Personal Financial Specialist - PFS

AAA

DEFINITION of 'Personal Financial Specialist - PFS'

A specialty credential awarded by the American Institute of Certified Public Accountants (AICPA) to CPAs who specialize in helping individuals plan all aspects of their wealth. Successful Personal Financial Specialist (PFS) applicants earn the right to use the PFS designation with their names, which can improve job opportunities, professional reputation and pay. Every three years, PFS professionals must complete 60 hours of continuing professional education. Annually, they must pay a fee of several hundred dollars to continue using the designation.

INVESTOPEDIA EXPLAINS 'Personal Financial Specialist - PFS'

PFS applicants study estate planning, retirement planning, investing, insurance and other areas of personal financial planning. Individuals with the PFS designation may work for accounting firms, consulting firms or run their own firms. To become a PFS, candidates must be active members of the AICPA, have at least three years of financial planning experience, meet all the requirements for being a CPA, receive reccomendations and pass a written exam.

RELATED TERMS
  1. Chartered Accountant - CA

    An accounting designation given to accounting professionals in ...
  2. Accountant

    A professional person who performs accounting functions such ...
  3. Certified Financial Planner - CFP

    The CFP legal team has provided its official definition, along ...
  4. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
  5. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
  6. Financial Planner

    A qualified investment professional who helps individuals and ...
Related Articles
  1. Investing Basics

    The Seasons Of An Investor's Life

  2. Budgeting

    Find The Right Financial Advisor

  3. Taxes

    Tax-Efficient Wealth Transfer

  4. Retirement

    6 Estate Planning Must-Haves

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center