What You Need to Know
- The same percentage of those polled were strongly satisfied with their decision to pursue CFP certification.
- Half of CFPs reported that inquiries from prospective clients increased as the pandemic evolved.
- The number of CFPs engaged in pro bono financial planning declined a bit during the pandemic.
Most certified financial planners continue to be strongly satisfied with their career choice and decision to pursue CFP certification, according to the findings of a new survey of CFP professionals conducted by Fondulas Strategic Research for the Certified Financial Planner Board of Standards.
Those were just two of the main findings from the latest Survey of CFP Professionals, conducted every two years, CFP Board said Wednesday.
According to the 2021 survey, 93% of CFPs polled said they were strongly satisfied with their career choice in financial planning, compared with 93% in 2019 and 92% in 2017.
Similarly, 93% said they were strongly satisfied with their decision to pursue CFP certification, compared with 92% in 2019 and 91% in 2017.
Meanwhile, 93% would recommend the CFP certification to other financial professionals, compared to 89% in 2019 and 91% in 2017.
Among the other findings: 87% agreed that CFP professionals have a “competitive edge” over financial planners who do not hold the credential, compared with 83% in 2019 and 2017; 82% agreed that becoming a CFP professional had directly contributed to their success as a personal financial planner, compared with 78% in 2019 and 77% in 2017; and 81% agreed that the value of CFP certification justified the costs of renewing the credential, compared with 77% in 2019 and 76% in 2017.
“These results continue to prove that earning CFP certification is the most important step you can take to accelerate your career and help your clients achieve their financial dreams,” according to Kevin R. Keller, CFP Board CEO.
The survey also found that CFP professionals’ services have been in demand during the COVID-19 pandemic.
Fifty percent reported that inquiries from prospective clients increased as the pandemic evolved — significantly higher than the 34% reported in an April 2020 survey the CFP Board conducted early in the pandemic.