EFPA Certification: what it is and how to get it

At Founderz, we understand that trust is key in the world of finance. If you’re a professional in the industry or looking to make the leap into financial advising, you might be wondering: what is the EFPA certification, and how can I get it?

In this article, I’ll explain it clearly, step by step, with no unnecessary fluff.

What is EFPA Certification?

The EFPA certification, or EFPA certificate as you may also see it written, is a professional accreditation designed to measure and validate the knowledge, skills, and ethics of those in financial advising and planning.

EFPA stands for the European Financial Planning Association, and in Spain, it serves as the certifying body for professionals in the industry. In other words, it’s a way to demonstrate to employers, clients, or regulators that you have the proper knowledge to provide financial advice with confidence.

One important point is that EFPA certifications are not for life: to maintain their validity, you must engage in ongoing training and meet specific recertification requirements.

Here are the different levels or modalities that exist:

• EIA (European Investment Assistant): basic level for professionals who provide information about investment products.
• EIP (European Investment Practitioner): intermediate level, for providing specific investment advice.
• EFA (European Financial Advisor): the most widely held certification, valid for comprehensive financial advising for individuals.
• EFP (European Financial Planner): the highest level, focused on comprehensive financial planning, including complex wealth, tax, and succession aspects.

For example, the EFP certification has grown by 40% in the past five years in Spain, with over 1,000 professionals already holding this title. This reflects a growing interest in achieving high standards in financial planning.

What is EFPA certification useful for?

Having the EFPA certificate can offer many concrete benefits:

• Professional Recognition: It builds trust with clients and acts as a quality seal for banks and asset management firms.
• Regulatory Compliance: in Spain, many advisory or investment information functions require proof of competencies accepted by the CNMV. EFPA is one of the recognized paths for this.
• Continuous Improvement: since the certification requires recertification and yearly training, it forces you to stay up-to-date.
• Market Differentiation: if you’re aspiring to roles in private banking, EAFIs, asset management firms, or as an independent advisor, having a solid EFPA certification will open more doors.
• Career Progression: you can start with the more basic levels (EIA, EIP) and move up to EFP if you’re interested in handling more complex cases.

Requirements to take the EFPA certification exam

Before you dive into studying, it’s important to review what is required to access the EFPA certification exam (and maintain it afterwards). These requirements vary by level, but some common conditions are:

• Have an academic degree (e.g., High School, Vocational Training, or equivalent).
• Prove professional experience in the financial sector: for example, the EFA level might require at least 1 year of experience, or 6 months if you’ve completed a preparatory course at an accredited center.
• No criminal record for intentional crimes, no major sanctions from regulatory bodies, etc.
• Become a member of EFPA (once the exam is passed).
• Meet recertification hours: for example, those with EIP or EFA certifications must complete around 30 hours of continuing education (or equivalent) each year, or as per EFPA’s requirements.

Each exam session sets deadlines for registration, required documents, and exam fees. Usually, you’ll need to submit your resume, academic degree, certificate of experience (if required), and pay the exam fees.

How to prepare for the EFPA certification exam?

Achieving certification isn’t just about passing an exam; it’s also about how you plan your study. Here’s a roadmap:

1. Choose an accredited program or center

Look for financial schools or centers offering preparatory courses recognized by EFPA.

2. Set a realistic study schedule

Divide the curriculum into sections (markets, products, regulations, case studies) and assign daily study times.

3. Use practice exams and case studies

Doing many exercises, mock exams, and solving real cases will help you familiarize yourself with the format and the type of reasoning expected.

4. Focus on regulations and ethics

A key part of the EFPA certification is understanding regulatory rules, professional ethics, and the legal boundaries of advising. It’s not just financial theory.

5. Review and revise ahead of time

Dedicate the final weeks to reviewing weak points, doing full mock exams, and polishing your arguments for the practical part.

6. Complete formal requirements

Register for the exam in advance, submit documents, pay fees, and send certificates of experience if necessary.

Maintaining and recertifying your EFPA certification

Once you have the EFPA certification, it’s not enough to just leave it there. The certification requires periodic recertification, which involves:

• Completing a minimum number of continuing education hours each year (or the period specified by EFPA).
• Adhering to EFPA’s ethical codes and professional conduct standards.
• Renewing your membership with EFPA as an active member.

If you fail to meet these requirements, you can lose the validity of your certificate, which would affect your professional recognition and your ability to work under that accreditation.

Steps to get the EFPA certification

For a clear overview, here’s a summary of what you need to do:

1. Check that you meet the academic and experience requirements.
   
2. Enroll in an accredited preparatory course.
   
3. Study the entire curriculum with practice exams.
   
4. Register for the exam in advance.
   
5. Pass both parts of the exam (theoretical + practical).
   
6. Become an EFPA member and accept their ethical code.
   
7. Keep the certification active with continuing education and recertification.
   

The EFPA certification is not just another title: it’s a recognized professional accreditation that positions you with credibility in the financial market. By obtaining it, you demonstrate that you have solid knowledge, professional ethics, and the ability to advise competently within the regulated environment.

Of course, it’s not an easy path: it requires study, rigor, and continuous maintenance. But if your goal is to become a recognized financial advisor, it’s one of the best credentials you can pursue.