CFP Board Looks to Large Firms to Grow Ranks

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CFP Board Looks to Large Firms to Grow Ranks

Feb 06, 2013

The group that grants a well-known designation for financial planners is trying to swell its ranks and is winning support from some major brokerage firms including Bank of America Corp.'s (BAC) Merrill Lynch.

The Certified Financial Planner Board of Standards Inc. wants to see between 80,000 and 100,000 CFP® [professionals] in the next five years, up from about 67,000 today. After two years of calling on senior executives at large firms, seeking ways for them to encourage CFP® [certification] among their ranks, it plans to begin marketing to individual advisers this spring, said Kevin Keller, the CFP Board's chief executive.

These firms include the nation's biggest retail brokerages, often referred to as the wirehouses, as well as independent broker-dealer networks, insurance companies and other firms with sizable adviser forces. The goal is to "institutionalize CFP® certification into the culture," Mr. Keller said in a recent interview.

Wall Street Journal
Caitlin Nish
February 6, 2013

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CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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