IFPHK's work experience requirement is defined as "the provision(1) of personal delivery or teaching(2) of comprehensive financial planning process to a client(3)." For a complete Qualified experience must fit within the six steps of financial planning process described as follows:

1. Establishing client-planner relationships

Explaining the issues and concepts related to the personal financial planning process.

2. Gathering client data and determining goals and expectations

Interviewing or questioning the client about various aspects of his or her financial resources, obligations and expectations; determining your client’s goals, needs and priorities; assessing your client’s values and attitudes; and determining the client’s time horizons and risk tolerance; collecting applicable client records and documents.

3. Determining the client's financial status by analysing and evaluating client's information

Analyzing and evaluating client data such as current cash flow needs, risk management, investments, taxes, retirement, employee benefits, estate planning and/or special needs.

4. Developing and presenting the financial plan

Presenting and reviewing the plan with the client; working with the client to ensure that the plan meets his or her goals and expectations, and revising the recommendations as necessary.

5. Implementing the financial plan

Coordinating with other professionals, such as accountants, attorneys, real estate agents, investment advisers, stock brokers and insurance agents.

6. Monitoring the financial plan

Discussing with the client any changes in his or her personal circumstances, evaluating changing tax laws, and making recommendations based on new or changing conditions.

(1) Provision

Supervising the provision of or directly supporting the delivery of comprehensive financial planning process to clients may not be 100% recognized as qualified experience. Recognition is based on IFPHK’s absolute sole discretion.

(2) Teaching

Credit for teaching is limited to teaching of CFP certification curriculum in an IFPHK Registered Program. Teaching other finance related classes (university level) is given a maximum of two years worth of experience credit. The rest of the experience must be personal financial planning experience or teaching the CFP certification curriculum courses full-time in an IFPHK Registered Program.

(3) Personal Delivery of Financial Planning to a client

"Clients" are individuals who engage a financial planning professional and for whom professional services are rendered. Pro-bono experience may be recognized, provided that there is a client AND you are acting as a financial planning professional who is capable and qualified to offer objective and comprehensive financial advice to or for the benefit of individuals for achieving their financial planning objectives.