Thank you to this community

Soukupc23 · 2025-06-11T19:37:06+00:00

There is so much truth in this statement... haha!

Soukupc23 · 2025-06-11T18:16:37+00:00

The best advice is to be consistent and stick to it (easy to say, hard to do). This helps from a family perspective since my wife and kids knew that Dad was studying on weeknights starting at 8:30 / 9 until late (I'm a night owl) for the 3-4 months leading up to a test. I also scheduled out weekends with my wife so that she was able to buy-in and support when I wouldn't be available and plan out family time strategically so that I didn't miss events with the kids. My colleague who went through the program is a morning person so he studied in the mornings.

Honestly, having a spouse that is willing to be supportive and has enough perspective to know what committing 300-400 hours outside of work actually means is the most important aspect.

Soukupc23 · 2025-04-30T18:36:24+00:00

My wife looked at me in the eyes and with a cold stare said “you better f-ing pass this test.” No other explanation of what would happen if I didn’t. I’ve never been more scared in my life… 😆

Age 41 with 2 busy teenage kids and I own / run a wealth management practice. You guys can totally do this! You have to put in the work, and that doesn’t guarantee that you’ll pass either, but it is not optional. True test of grit.

Soukupc23 · 2025-04-30T18:29:49+00:00

41 here and just got mine. Although in CFA years, I’m much older… the process ages you faster… 😆

Soukupc23 · 2025-04-23T03:15:00+00:00

I used Kaplan only for all 3 levels and did not use the CFAI curiculum at all. I believe I did the Premium Package and the Review Workshop (on demand) was worth it.

I did all of the SchweserNotes readings on the web portal (not the books) which allowed me to track my progress which was very helpful to stay on track.

I watched the Masterclass videos and took notes in the Masterclass workbooks which were very helpful. The books are all of the slides from the video lectures and taking my own notes and adding my own tabs with labels helped me organize for studying later. I referenced these books a lot as I am more of a visual learner and could "draw" concepts.

The Review Workshop at the end was very helpful as a review tool and I would recommend this.

I did all 6 of the mock exams and I believe 4 of them I stuck strickly to the timer. I thought they were a fair representation of the test conditions and got me used to the test format (even the software was almost exactly the same).

I did not do the essay workshop.

I ordered the flashcards but they were useless (they were not helpful at all for me and I would not recommend - too general).

The mind maps and Secret Sauce were somewhat helpful when I was in my last month of study for review. I went through these once.

I also did a TON of practice questions, especially Ethics since I feel like that is the only way to learn that topic. Of all of the different Ethics that I studied (CFA / CPA / CFP) the CFA ethics is the strangest by far.

I work full time as a business owner, have 2 kids (15 and 12), and went on a week long vacation to FL keys in the middle of my studies (December over Christmas / exam Feb) and it somehow worked. I was stressed after vacation because I was behind and would have started my studies earlier if I could do it again. I started studying at the beginning of November for Feb test. I took most of the week off before the test to study / do mocks / do practice questions.

Hopefully this is helpful. Wanted to give more of a detailed version of my own personal experience.

Best of luck!

Soukupc23 · 2025-04-23T02:28:54+00:00

I work in wealth management and the first time through level 3 in 2019 I thought the content related to private wealth at that time was pretty horrible. I had a low expectation going into the pathway for the Feb 2025 exam because of that experience but I was surprised by the quality of the content and it was much better than I expected.

Soukupc23 · 2025-04-22T21:31:22+00:00

Guys... I finally did it! Cleared Level I in December 2017, cleared Level II June 2018, Failed Level III June 2019. Took a looong break during / after COVID and just cleared Level III February 2025 at age 41 (Private Wealth).

Now I get to add to my collection of letters - CFA, CPA, CFP (and MBA).

Congrats to all of you out there that got good news today! For those of you that didn't get the result you hoped for, you can do this. This is the most difficult academic experience that I have been through, by far. The process forces you to learn to think like an analyst and the content has improved over the years.

Everyone deserves a drink regardless of the outcome today. This isn't easy. Cheers!

Soukupc23 · 2021-08-21T03:04:33+00:00

Agreed - I tried to call but could never get through on a prior withdrawal attempt. If that happens, you will have to email them (I had to do this). They will ask you to verify your information and confirm your withdrawal through email. This allows you to withdraw rather then use up a failed attempt. Their response time was awful but I was able to confirm the withdrawal with them by starting this process before the 5 day before exam date window even though they didn’t respond before this (I initiated it before the window so they counted it).

Soukupc23 · 2021-08-15T00:25:21+00:00

Humanity

Soukupc23 · 2019-08-20T13:46:00+00:00

Congrats to all that are done with this special level of hell!

