In 2024, the number of certified financial planners hit 103,093 — an increase of 4.3% over 2023, according to the Certified Financial Planner Board of Standards, with a total of 10,437 candidates sitting for the exam.
This was a faster growth rate than in 2023, when the number of CFPs rose nearly 4%. On net, the CFP population grew by 4,218 members in 2024.
“The value of CFP certification has never been stronger,” said CFP Board CEO Kevin Keller, in a statement. “CFP certification is the most recognized and respected financial planning designation among financial services firms, financial professionals and the public.
"It builds trust and credibility, showing clients and employers that a financial professional has met rigorous standards for ethics, education and experience,” Keller added.
Last year, 6,541 new CFPs joined the ranks, the group reported Thursday. Of these new certificants, 57% are under 35, bringing the total share of all certificants under age 50 to 55.6%.
Twenty-six percent of the new class, or 1,720, are women. The total number of female CFPs increased 4.5% to 24,546, representing 23.8% of all CFPs — flat from 2023 and up slightly from 23.6% in 2022 and 23.4% in 2021.
The number of racially and ethnically diverse professionals surpassed 10,000 for the first time, CFP Board said, increasing to 10,239 (9.9% of all CFPs) and signifying a growth rate of 8.8% — twice the overall growth rate.
In 2024, 3.8% of CFPs were Asian American, 1.9% were Black, 2.6% were Hispanic or Latino, and 1.5% were multiracial or multi-ethnic.
The Board also said its public awareness campaign significantly boosted the recognition of the CFP mark in 2024.
Results from an independent research firm found 89% of respondents preferred to work with a financial planner with CFP certification (up 5% from 2023), with 83% saying they would recommend using a CFP professional (up from 74% in 2023).
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