Certified financial planner professionals report very high satisfaction with their career choice and decision to obtain the CFP certification, according to a new survey by the Certified Financial Planner Board of Standards.
As of May 31, there were 77,880 CFP professionals, an increase of more than 4,000 since 2015. The 2017 Survey of CFP Professionals was conducted via telephone conversations with 800 CFP professionals in late May and early June using a random sample..
The survey results provide an in-depth picture of CFPs’ 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. A version of the survey was last conducted in 2015.
According to the survey, 91% are very satisfied with their career choice in financial planning, with 72% giving the highest rating to career satisfaction — a five-point increase from the 2015 survey.
CFP professionals believe they have a “competitive edge” over financial planners who do not hold the credential, with 83% affirming this in the survey. And 77% of respondents strongly agree that the CFP certification contributes directly to their own professional success.
A majority (66%) also feel that becoming a CFP professional had a positive impact on their income.
Nearly all of those surveyed (91%) said they would recommend the CFP certification to other financial professionals.
The survey also measures CFP professionals’ views of CFP Board’s priorities and initiatives, and the financial planning profession overall.