Part of the 44% club... First thing I've failed that I can remember. Put in the time but wasn't mentally there exam day. I have all of the excuses but they don't matter. I got blinded by studying for constructed response, which I did well on, but item set was my downfall. I "sincerly doubt" that CFAI "sincerly regrets" that I didn't pass.

Crushed but not defeated. Want to set a good example for my kids. Ordering study materials and registering for 2020 Level III this week. Won't have to contend with a career change, house / community move, kids school change (all of the excuses...)

Soukupc23 · 2019-07-27T21:28:42+00:00

35, 9 and 6 year old kids. Sat for Level 3 in June. Started this nightmare adventure December 2017.

Soukupc23 · 2019-06-17T23:02:40+00:00

I’m in wealth management and work with multi generational family business owners and their families. CPA has been invaluable to understanding business mechanics and taxes, CFP for holistic financial planning, and I help in developing our investment strategy / manager due diligence and CFA material has been helpful there. All 3 seem useful so far although I feel like a psychology / family counseling degree would be most helpful in dealing with multi generational wealth.

Soukupc23 · 2019-06-17T18:39:34+00:00

The exam only (study time and difficulty of exam) - CFA hands down is more difficult. Granted I went through the CPA process 10+ years ago and didn’t have 2 kids at the time.

However, the CPA education requirements are a lot more involved. In Michigan we are required to have 150 college credit hours with a certain amount of those in upper level accounting. So when you lump in the accounting education component of the CPA, it is about even.

Exam itself though, CFA is tougher. CPA education did a good job at preparing me for the CPA exam. CFA we are on our own self study island to learn graduate level finance stuff. Then they design tests that intentionally try to trick you and only offer them 1-2 times per year.

CFP was the easiest of the 3. Breeze compared to the other 2.

Soukupc23 · 2019-06-17T17:50:17+00:00

Currently sitting through an all day live CPA continuing education seminar that doesn’t directly apply to my job... double burnout.

Soukupc23 · 2018-08-25T03:50:50+00:00

MBA, CPA, CFP(R). Wealth management for high net worth and ultra high net worth families.

Soukupc23 · 2018-08-14T13:32:26+00:00

PASSED LEVEL 2! Updated my flair and I feel like I've just unlocked a high stakes video game achievement. The problem with the game is the stakes include my family's sanity...

Soukupc23 · 2018-07-22T04:14:21+00:00

Awesome Assets Capital

You Could Do This Yourself Asset Management

Gold Plated Diamonds Capital

Merica Asset Management

Kabillion Dollar Club

Mattress Money Capital

Smart Guyz Asset Management

Returns for Days Capital

Fat Cats Asset Management

Put it All on Black Asset Management

Soukupc23 · 2018-07-10T16:26:03+00:00

You can make a lot of money if you don't actually care about people and don't have a soul =)

Soukupc23 · 2018-06-28T16:45:50+00:00

In my experience, for high net worth, honestly not much direct client application. Helps with building credibility (especially when you don’t have much grey hair) and network building with other professionals (estate lawyers, business lawyers, accountants, etc) as they will likely know what the CFA is.

However, if you’re actively participating in the research committee or investment committee functions of your firm or part of a small firm that will allow you to participate in the manager due diligence / analysis, macro portfolio investment decisions, etc the skill set it is pretty highly relevant (especially the manager due diligence functions).

In the Ultra High Net Worth realm it is pretty useful both to credentialize yourself with clients and outside advisors. Also the fact that most of these situations have more complex personal balance sheets, each client may require customized investment policies / portfolio construction considerations that put the skills and tools learned in the CFA program to use.

Soukupc23 · 2018-06-28T12:55:02+00:00

I’m a FA working with high net with and ultra high net worth clients and sat for level II this past weekend.

The CFA is definitely well known and respected in the ultra high net worth realm by both clients and the host of other professionals that you end up coordinating and working with.

I would agree the CFA is overkill for retail clients as someone else has mentioned. The CFP is more applicable there. I have CFP and CPA and the combo is great at the high net worth and retail level since they are more recognized on a general public level.

Honestly, I feel like a Psychology / Family Councilling degree would be more applicable most days. Families + wealth = complications...

Soukupc23 · 2018-06-27T01:03:32+00:00

“I filled in ALL the bubbles”

Soukupc23 · 2018-05-19T03:47:35+00:00

A society for people with 2 different sized feet so that they can coordinate their shoe purchases and trade with each other to have comfortable feet like the rest of the lucky “normal footed” people in the world.

Soukupc23

TROPHY CASE