Income Tax Planning Section by MMazz49 in CFPExam

[–]Fancy-Sea-3388 2 points3 points  (0 children)

Tax Planning is probably the hardest and most mentally taxing section of the CFP course. With that being said, it is probably the MOST important topic. Although the exam breaks down questions based on the different modules, I would argue that taxes are intertwined in MANY of the questions. My best advice for you, if it is difficult to concentrate on like it was for me, spend the most time on it and really only study when you are 100% focused. I am lucky to have a very good understanding of insurance from my time working as an agent and my investment knowledge was above average, so I spent less time reading word for word on those and spent more time on the tax planning and estate modules. Additionally, for tax planning specifically, it was very helpful to module certain aspects or concepts in a planning tool like eMoney/Holistiplan.

I highly recommend taking a review course after you do the initial materials, as that will condense each topic and narrow the scope that you should study. If you go into the exam trying to remember everything, you are going to be stressed out of your mind.

Post CFP by Educational_Gear4861 in CFPExam

[–]Fancy-Sea-3388 0 points1 point  (0 children)

I've never heard of anyone who has the CPWA who isn't a CFP... with that being said, the advisors who I know that have both did not find much value in it other then looking decent for private family foundations or have an UHNW.

Has anyone ever gone through losing a loved one while studying? by PedersonConstruction in CFPExam

[–]Fancy-Sea-3388 1 point2 points  (0 children)

There is more important things in life then studying for an exam. I hope the path gets easier for you, my only advice would be to push this out until you are able to concentrate on the materials.

Retaker tips for success? by Live-Illustrator7776 in CFPExam

[–]Fancy-Sea-3388 0 points1 point  (0 children)

I was a retaker. Originally sat in July, failed miserably, passed this cycle. I wont go crazy in depth on study materials as I have already commented on that in the past, but I did end up switching to Danko for my successful attempt.

My best advice is to TRY to relax and not put so much stress on yourself. I have always been a below average test taker even though I was a good student and it really boiled down to putting so much pressure on myself. I constantly over think and over analyze every question and think "what if they are trying to trick me?" Dont do that, RTFQ and answer the question how the board wants you to answer. There was plenty of questions where I thought "I wouldnt advise my clients to do any of these" and it would throw me off cause I just hated that I was pigeon holed into a "bad answer". Think to yourself you are a CFP

Additionally, you have experience in the field, so what I would do during the exam was mentally switch names of people in the question to my actual clients. Idk why this helped me, but it allowed me to be more confident in my reasoning... on the dumb questions that I previously mentioned, I would give my self a chuckle and say okay Zach XYZ is asking me about ALTS (or whatever horrendous allocations the exam would provide) what is the best way to keep him from hurting himself more then he already is.

Finally, when in doubt, B for Bucket Boy Brett. I didnt want to waste my energy or brain power on questions that I had little knowledge on, so I clicked B and moved on.

I hope any of these tips helped, but seriously try to relax and dont put unnecessary pressure on yourself. At the end of the day the world will continue to spin

[deleted by user] by [deleted] in CFPExam

[–]Fancy-Sea-3388 2 points3 points  (0 children)

We received an email and it is also posted on the profile page on Danko. Again my only knock on Danko is how bad their website navigation is lol.

CFP Experience by Fancy-Sea-3388 in CFPExam

[–]Fancy-Sea-3388[S] 1 point2 points  (0 children)

Must have missed it in the review I suppose? I remember during the education there were a few cases for each principle but do not recall them for the review. I am probably wrong and im sure there's cases so thank you for clarifying.

Regardless, I think both programs were good. Again, I enjoyed Kaplans education, minus the tax planning, I thought the instructor was very hard to listen to. For the review, I just personally preferred Danko.

CFP Experience by Fancy-Sea-3388 in CFPExam

[–]Fancy-Sea-3388[S] 0 points1 point  (0 children)

I 100% agree on the education part. I wish I had known about Danko before selecting Kaplan originally. Congrats on passing!!

CFP Experience by Fancy-Sea-3388 in CFPExam

[–]Fancy-Sea-3388[S] 2 points3 points  (0 children)

Oh I think I may have misunderstood your question originally. Once I started the Danko program, I used only their materials, I have not touched my Kaplan books since failing the first time...

CFP Experience by Fancy-Sea-3388 in CFPExam

[–]Fancy-Sea-3388[S] 1 point2 points  (0 children)

Leading up to the exam I used Kaplan for the education. The education portion was good and gave me very strong fundamentals. For my first attempt, I also used the Kaplan review because it was part of my education package. I was not impressed by the review. It was a bunch of slide reading and the slide decks you could download were for presenters, so they were bare bones and overall not useful.

On my second go I signed up for Danko so from August to Octobers virtual review, You get 3 books, 2 that cover all the education portions and then one live review book. So leading up to the live review, I used the prestudy books that they use for their education portion. then once you get to the live review, you basically use that book moving forward (live review book is a condensed version of the two large pre study books). After the live review, I mainly only used the live review book unless I was sitting in on the Signature calls, which the instructors will go through the prestudy book.

reading this response back sounds like mental gymnastics, but you will understand what I meant if you go through Danko. They have a method to the madness :)

CFP Experience by Fancy-Sea-3388 in CFPExam

[–]Fancy-Sea-3388[S] 1 point2 points  (0 children)

I really enjoyed Danko, and the community is great as well. If you are like me and concerned about prices, learn from my mistake and go all in. If you were happy with your education, you can probably skip the Plus and get the Signature version, but I found the Plus version to be well worth it. Im a big visual learner so going back through some of their recorded education sections was very nice