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. Investment Advisor

    As defined by the Investment Advisors Act of 1940, any person ...
  3. Financial Plan

    A comprehensive evaluation of an investor's current and future ...
  4. Accredited Personal Financial Planning ...

    A professional designation for Certified Public Accountants who ...
  5. Accountant

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

    The CFP legal team has provided its official definition, along ...
Related Articles
  1. The Seasons Of An Investor's Life
    Investing Basics

    The Seasons Of An Investor's Life

  2. Find The Right Financial Advisor
    Budgeting

    Find The Right Financial Advisor

  3. Tax-Efficient Wealth Transfer
    Taxes

    Tax-Efficient Wealth Transfer

  4. 6 Estate Planning Must-Haves
    Retirement

    6 Estate Planning Must-Haves

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center