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November 08, 2013 at 07:24 AM
(Editor’s note: An earlier version of this story miscalculated the timing of recent events that alter the original angle of the story. The controversy surrounding the fee-only planner designation began in earnest after former CFP Board Chairman Alan Goldfarb was sanctioned on June 18; the survey was conducted from late May to early June. The statistics presented here are not connected to the recent controversy, and the story has been changed to reflect this.)
Nearly two-thirds (63%) of CFPs say the CFP Board’s services meet their expectations, according to a just-released survey by the CFP Board.
That is a big jump from the 48% who felt this way in 2011, when the survey was last conducted.
The telephone survey of a random sample of 803 certified financial planners was conducted in late May and early June by Fondulas Strategic Research, and provides what the CFP Board says is an “in-depth picture” of CFP professionals’ perceptions of the value of their CFP certification, its impact on their careers, and their views of the CFP Board and the financial planning profession.
The survey found that 91% of the CFPs polled said they were “very satisfied” with their career choice in financial planning — a six-point increase from the 2011 survey — and that 92% of the CFP respondents were very satisfied with their decision to pursue CFP certification.
Sixty-four percent of respondents also said that becoming a CFP professional had a positive impact on their income.
