To work as a certified financial planner, you’ll first need to complete the CFP® exam. Taking a CFP® exam prep can help you ready yourself, but you may also benefit from reading books about financial planning. If you’re looking for some CFP® books to add to your reading list, here are a few to consider.
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7 CFP® Books That Can Help You Get Exam-Ready
The CFP® exam covers a lot of ground and being well-read could give you an advantage if you’re focusing on foundational topics. Reading CFP® books can supplement the knowledge you already have or are gaining through CFP® exam prep courses.
- “Financial Calculator Essentials” – Dalton Education (Publisher)
Dalton Review offers a highly rated CFP® exam prep course that includes a full list of textbooks to help you master core topics. “Financial Calculator Essentials” is included with exam prep materials but it’s also available for purchase as a stand-alone textbook or e-book.
The book is designed to help CFP® candidates apply problem-solving skills to real-world financial planning scenarios. You’ll find practice questions for each calculation along with keystrokes for specific financial calculators.
Resources: E-book version, Textbook version
- “Personal Financial Planning: Theory & Practice,” 12th Edition – Kaplan Schweser (Publisher)
Kaplan is another well-known name in CFP® exam prep and a publisher of study materials. “Personal Financial Planning: Theory & Practice, 12th Edition” offers a comprehensive look at the fundamental concepts covered in the section of the exam that focuses on general principles of financial planning:
- Financial planning process
- Financial statements and cash flow management
- Financing strategies and debt management
- Economic concepts
- Time value of money concepts
- Gift/income tax strategies
- Education funding
The book, offered in print and e-book versions, is designed to supplement your chosen education program if you’re not completing your exam prep through Kaplan.
Resources: Print or e-book version
- “Your Guide to the CFP® Certification Exam: A Supplement to Financial Planning Coursework and Self-Study Materials (2019 Edition)” – Matthew Brandeburg (Author)
Taking the CFP® exam involves more than just knowing what to study. You also need to know how to study effectively so that you’re making the most of your time. This book takes you through the most important things to know to develop a study plan and pinpoint areas for improvement.
The book includes:
- A checklist of what to expect on the CFP® exam
- 1-page unit summaries
- A 225-question practice exam
- Sample case
You’ll learn how to track your progress and manage your time as you study. The author also includes tips on how to improve accuracy and what to zero in your focus in the 24 hours leading up to the exam.
Resources: Paperback version
- “CFP® Certification Exam Practice Question Workbook: 1,000 Comprehensive Practice Questions (2019 Edition)” – Matthew Brandeburg (Author)
Working on practice questions can give you a better idea of what to expect when it’s time to sit for the CFP® exam. Inside this book you’ll find 1,000 practice questions spanning:
- General principles of financial planning
- Insurance
- Tax planning
- Investments
- Retirement and employee benefits
- Estate planning
There are two 200-question practice exams included, along with detailed solutions. The book was published in 2019 and is up to date on tax law changes following the passage of the 2017 Tax Cuts and Jobs Act (TCJA).
Resources: Paperback version
- “The Psychology of Financial Planning” – Certified Financial Planner Board of Standards, Inc. (Author)
In 2021, the CFP Board announced that it would be updating the core knowledge topics to include a new domain: the psychology of financial planning. “The Psychology of Financial Planning” is designed to help candidates prepare for this knowledge area by learning about six key topics:
- Client and planner attitudes, values and biases
- Behavioral finance
- Sources of money conflict
- Principles of counseling
- General principles of effective communication
- Crisis events with severe consequences
This book provides valuable insight into why people make the decisions they do with money and how you can use that knowledge to build stronger relationships with your clients.
Resources: Print, online and e-book versions
- “The Fundamentals of Writing a Financial Plan,” Second Edition – John E. Grable, Ph.D., CFP®; Michelle E. Kruger, Ph.D., CFP®; and Megan R. Ford, CFP®, CFT-I (Authors)
“The Fundamentals of Writing a Financial Plan” outlines how the CFP Board’s planning process is applied when writing a financial plan for an individual or family. The authors take you through:
- A review of the seven-step systematic financial planning process
- Regulatory guidelines financial planners must know
- Strategies for managing client communications
- How to use analytical tools to evaluate client data
- Financial planning approaches
- Instructions on how to do the necessary calculations to create a financial planning
You’ll find self-test questions as well as an example financial plan to help you better understand the key concepts.
Resources: Print, online, and e-book versions
- “The Case Approach to Financial Planning: Bridging the Gap between Theory and Practice,” Fifth Edition – John E. Grable, Ph.D., CFP®; Ronald A. Sages, Ph.D., AEP, CFP®, CTFA, EA; and Michelle E. Kruger, Ph.D., CFP® (Authors)
“The Case Approach to Financial Planning” offers comprehensive practice problems to help candidates learn by doing. The book covers the core areas of the financial planning curriculum as well as the most significant mathematical formulas and procedures a CFP® needs.
You’ll learn how to prepare a financial plan, including instructions on how to do the necessary calculations. The book includes updated case studies, including studies spanning the psychology of financial planning and ethics. It was published in 2022 so the information is up to date and relevant to what an up-and-coming CFP® needs to know.
Resources: Print, online and e-book versions
Article by Rebecca Lake, Smart Asset
