About us

The beginning:  The Institute of Certified Financial Consultants (ICFC) was founded in 2004 as the first non-governmental self-regulatory organization of financial services professionals in Bulgaria.

Our Mission:

  1.  To develop and promote the financial planning in Bulgaria in accordance with the best internationally recognized practices;
  2.  To assist financial advisers in their professional development with a view to helping them provide competent and ethical service to their clients;
  3.  To contribute to increasing the financial capability of the general public.


  1.  2007 – Developed an education program for financial advisors – 5 modules;
  2.  2007 – Partnered with the accredited Higher School of Insurance and Finance (VUZF) to deliver the education program. The first five students graduated in 2008;
  3.  2008 – Adopted a Code of Ethics of the ICFC;
  4.  2008 – Developed a comprehensive exam for ДФК®;
  5.  2009 – Registered the ДФК trade mark as a national mark of professionalism, competence and ethics in financial planing;
  6.  2010 – Six individuals who met the education, examination, ethics and experience standards were certified as ДФК®.
  7.  2013 – As of end 2013 there are ten certified financial consultants ДФК® in Bulgaria.
  8.  2015 – 42 completed the education, examination, ethics and experience requirements and were awarded the  ДФК® certification.
  9. 2017 – 17 individuals were certified after fulfilling certification requirements. The total number certified financial consultants ДФК® in good standing reached 53.

Raising awareness:

  1.  2005 – Organized a Conference on Financial Education and Consumer Protection in Bulgaria. The Conference was hosted by the Financial Supervisory Commission;
  2.  2007 – Organized a Discussion Forum on the State of the Professional Financial Advise in Bulgaria. The Discussion Forum was hosted by the VUZF;
  3.  2008 – Participated in Seminar “Financial Consulting” for graduate students. The Seminar was organized and hosted by Foundation “Atanas Burov”;
  4.  2009 – Co-sponsored a Seminar on Investments for Individuals and Electronic Trade with Bulbrokers AD, a leading broker-dealer in Bulgaria.
  5.  2014 – ICFC and VUZF held a discussion about the Future of Financial Planning in Bulgaria on the occasion of the 10th anniversary of the ICFC.

Managing Board:

Lubomir Christoff, Ph.D., ChFC – Chairman of the Board

Waltchin Daskalov, Ph.D., attorney at law – Deputy Chairman of the Board

Ass. Prof. Stefan Petranov, Ph.D., Member of the Board, “Zlaten Lev” Asset Management Company

Contact us:


tel/ fax +(3592) 963 0414

Mailing address:


27, Luben Karavelov street,

1142 Sofia, Bulgaria