An experienced Financial Planner who has become one of the first to gain CFP^CM certification through FPSB UK new exam process says it was one of the most exhilarating things he has done.

Shane Mullins, founder of Fiscal Engineers, has been in financial services for 20 years, holding the IFS diploma, and now has added the CFP qualification.
The changes to the exam process have come about following IFP setting up its qualifications subsidiary FPSB UK two years ago and moves to align with global standards.
FPSB UK achieved recognition by Ofqual as an awarding organisation and made changes to the syllabus and assessment for the CFP Certification which had not altered for many years prior to this.
The old style assessment comprised only a case study assessment and there was no exam.
Mr Mullins took the old style assessment but the new exam.
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He said: "I've been in the sector a long time at the pro end of the market. It's one of the most exhilarating and excruciating processes I've been through.
"While I've been a planner a long time I think the whole thing certainly puts you through your paces.
"There's no doubt the CFP certification is a benchmark of benchmark standards.
"I think it sets a very high water mark.
"It's put a spring in my step buckling down and getting the qualification I'm pretty chuffed to have become a CFP professional."
FPSB, the worldwide body, had put global standards in place which meant that FPSB UK needed to offer both an exam and a case study assessment.
Mr Mullins, who was the winner of the IFP Tony Sellon Memorial Award in 2012,
said: "It's given me fresh perspective and insight when you're benchmarking yourself against the international standard."
His message to fellow candidates is this: "Do not underestimate the level of commitment required and don't enter half heartedly. Make your first effort, your best effort."
Explaining the changes that came about with the qualification, Lucy Courtenay,
 FPSB UK's chief executive, said: "Certification had not changed for many years and it seemed like a good opportunity to revise the syllabus and learning outcomes to put the new Diploma onto the QCF but also to bring it in line with the FPSB global standards.
"The timing coincided with the RDR requirements. It was logical to change the entry requirements to the RDR diplomas and introduce our own exam making us compliant with the FPSB standards.

The assessment:

• The Principles of Financial Planning exam is 2 hours long and in two sections.
• Section A is 30 multiple choice questions which test knowledge and application of that knowledge.
• Section B has a short case study and some technical questions are based upon it

• The financial plan part of the assessment has not changed significantly. Candidates need to prepare a plan based on a case study.
• The assessment standards looks slightly different but essentially candidates are required to prepare a plan which analyses the clients' current position, identifies their needs and objectives and prepares solutions to meet these needs.
• All units must be passed to complete the qualification.