A CFP® Professional’s Impact: Beyond the Money
In a seminal webinar hosted by CFP Board, researchers unveiled the inaugural findings from the multiyear Financial Planning Longitudinal Study (FPLS), the first peer-reviewed, multiyear research effort of its kind. This landmark research highlights the measurable, positive impact of well-executed financial planning and underscores its transformative effect on clients’ lives.
The FPLS is planned to track households over a period of at least 10 years, offering a rare long-term view into the outcomes associated with professional financial planning.
CFP Board launched the FPLS to evaluate how holistic financial planning affects both financial and non-financial client outcomes over time. The study draws comparisons between households served by CFP® professionals and those who work with other advisors or without any professional assistance.
Key Findings
Initial results are encouraging, with data suggesting that clients of CFP® professionals experience:
- Improved financial health
- Greater non-financial outcomes, such as confidence and reduced stress
- Fewer conflicts about money
These findings provide compelling evidence that CFP® professionals deliver more than just technical expertise; they also foster trusted relationships built on empathy and personal connection.
Why This Matters
The FPLS provides rigorous, academic validation not just of the value of CFP® professionals but also of the broader value of financial planning itself. It offers CFP® professionals the ability to demonstrate — not just tell — clients and prospects that choosing a CFP® professional provides a better experience and leads to better outcomes.
According to the data, clients who work with CFP® professionals tend to have more in-depth, long-term engagements. They also report that their advisors take the time to understand their families, values and money-related dynamics.
Importantly, the benefits go beyond the balance sheet. Clients of CFP® professionals are more likely to say they live comfortably, have less “money anxiety” and are more satisfied with their financial lives.
Ultimately, that’s what truly matters: building confidence today for a more secure tomorrow.
Researchers interested in accessing and analyzing the FPLS data can learn more here.
What’s Next?
This is just the beginning. With years of tracking ahead, the FPLS will continue to compare the trajectories of households working with a CFP® professional versus those that do not. Each new wave of data will deepen our understanding of the impact CFP® professionals have on their clients.
This first look at CFP Board’s Financial Planning Longitudinal Study marks a pivotal moment for the financial planning profession. These initial key findings suggest that CFP® professionals provide more than just sound advice; they deliver a broad impact that resonates in improved client habits, mental health and long-term financial outlook. It’s this impact — beyond money — that only CFP® professionals can deliver. Year two has big shoes to fill.