New Research on Racial and Ethnic Diversity

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New Research on Racial and Ethnic Diversity

May 10, 2018

New Research Report: Removing Barriers to Racial and Ethnic Diversity in the Financial Planning Profession, Released May 2018

As consumer demand for financial advice grows, it is imperative that the financial planning profession work toward expanding and diversifying the ranks of financial planning professionals who can meet the needs of increasingly diverse consumers.

Based on self-reported data provided to CFP Board, less than 3.5 percent of all 80,000 CFP® professionals in the United States are black or Latino, which is significantly less than the representation of blacks and Latinos in the U.S. population.

To address this challenge and its root causes, the CFP Board Center for Financial Planning commissioned a comprehensive research study in 2017 to identify the barriers to racial and ethnic diversity in the financial planning profession. The full research and key findings are now available in the new report, "Removing Barriers to Racial and Ethnic Diversity in the Financial Planning Profession." 

View the Research and Key Findings

The study was funded by generous contributions from the Charles Schwab Foundation and Capital One, as well as TD Ameritrade Institutional, the Center’s Lead Founding Sponsor, and Northwestern Mutual, Founding Sponsor.


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