Why Would a CFP Review Provider Not Offer Free Repeats?
I’m often disappointed but seldom surprised by the policies of some CFP exam review providers. Here’s the issue, when considering which review provider to trust enrolling with, wouldn’t it make sense to choose a review provider that will stick with you if you’re not successful on the exam? Wouldn’t it make sense for a review provider to be confident in their instructors, materials, methodology and offer a guarantee that you’ll pass the exam, otherwise you can take the review again for free? Of course it makes sense! Any quality review provider with good pass rates would ALWAYS offer their students free repeats. The only reason a review provider would not offer free repeats is if too many of their students aren’t passing the exam and the percentage of students retaking their reviews is too high and the review provider doesn’t have enough first time “paying” students relative to “free” retake students. Some review providers will try to get around the issue by offering a 50% discount if you want to take the review again. Any review provider that believes in themselves and their students will offer 100% free repeats. If a CFP review provider doesn’t offer free repeats, they don’t trust themselves and they don’t trust their students.
Let's consider why a review provider would NOT offer free repeats. Let's take the Kaplan CFP review for example. They used to have a free repeat policy, but they recently changed the policy to charge repeat students 50% of the review fee. Why do you think they changed the policy? Well, we already know that the national pass rate on the CFP exam is 50-55%, so let's say they had a review class of 20 students, but 50% of those students are retaking the review because they were unsuccessful on the exam. So only 10 students are actually paying for the class. The economics of offering a review would make the class unprofitable because of too many “retake” students. So, instead of changing their materials or review methodology to improve their pass rates, they just change their policy to charge students for retaking the review. Like I said, I’m often disappointed but seldom surprised by some CFP exam review providers.
At The Dalton Review® for the CFP exam, we have always offered free repeats and we’re able to do it because our pass rates are consistently 70-80% and it’s the right thing to do for our students. As a matter of fact, we have two guarantees:
- We Guarantee Your Success – otherwise take the review again for free.
- Guarantee Your Own Success – take our review twice before you even take the exam.
The Dalton Review® course costs $1,395, including all materials and students are able to take the review multiple times, at no additional cost. We trust our instructors, materials and methodology, but most of all, we trust our students to follow our study plan and ultimately be successful on the CFP exam.
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What Professionals Say About Dalton
"I recommend Dalton's CFP study program to anyone who is planning to sit for the test. It is thorough, well guided, and offers many resources for individual support. I can honestly say that I went into the exam KNOWING that I was going to pass."
"It came down to the enrollment advisor's responsiveness in addressing my questions/concerns as primary and then the ability to be flexible with online courses and working through the coursework. Absolutely would recommend Dalton! After having taken the exam (and passed!) last week, I appreciate Dalton's questions even more as they were more realistic to what I saw on the exam. Thank you! Keep up the good work!"
"Combined with hard work and dedication, Dalton Education made sure I had what was needed in order to succeed. Without their experience, diligence, and structure, I would have spent more time worrying about what to study and when rather than putting in the hours needed to pass. Dalton knows how to get it done the first time around!"
"I have thoroughly enjoyed the Dalton Education CFP study program. I completed the 10 week review for the exam, including a 4 day live review. I successfully passed the CFP exam and I owe my success to Dalton and their incredible team of instructors. The Dalton materials, coursework, virtual classroom and schedule are not only intuitive and user friendly for a working mother, but they are top notch. I felt prepared for the exam, and after passing the exam I realized how Dalton had not only prepared me for everything but they over prepared me. I have a deep understanding for financial planning, and I look forward to taking my career to the next level. Thank you Dalton! A huge shout out to a team of highly intelligent and helpful instructors!"
"Dalton provided me the materials, resources, and structure that I needed to complete my certification. From the beginning, I greatly appreciated a detailed schedule for staying on track with the material while allowing you the flexibility between deadlines to manage your work and personal life alongside my certification work. It helped me plan study time accordingly and gave me a practical benchmark for preparation time. That said, each professor teaching the material stood out to me whether it was because of their experience with the CFP exam, pedigree, and/or knowledge and presentation of the material."
"What I love about the CFP course through Dalton is the flexibility. I have co-workers who are taking the program through other providers and they are stuck all day on a Saturday reviewing and taking tests – not for me. Also, the exam prep materials are amazing! I love the flash cards and the Quick Sheets. The instructors are amazing and I have felt very supported along the way. I would definitely recommend Dalton to others."
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