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Original article in Korean:
Samsung Securities achieves the highest number of successful CFP candidates again [LINK]
Samsung Securities achieves the highest number of
successful CFP candidates again
Samsung Securities Co. has announced on June 22 that it put the names of 30 employees on the list of the successful CFP (Certified Financial Planner) examination candidates, which is the highest number in the 19th CFP test held in May. South Korea’s top brokerage has a total of 302 CFPs, and about 30 percent of the company’s private bankers possess CFP qualifications.
The CFP credential is known as a “professional private banker certificate” in the financial industry. The CFP certification examination is given in 22 countries around the world in accordance with global standards set by the U.S.-based Certified Financial Planner Association for a variety of fields such as financial knowledge and ethics. At present, there are 130,000 CFPs globally and about 3,700 CFPs in Korea. About 600 CFPs are currently working in the domestic stock market.
About 180 applicants working at brokerages, banks and insurance companies passed this year’s test. More than half of the successful candidates (53 percent) are working in the banking industry, followed by 32 percent in the securities industry and 14 percent in the insurance industry. Out of 56 successful candidates from the securities industry, more than half, 30, are working for Samsung Securities.
“Newly employed private bankers are required to acquire the CFP qualification in two years after joining the company. Those who pass the examination are celebrated in a luncheon held by chief executive officer, and an additional point is given to them with respect to performance evaluation and promotion. Since earlier this year, we’ve actively supported for educational costs in an aim to encourage each one of all the employees to achieve an internationally recognized certificate,” said Jang Seok-hun, director at the Office of Strategy and Personnel Management of Samsung Securities.
Samsung Securities plans to increase the number of CFP certificate holders to 500, about half of the company’s private bankers, by 2013.