Survey of CFP® Professionals Shows High Level of Satisfaction with Career Choice

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Survey of CFP® Professionals Shows High Level of Satisfaction with Career Choice

Sep 26, 2011

Washington, DC, September 26, 2011 – CERTIFIED FINANCIAL PLANNER™ professionals are very satisfied with their career choice, intend to keep the certification for nearly two decades and agree that financial professionals should adhere to a fiduciary standard of care, according to a new survey by Certified Financial Planner Board of Standards, Inc.

Conducted by Westat, the survey results provide an in-depth picture of a CFP® professional in 2011, providing valuable information about demographics, where CFP® professionals work and the clients they serve.

Key findings of the survey include:

  • 86 percent of respondents are very satisfied with their career choice in financial planning

  • 88 percent strongly agree that financial professionals providing personalized investment advice should be held to a fiduciary standard of care

  • 91 percent of respondents would recommend the CFP® certification to other financial professionals

  • 75 percent of respondents strongly agree that the CFP® certification contributes directly to their own professional success

  • CFP® professionals expect to hold their certification for 19 years, up from 15 years in 2008

“These survey results reflect what our more than 63,000 CFP® professionals already know – the CFP® certification is of great value to their careers, their employers and most importantly, their clients,” said Chief Executive Officer Kevin R. Keller, CAE. “While these results are certainly positive, we will continue our work to enforce and strengthen the high standards for CFP® certification so that it remains the gold standard in personal financial planning.”

Other results from the survey show CFP® professionals earning a median of $144,850 a year and serving an average of 100 clients who have a median of $450,000 in investable assets.

The survey was conducted in late July and early August using a random sample of CFP® professionals. The response rate was 82 percent, with Westat completing telephone surveys of 297 CFP® professionals. The sampling error is +/- 4.5 percent and has a 95 percent confidence level.

Survey results can be found here.

ABOUT CFP BOARD: The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. CFP Board currently authorizes more than 63,000 individuals to use these marks in the United States.

Dan Drummond, Director of Public Relations
P: 202-379-2252
M: 202-550-4372
Twitter: @CFPBoardmedia

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Speaker's Bureau
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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