IDFA's Mission Statement
Training professionals to use the financial planning discipline in helping clients facing divorce.
The Vision for IDFA
The Institute for Divorce Financial Analysts is the authority on divorce planning theory and application in North America. IDFA will establish standards for certification of divorce financial analysts that are objective, reliable meet and current benchmarks for certifying bodies.The IDFA helps to ensure the financial health and welfare of the divorcing public through the certification of individual as Certified Divorce Financial Analysts.
- Establish certification standards for CDFA®
- Evaluate compliance with these standards;
- Monitor and enforce continued compliance
Financial Expertise and Strategy
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:
- Understanding the short-term and long-term effects of dividing property.
- Analyzing pensions and retirement plans.
- Determining if the client can afford the marital home, and if not, what he or she can afford.
- Recognizing the tax consequences of different settlement proposals.
Data Collection and Analysis
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:
- Collect financial and expense data.
- Help clients identify their future financial goals.
- Develop a budget.
- Set retirement objectives.
- Determine how much risk they are willing to take with their investments.
- Identify what kind of lifestyle they want.