The MAFF credential is designed to provide assurance to the legal and business communities—the primary users of financial litigation services—that the designee possesses a level of experience and knowledge deemed acceptable by the Association to provide competent and professional financial litigation support services. To earn the MAFF credential, candidates must attest to having met certain prerequisites and Experience Requirement, plus pass a five-hour proctored exam that tests to NACVA's Financial Forensics Body of Knowledge (FFBOK). To prepare for the exam, NACVA sponsors and recommends a five-day course entitled, Financial Litigation Consulting Professionals Workshop (previously titled Foundations of Financial Forensics Workshop). To support our MAFF designees and the entire financial forensics discipline, NACVA offers intermediate to advanced training in eight areas of specialized focus (specialty areas). Those areas are:
1. Commercial Damages and Lost Profits;
2. Matrimonial Litigation;
3. Bankruptcy, Insolvency, and Restructuring;
4. Business Valuation in Litigation;
5. Business and Intellectual Property Damages;
6. Personal Injury and Wrongful Death;
7. Forensic Accounting; and
8. Fraud Risk Management.
CDFA® professionals provide the client and attorney with data analysis that shows the financial effect of any given settlement. They become part of the divorce team and provide support on financial issues such as:
Much of a CDFA® professional’s role is collect the client’s financial data and perform analysis. CDFAs can help manage a client’s expectations of their financial future by presenting different scenarios and talking through the client’s budget and expenses. CDFAs are trained to:
Unlike many financial advisors, CFP® professionals must develop their theoretical and practical knowledge by completing a comprehensive course of study at a college or university offering a financial planning curriculum approved by CFP Board. Applicants may also satisfy the education requirement by submitting a transcript review or previous financial planning-related course work. Or, they can show that they have attained certain professional designations or academic degrees that cover the important subjects in CFP Board’s financial planning curriculum.
CFP® professionals must pass the comprehensive CFP® Certification Exam, which tests their abilities to apply financial planning knowledge to real-life situations. The exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance. This comprehensive exam ensures that a CFP® professional is highly qualified to develop a plan for your finances.
CFP® professionals complete several years of experience related to delivering financial planning services to clients prior to earning the right to use the CFP® certification trademarks. This hands-on experience guarantees that CFP® professionals have practical financial planning knowledge, so you can count on them to help you create a realistic financial plan that fits your individual needs.
When it comes to ethics and professional responsibility, CFP® professionals are held to the highest of standards, as outlined in CFP Board's Standards of Professional Conduct. They are obliged to uphold the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence as outlined in CFP Board’s Code of Ethics. The Rules of Conduct require CFP® professionals to put your interests ahead of their own at all times and to provide their financial planning services as a “fiduciary”—acting in the best interest of their financial planning clients. CFP® professionals are subject to CFP Board sanctions if they violate these standards.