The Externship, an 8-week virtual training initiative for aspiring financial planners, is set to offer a significant benefit.
Starting in summer 2024, participants in the program will receive 500 standard pathway experience hours from the CFP Board, an increase from the previous 180 hours.
"This increase in experience hours is phenomenal," Hannah Moore, the creator of The Externship, said in a statement.
"The CFP Board's decision to increase the hours to 500 is a testament to the program's workload and its profound impact on participants," Moore said.
The Externship was launched in 2020 as a response to the disruptions caused by the pandemic to traditional internships. Now in its fifth year, the program has trained over 3,200 aspiring financial planners.
The curriculum, delivered by more than 50 industry professionals and experts, delves into essential aspects of financial planning such as retirement planning, investment management, and tax and estate planning.
"It takes 6,000 standard pathway experience hours for a financial planner to earn their Certified Financial Planner designation," Moore said. "For non-traditional students, veterans, career changers, and many other aspiring planners, the barriers to entry can be daunting."
The Externship is recognized by various companies and organizations within the financial planning profession, with partners including the CFP Board, Charles Schwab, XY Planning Network, and the Association for Financial Counseling and Planning Education.
"My mission is to make training both affordable and accessible, helping to alleviate the talent shortage in the profession," Moore stated.
Enrollment for the program, which costs $350, closes on May 29.
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