds, including their structure, selection, and role in investment portfolios. While the program is no longer accepting new candidates, existing designees maintain their certification through continuing education and adherence to ethical standards.​

Understanding the CMFC® Designation

The CMFC® designation signifies an advisor’s expertise in mutual funds and their application in financial planning. Designees have completed rigorous coursework covering topics such as fund selection, asset allocation, risk assessment, and tax-efficient investing. This specialized knowledge enables them to provide informed guidance on mutual fund investments tailored to clients’ financial goals.​

How Do Financial Advisors Earn the CMFC®?

To obtain the CMFC® designation, candidates were required to complete a self-study course developed by the College for Financial Planning. The program typically involved 120-150 hours of study, culminating in an online final exam. Successful candidates demonstrated their ability to synthesize complex concepts and apply them to real-life investment scenarios. Although the program is no longer offered, existing designees must complete 16 hours of continuing education every two years to maintain their certification.

Benefits of Working with a CMFC® Designee

Engaging a financial advisor with a CMFC® designation offers several advantages:​

• Specialized Knowledge: CMFC® designees possess in-depth understanding of mutual funds, enabling them to recommend suitable investment options aligned with clients’ objectives.​
• Comprehensive Financial Planning: They assess clients’ overall financial situations, integrating mutual funds into diversified portfolios that address long-term goals.​
• Ethical Standards: CMFC® professionals adhere to a code of ethics, ensuring they act in clients’ best interests with integrity and professionalism. ​

Summary

The Chartered Mutual Fund Counselor℠ (CMFC®) designation represents a financial advisor’s commitment to excellence in mutual fund investments and financial planning. Although the program is no longer available to new candidates, existing designees continue to uphold high standards through ongoing education and ethical practice. Clients seeking knowledgeable guidance on mutual funds can benefit from the expertise of a CMFC® professional.​

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Governing Body: The CMFC® designation is issued by the College for Financial Planning—a Kaplan Company.

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Frequently Asked Questions

What is the CMFC® designation?

The Chartered Mutual Fund Counselor℠ (CMFC®) is a professional credential for financial advisors specializing in mutual funds, signifying expertise in fund selection and financial planning.​

Is the CMFC® program still available?

No, the CMFC® program is no longer accepting new candidates. However, existing designees maintain their certification through continuing education.​

How does a CMFC® differ from other financial advisors?

CMFC® designees have specialized training in mutual funds, enabling them to provide targeted advice on these investment vehicles within a client’s overall financial strategy.​

What are the continuing education requirements for CMFC® designees?

CMFC® professionals must complete 16 hours of continuing education every two years to stay current with industry developments and maintain their designation.​

How can I verify a financial advisor’s CMFC® designation?

You can verify a CMFC® designee’s status through the College for Financial Planning’s online resources or by contacting them directly.