The Externship adds bonus experience hours from CFP Board

The Externship adds bonus experience hours from CFP Board
The virtual training program’s enhanced credit, starting in summer 2024, helps lower a key barrier for aspiring CFP certificants.
MAY 24, 2024

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.

Latest News

Advisor moves: RBC lands $1B UBS team in Pittsburgh
Advisor moves: RBC lands $1B UBS team in Pittsburgh

Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL

GWG’s Heppner hires Puff Daddy’s attorneys as criminal sentencing looms
GWG’s Heppner hires Puff Daddy’s attorneys as criminal sentencing looms

According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.

Investors accuse Broadstreet fund of alleged billion-dollar 'Ponzi-like' scheme
Investors accuse Broadstreet fund of alleged billion-dollar 'Ponzi-like' scheme

A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.

Lawsuit alleges Skechers founders manipulated $9.4B buyout to shortchange investors
Lawsuit alleges Skechers founders manipulated $9.4B buyout to shortchange investors

Insiders allegedly rewrote projections three times in four days.

Fintech bytes: FINNY signs Visionary Square for pay-as-you-go AI prospecting program
Fintech bytes: FINNY signs Visionary Square for pay-as-you-go AI prospecting program

TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor