Chartered Financial Consultant (ChFC): Courses, Exams, and Cost

The Chartered Financial Consultant courses and exams come as a fixed set: eight graduate-level courses from the American College of Financial Services, each ending in its own proctored, closed-book exam you must pass with a grade of C or better. There are no electives and no tracks. Every candidate studies the same material, from the planning process itself through insurance, income tax, retirement, investments, estate planning, and a capstone case analysis.¹

The Eight Required Courses

The American College uses a uniform curriculum so every advisor who earns the mark has covered the same breadth of planning topics. The courses are:

HS 300 – Financial Planning: Process and Environment. The planning process itself, including how to gather client data and build a comprehensive plan.
HS 311 – Fundamentals of Insurance Planning. Life, health, disability, and property insurance as risk management tools.
HS 321 – Fundamentals of Income Taxation. The federal income tax system, with particular emphasis on how individuals are taxed.
HS 326 – Planning for Retirement Needs. Retirement savings vehicles including IRAs, SEPs, SIMPLE plans, 403(b)s, and 457 plans, along with the tax treatment of each.
HS 328 – Investments. Portfolio construction, asset allocation, and the evaluation of investment products.
HS 330 – Fundamentals of Estate Planning. Wealth transfer strategies and methods for reducing gift and estate tax exposure.
HS 333 – Personal Financial Planning: Comprehensive Case Analysis. A capstone course that applies knowledge from every other course to realistic client scenarios.
HS 347 – Contemporary Applications in Financial Planning. Current topics and emerging planning strategies that tie the curriculum together.¹

How the Exams Work

Each course ends with a proctored exam administered through Pearson VUE. You can test at a Pearson VUE center in person or sit the exam remotely through Pearson’s OnVUE system, which proctors the session over webcam.² Exams are closed-book. No notes, textbooks, or outside references are allowed during the session.

The passing grade is a C, defined as 70 percent. The scale runs from A (90–100 percent) down to F (59 percent and below), and a D does not count as passing on any American College course.³ Many questions involve calculations that call for a financial calculator, so practicing with one during study pays off on exam day. If you fail or need to reschedule, the retake fee is $140.⁴

What the Program Costs

The American College offers two pricing paths. Buying all eight courses as a package costs $6,545, a savings of $2,285 over paying for each course individually.¹ Individual pricing breaks down this way:

HS 300, 311, 321, 326, 328, and 330: $985 each
HS 333 (Comprehensive Case Analysis): $1,195
HS 347 (Contemporary Applications): $1,725

Totaled individually, that comes to $8,830, so the package discount is substantial if you intend to finish the full program. Factor in the $140 retake fee if an exam doesn’t go your way, and the recurring recertification fee once you earn the mark.

How Long It Takes

You get 14 weeks to finish each course and pass its exam. A motivated candidate can complete a single course in as few as four weeks. For the program as a whole, the American College says it can be done in as little as eight months, with the typical candidate finishing in under 18 months.¹ Most candidates are working full-time in financial services, so your pace depends on how many study hours you can carve out each week. Running two courses in parallel is common for those aiming at the shorter end of that range.

What You Need Beyond the Exams

Passing all eight exams doesn’t by itself entitle you to use the credential. You also need three years of full-time experience in financial planning or a related profession,¹ and that experience must fall within the five years immediately before the designation is awarded.⁵ You can start coursework before you meet the threshold; you just can’t receive or use the credential until the three years are in place.

There is no bachelor’s degree requirement. A high school diploma or equivalent is the only academic prerequisite,¹ which keeps the program open to professionals who came up through licensing exams rather than a four-year college path. Every applicant also agrees to comply with the American College’s Code of Ethics, and that commitment stays in force as long as you hold the credential. Violations can lead to suspension or revocation.

Keeping the Credential After You Earn It

The ChFC is not a one-time test. Client-facing advisors complete 30 hours of continuing education every two years, including at least one hour of ethics. Non-client-facing holders complete one hour of ethics CE per two-year cycle.⁶ The recertification fee is annual: $200 for client-facing advisors, $115 for non-client-facing professionals. Miss the deadline and a $60 late fee applies. If you still haven’t recertified by March 31 of the following year, reinstatement costs an additional $110 on top of the late fee, and all outstanding CE hours must be completed before your right to use the mark is restored.⁷

The Series 65 Waiver

Completing the ChFC carries a practical bonus that catches many candidates by surprise. The North American Securities Administrators Association lists the ChFC among the professional designations that qualify for a waiver of the Series 65, the standard licensing exam for investment adviser representatives.⁸

The waiver is specific. It applies to the Series 65 only, not the Series 66, which combines the Series 63 and Series 65. If your firm requires the Series 66, you still sit for it. The waiver also doesn’t erase other state licensing requirements such as background checks and registration fees, so confirm the details with your state securities administrator before assuming any step is off your list.⁸

1
The American College of Financial Services. ChFC Chartered Financial Consultant
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The American College of Financial Services. Taking Your Exams
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The American College of Financial Services. Student Handbook
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The American College of Financial Services. Tuition and Fees
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Financial Industry Regulatory Authority. About the Chartered Financial Consultant (ChFC) Designation
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The American College of Financial Services. Professional Recertification Program
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The American College of Financial Services. Designation Reinstatement and Enforcement Policy
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North American Securities Administrators Association. Exam FAQs