2013 Year-End Summary

For Employers of CFP® Professionals


2013 Year-End Summary


Welcome to our year-end issue of INSIGHT. This issue highlights some of CFP Board's 2013 events and initiatives. If you have any questions, or would like additional information on any of the items below, please don't hesitate to email us at jmaugeri@cfpboard.org or smuehlbauer@cfpboard.org

Have a wonderful holiday season, and a happy New Year.

Joseph Maugeri, CFP®                                      Sara Muehlbauer
Director of Firm Relations                                  Firm Relations Manager

Survey: Consumers Want Advisers to Focus on Financial Planning

According to a survey released by CFP Board in August, 91% of respondents expect a financial adviser to take into account their total financial situation, and 70% said they’d prefer to work with a financial adviser who provides comprehensive financial planning services.

Additional insights include:

  • 84% of respondents said certifications play a role in choosing a financial adviser.
  • 87% said they would feel more confident working with someone who has a financial planning certification.
  • 48% of all respondents, and 64% of respondents between the ages of 18 and 24, said that “strong knowledge of financial planning” was most important to them in choosing a financial adviser.
Click here to access additional information, including the announcement and a copy of the survey.

New Websites for CFP.net and LetsMakeaPlan.org Unveiled in February
Early in 2013, CFP Board unveiled redesigned versions of www.CFP.net and www.LetsMakeaPlan.org. The new sites introduced an array of features and resources for CFP® professionals, prospective CFP® certification candidates, education providers, policy makers, and the public.

Improvements include:

  • Enhanced Public Awareness Campaign toolkit, found here.
  • Searchable CE feature, found here.
  • Expanded "Find a CFP® Professional" tool, found here.
  • Easier navigation and responsive design. 
For additional information on the redesigned websites, click here

CFP Board Social Media Survey and Guide
In early 2013, CFP Board released the results (here) of a comprehensive survey of CFP® professionals' use of social media, as well as a guide to help CFP® professionals use social media to promote their CFP® marks.

Highlights from the survey include:
  • 73% of respondents use social media, though only about 45% use it for professional purposes.
  • The top reasons CFP® professionals cite for not using social media in a professional capacity include compliance prohibitions and limitations (37%), and uncertainty over compliance and regulatory requirements (33%).
  • 70% stated their firm or company has a formal social media policy in place.
CFP Board's Social Media Guide for CFP® Professionals, found here, provides tips and best practices for professionals who are getting started with social media or enhancing a current social media strategy. All professionals are encouraged to check with their compliance department for information and guidance prior to using any social media network.

CFP Board Appoints Women's Initiative Advisory Panel

In May 2013, CFP Board Chair, Nancy Kistner, CFP®, announced an initiative to increase the number of women entering the financial planning profession, including the number of female CFP® professionals. 

Currently, only about 23 percent of the nearly 69,000 CFP® professionals are female - a statistic that hasn't shifted in a decade. To inform the initiative's efforts, CFP Board appointed a Women's Initiative Advisory Panel made up of leading experts in the financial planning field. 

The Advisory Panel is helping to identify the challenges women face when becoming certified and beginning a career in financial planning, and will recommend solutions to increase the ranks of female CFP® professionals. 

To read the announcement and see a list of the panel members, click

CFP® Professionals Show Continued Satisfaction with CFP® Certification

In November, CFP Board released the results of a survey that provided an in-depth picture of CFP® professionals’ perceptions of the value of their CFP® certification, its impact on their careers, and their views of CPF Board and the financial planning profession. A previous version of the survey was conducted in 2011.

Key findings from the 2013 survey include:

  • 91% of respondents are very satisfied with their career choice in financial planning. This is a six point increase from the 2011 survey.
  • 92% are very satisfied with their decision to pursue CFP® certification.
  • 76% strongly agree that CFP® certification contributes directly to their own professional success.

For additional information on the survey, as well as a copy of the results, please click here.

Important Dates
March CFP® Examination
Registration Deadline: February 11, 2014
Examination Dates: March 21-22, 2014

July CFP® Examination
Registration Deadline: June 10, 2014.  Register
Examination Dates: July 18-19, 2014

Know Someone Who Should Receive this Newsletter?

Send their full name and email address to Sara Muehlbauer, here.

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