The QAFP Exam Award of Merit is in recognition of the QAFP exam candidates who earned the three highest scores on any given sitting of the exam. Taylor Warden, QAFP, has earned the award. The following blog post, written by Taylor, contains insights, strategies, and tips that may help you succeed if you decide to write the QAFP exam.
Taylor Warden is a financial planner at Warden Financial (IPC Investment Corporation). He was originally drawn to brand management and marketing because of what he saw as a unique combination of data analysis, strategy development, and creative problem solving. After more than a decade, he came to the realization that something was missing. He wanted to make a meaningful impact — and help others.
It became clear that pursuing a career as an independent financial planner would be the perfect fit. It combined the analysis, problem solving, strategy development, and creativity that drew him to marketing with the opportunity to make a meaningful difference for others.
A Deep-Rooted Passion
I honestly feel like I have the best job in the world. I get to combine my desire to help others pursue their financial goals and dreams with my passion for personal finance. I’ve had that passion for as long as I can remember. There are photos of my father – Eric Warden, CFP® – reading the finance and investment sections of the newspaper to me at two years old.
I had my first investment account when I was about six years old and had already learned about the importance of having different “pots” of money (my bank account and investments were for saving, and my piggy bank at home was for spending). My dad would make a point of sitting me down and holding a “meeting” with me every quarter to review my statements. These were incredibly powerful lessons.
Why QAFP Certification Was the Right Choice
Before I wrote the QAFP exam, I had been in the industry for six years. My experience spanned administrative support to investment advisory. During this time, I was also mentored by a CFP® professional. Seeing and working through real-life examples with the guidance of a mentor really helped me grow.
While my ultimate goal is to achieve my CFP® certification, pursuing the QAFP certification first has given me a good foundation upon which to continue my education. It’s also fit with the circumstances of my life. When I was deciding which certification to pursue, I needed to spread my time between building and servicing my existing practice, integrating another (larger) practice I was in the process of purchasing, replacing the loss of a long-term employee who moved on to a well-earned retirement, meeting my continuing education requirements for my other licenses, and spending time with my wife and two children.
I believe the value of QAFP certification is that it opens doors and provides a strong baseline level of credibility. That can really help you establish trust with people you haven’t worked with yet.
Tips for Taking the QAFP Exam
Based on my experience, here are a few strategies to keep in mind as you prepare for the QAFP exam.
- Practice, Practice, Practice — There’s simply no substitute for completing practice questions. The more you complete, the better prepared you’ll be. As I got more familiar with the material, I found it helpful to replicate the exam environment. I put away my study materials and adhered to strict time-limits for groups of questions.
- Think Beyond Recall — Focus on understanding the concepts and how to apply them rather than simply memorizing every last detail. This approach helped me better learn the material. It was also helpful on exam day, as I encountered a few differences between the terminology I was used to and that which I found on the exam.
- Exam-Day Preparation —This may seem trivial, but I’m a big believer in creating the right conditions to achieve success. Because I wrote the exam in-person, I went to the exam centre a week beforehand to familiarize myself with the location, parking, etc. While it may seem like a minor thing, being familiar with a new setting can minimize the potential for any last-minute stressors.
Looking to take your exam prep to the next level? FP Canada has a variety of tools and resources, such as practice exams, that let you experience what it’s like to take the exam. Visit the exam tools section of our website to learn more.
