What’s the CFP® designation and why is it important?

Eagle Wealth Management |

Understanding how your financial team works is a crucial step in your financial planning process.  Here at Eagle Wealth, we structure our firm on the essential ethical requirements of CERTIFIED FINANCIAL PLANNERTM professionals (CFP®).  Put simply, we’re committed to putting you first no matter what. 

So, what does it take to become a CFP® practitioner?

CERTIFIED FINANCIAL PLANNERTM professionals complete extensive training and are held to the highest ethical standards.  They’re known for comprehensive financial planning and are required to act in their client’s best interest.  To earn the designation, one must complete the following: 

  • Examination - pass a rigorous test administered by the Certified Financial Planner Board of Standards.  
  • Ethics – commit to act as a fiduciary at all times, and uphold the principles of integrity, objectivity, competence, fairness and confidentiality.
  • Experience – obtain at least two years of hands-on experience in the financial planning process.
  • Education – earn a bachelor’s degree, complete a comprehensive course which covers a personal financial planning curriculum approved by the CFP® board, and complete ongoing continuing education based on professional competency and ethics. 

Why is the CFP® certification important?

Graphical user interface, text, application, email

Description automatically generated[i]

In times of market volatility, you deserve a team you can trust.  It’s important to be able to pick up the phone or send an email to your team who can explain market fluctuations, guide you through major financial choices, or just offer some reassurance after a particularly volatile trading day.  No matter what’s happening in the world, we’re here for you and your interests will always come first.

Sincerely,

Your Eagle Wealth Team

P.S.  If you want to learn more, check out letsmakeaplan.org for helpful information

 


 

A picture containing text, clipart

Description automatically generated

Mat Hunnicutt Earns his CFP® Certification

A person holding a signDescription automatically generated with medium confidence

 

 

 

 

 

 

 

 

 

 

 

We’re proud to announce that Eagle Wealth partner, Mat Hunnicutt, CFP®, earned his CERTIFIED FINANCIAL PLANNERTM designation, the standard of excellence in our industry.  Mat passed the rigorous test in April after devoting countless days and nights studying over the last couple years. 

Despite two action packed years including a global pandemic, getting married, training and competing in several Ironman triathlons, and managing a full workload at the office, Mat pushed forward and passed his exams.

CFP® professionals are trained in 72 areas of financial expertise and must accrue thousands of hours of experience, along with meeting ethics and education requirements prior to earning their certification.  Please join us in congratulating Mat!

 


 

The Week on Wall Street

A higher-than-expected inflation report triggered a sell-off on Friday, leaving stocks in the red for the week.

The Dow Jones Industrial Average lost 4.58%, while the Standard & Poor’s 500 dropped 5.05%. The Nasdaq Composite index slid 5.60% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, declined 1.81%.1,2,3

 
Inflation Upends Stocks

Stocks gyrated between gains and losses last week until sliding lower on Friday’s hot inflation report, which heightened worries over a more aggressive Fed and a further economic slowdown. Stocks moved higher to begin the week, despite rising bond yields, a profit warning from a major retailer, and Senate testimony by Secretary of Treasury Janet Yellen, who said that inflation was likely to remain elevated.

Stocks turned lower later in the week on renewed concerns of an economic slowdown, sparked by a downward revision in The Federal Reserve-Atlanta’s real-time estimate of second-quarter GDP growth and a drop in new mortgage applications. Investors lightening up on stocks ahead of Friday’s inflation report may have also contributed to Thursday’s selling.
 

Inside Inflation

Consumer prices rose 8.6% year-over-year in May, marking the highest rate since December 1981. Price increases over the last 12 months were driven by a 34.6% jump in energy prices and by food costs, which climbed 10.1%. Used car and truck prices, which had seen three straight months of declines, rose 1.8% from April, while airfares soared 12.6% in May.4

May’s inflation exceeded economists’ forecasts and dashed the hopes that inflation had plateaued. In a separate economic report on Friday, real wages (net of inflation) fell 0.6% in April and were lower by 3% from 12 months ago.5
 

THE WEEK AHEAD

Key Economic Data

Tuesday:  Producer Price Index.
Wednesday:  Retail Sales. FOMC Announcement.
Thursday:  Jobless Claims. Housing Starts.
Friday:  Industrial Production. Index of Leading Economic Indicators.

Source: Econoday, June 10, 2022
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.

 

Companies Reporting Earnings

Thursday: Adobe, Inc. (ADBE), The Kroger Co. (KR).

Source: Zacks, June 10, 2022
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
Any companies mentioned are for informational purposes only, and this should not be considered a solicitation for the purchase or sale of their securities. Any investment should be consistent with your objectives, time frame, and risk tolerance

 


 

[i] https://www.letsmakeaplan.org/how-to-choose-a-planner/why-choose-a-cfp-professional

1. The Wall Street Journal, June 10, 2022

2. The Wall Street Journal, June 10, 2022

3. The Wall Street Journal, June 10, 2022

4. CNBC, June 10, 2022

5. CNBC, June 10, 2022

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.

The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.

The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.

U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.

Please consult your financial professional for additional information.

This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.  Copyright 2022 FMG Suite.