Michele Lenz joined the team at Flourish Wealth Management in late 2017 as Wealth Manager, working to directly support clients as they build long-term plans for the future. She graduated from the University of Wisconsin Madison with a Bachelor of Science in Personal Finance. Michele has remained dedicated to growing her financial planning knowledge and developing tools to support our clients. It is an impressive accomplishment to become a CFP® practitioner, adds a lot of value to our team, and we want to share some of Michele’s journey.
After spending over 250 hours studying for the exam over the past few months, including a 40 hour review class and multiple practice exams, Michele was able to pass the grueling 7-hour exam on her first try. This is a testament to her studies in a Financial Planning program at UW-Madison, experience in the profession and her prep work, as the average pass rate for this exam was 54% for people taking the CFP® exam for the first time. When asked for some perspective on achieving the CFP® designation, Michele stated that “nothing worth having comes easily, and that philosophy applies especially to obtaining the CFP® designation. Over the past three years I have been very driven to achieve this accomplishment for both personal and professional growth. I feel extremely excited to utilize this credential in my financial planning career, specifically with our clients at Flourish Wealth Management.”
As an acronym – the CFP® credential stands for CERTIFIED FINANCIAL PLANNER™. Its use is strictly regulated by the CFP Board, which was established in 1985, with roots dating back to the 1960s.
As a credential – It ranks right up there with a CPA or MBA in terms of sweat equity. To even apply for certification, an individual must:
- Have a bachelor’s degree or better from a U.S.-accredited institution
- Pass a lengthy exam
- Complete 4,000–6,000 hours of real world financial planning experience
- Pass a background check and sign an Ethics Declaration
- As an ongoing designation – a CFP® practitioner can’t rest on their laurels after passing the test. They must complete at least 30 hours of continuing education every two years, participate in their local financial planning community, and fulfill their ethics commitment.
