What is a CMFC®? A CHARTERED MUTUAL FUND COUNSELORSM, or CMFC®, designation from the College for Financial Planning indicates that the holder has completed a course of study encompassing all aspects of mutual funds and their uses as investment vehicles. Additionally, individuals must pass an end-of-course examination, agree to adhere to standards of professional conduct, are subject to a disciplinary process and must complete 16 hours of continuing education training every two years.