CFP Board announced recently that there were 6,541 new Certified Financial Planner (CFP) certificants in 2024, closing out a milestone year with record numbers of new certificants, exam candidates, and total CFP professionals.
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As of Dec. 31, 2024, the number of CFP professionals reached an all-time high of 103,093, an increase of 4.3% over 2023. Last year also had the most exam candidates in CFP Board history, with a total of 10,437 candidates sitting for the exam. CFP Board said in a press release that the growth mirrors the success of its public awareness campaign, which has significantly boosted recognition of and preference for CFP certification, reinforcing its value as the standard in financial planning.
“The value of CFP certification has never been stronger,” said CFP Board CEO Kevin R. Keller, CAE. “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.”
Big firms behind growth spurt
CFP Board announced today that major financial firms are responsible for the largest increases in new CFP professionals in 2024. Of the 6,541 new CFP certificants in 2024, more than 1,000 were employed by Edward Jones. Nearly 5,000 financial advisors and credentialed home office employees at Edward Jones now hold the CFP credential.
In addition, three firms—Edward Jones, Fidelity and Northwestern Mutual—have added at least 250 CFP certificants in each of the past two years. Other firms that have topped 4,000 CFP certificants include Ameriprise, Merrill Wealth Management and LPL Financial.
“It reflects the investment our colleagues make in themselves, building their professional acumen in service of our firm’s purpose: to improve the lives of our clients, colleagues and communities.”
Penny Pennington, Edward Jones
“CFP certification represents knowledge, competence and a commitment to ethical practices,” Keller said. “For consumers, it signals that they are working with an advisor who has met rigorous standards. And for employers, CFP professionals bring unmatched expertise and credibility, elevating the quality of financial advice.”
In 2024, six firms added at least 200 new CFP professionals. Beyond the 1,084 at Edward Jones, Fidelity Investments added 414, Northwestern Mutual 265, LPL Financial 244, Merrill 239, and Charles Schwab 216.
“I am so proud of our colleagues at Edward Jones for earning their Certified Financial Planner designation in such record numbers,” said Penny Pennington, Managing Partner, Edward Jones. “It reflects the investment our colleagues make in themselves, building their professional acumen in service of our firm’s purpose: to improve the lives of our clients, colleagues and communities. This milestone also underscores the investment we make as a firm in professional development, building an environment where the best professionals in our industry can create thriving careers of significance with flexibility, autonomy and choice. Together, we help more families build financial well-being and achieve even more possibilities in their lives.”
Most diverse CFP class in history
The 2024 class of CFP professionals was the most diverse in CFP Board history. The cohort trended younger—with 57% of new certificants under age 35—and the number of women CFP professionals grew by 4.5%. Racially and ethnically diverse CFP professionals surpassed 10,000 for the first time, signifying a growth rate of 8.8%—twice the overall growth rate of all CFP professionals.
More than 10,000 firms across the U.S. employ CFP professionals. Since 2011, total awareness of CFP certification among the target consumer audience has increased from 75% to 91%, and preference for a CFP professional has increased from 22% to 89%.
“Consumers view CFP certification as the hallmark of trustworthy and competent financial advice,” said CFP Board interim Managing Director of Corporate Growth Michael Donnelly, CFP. “Firms are responding by embracing CFP professionals to better serve their clients and enhance their firm’s growth.”
SEE ALSO:
• CFP Board Releases SECURE 2.0 Exam Resource, Reports All-Time High in CFP Professionals
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.