The President’s List is in recognition of the CFP exam candidates who earned the three highest scores on any given sitting of the exam. Melissa Laursen, CFP, has earned the award. An accomplished professional, she’s also a past recipient of the QAFP® Exam Award of Merit. The following blog post, written by Melissa, contains insights, strategies, and tips that may help you succeed if you decide to write the CFP exam.
Melissa Laursen is a Senior Financial Planning Associate and Investment Advisor at PWL Capital. She’s a former teacher and has always enjoyed helping people achieve their goals. For many years, personal finance was just her hobby—one that she loved sharing with friends, family, co-workers and students whenever she could. Three years ago, she decided to turn her hobby into a full-time career, and she’s never looked back.
Money is an area of life that can be stressful, especially in cases where someone doesn’t have much financial literacy. It can be hard to know where to turn or who to trust. I love being able to provide advice that helps people improve their lives, whether that’s through small tips or creating more expansive financial plans. If I can help people sleep better at night or realize their dreams, there’s nothing like that feeling!
Getting Started in the Profession
When I made the decision to switch careers from teaching to financial planning, I knew I wanted to pursue CFP certification. Doing so provided me with the knowledge and skills to help Canadians with their money. I decided to pursue QAFP certification first, knowing it could provide me with relevant qualifications sooner. CFP certification was always the end goal, though.
Completing the QAFP exam curriculum or CFP exam curriculum can help you establish some financial planning skills before applying for jobs. From there, if you’re a career switcher like me, lean on your experience in past positions to get your foot in the door. Also, don’t be afraid to reach out and ask for help from people you admire in the financial planning profession. In my experience, they’re all too happy to help and provide advice.
I will say that I was still teaching high school when I started looking for financial planning jobs. This meant I had the luxury of a steady job and could be picky about waiting for the right opportunity. I only applied to places that really aligned with my values and beliefs. I had long admired PWL Capital’s vision and content, so I was lucky that they took a chance on me. It helped that through the hiring process, I was able to communicate my alignment with their values, passion for financial planning, and the relevance of my teaching experience.
Finding the Right Exam Study Resources
I found the practice exam from FP Canada very helpful. I completed it about one month before the actual exam. Then, I compared my answers to the sample answers provided to guide my focus for the final four weeks of studying.
I also completed the exam preparation course through Business Career College. This included taking two practice exams. I always approached them like the real thing, and I reviewed my answers closely after completing them. I also paid attention not only to the material I needed to work on, but also to the formatting of my answers. Through the practice exams, I learned that I have a tendency to write too much or provide examples when they aren’t needed.
Tips for Writing the CFP Exam
Here are a few things you may want to consider if you’re planning to write the CFP exam.
- Create a Study Schedule – Pick a time to write that will work well for your life. Keep in mind when you get busiest at work, at home, and in family life. I stuck to a pretty strict study schedule, starting about three months before the exam. I suggest creating a study schedule three or four months ahead so you can plan your time effectively.
- Understand How You Learn Best – Reflect on your own learning style and create a study plan that plays to this. Personally, I like to study on my own and take hand-written notes, but other people will benefit more from studying with partners or in groups and creating visual aids.
- Take Care of Yourself – Finally, have confidence in yourself—and don’t neglect your physical and mental health in the period leading up to the exam!
Looking to take your exam prep to the next level? FP Canada has a variety of tools and resources, such as practice exams, that let you experience what it’s like to take the exam. Visit the exam tools section of our website to learn more.
