CFEI Designation Credibility & Standards
Across most industries that require training, professionals are required to conform to standards that outline the core competencies an individual must achieve to receive credentials. Until the NFEC, there were no standards for financial educators and no other group has developed any since.
The NFEC developed the first national standards and core competency guidelines for financial literacy instructors to guide the industry. To develop these standards, the NFEC teamed up with the Danielson Group Consultants, founded by the author of The Framework for Teaching (the most widely-used teaching model in the US, used in more than 20 states).
The National Financial Educators Council is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.
The Framework for Teaching Personal Finance
The Framework for Teaching Personal Finance is the only national standards for financial education instructors. This framework identifies the educator responsibilities proven by empirical studies and theoretical research to produce the highest gains in participant test scores. This comprehensive, coherent structure provides clear benchmarks to enhance educators’ professional development.
The NFEC chose to partner with Danielson Group consultants to modify Charlotte Danielson’s Framework for Teaching to meet the specific needs of Financial Education Instructors. The Framework for Teaching is the most widely-used teaching model in the United States, and has been adopted as the single model, or one of several approved models, in more than 20 states.
The Framework for Teaching is backed by evidence-based research and wide acceptance by educators, administrators, policymakers, and academics. It identifies skill sets educators should possess and performance levels that define instructor capabilities. These qualities are what led the NFEC to select the Framework for Teaching as its solution for developing benchmarks for financial education instructors.
Core Competencies for Financial Education Instructors
Instructional Techniques. Understanding of research-based educational methodologies to increase learner application.
Subject Matter Knowledge. Sufficient understanding of the topics being taught to lead programming with confidence.
Lesson Planning & Preparation. Knowledge of how to design an educational path that matches learners’ abilities.
Manage Classroom Environment. Ability to create a learning environment that gives learners a feeling of security.
Behavioral Finance & Psychology. Knowledge of the psychological principles that affect financial literacy education.
