The Financial Planning Profession
The financial planning field is experiencing tremendous growth from both financial professionals and those who are new to the field. In order to meet the challenges faced by financial planning professionals, it is becoming increasingly important to develop the necessary skills and knowledge that will help clients manage their risks and achieve their goals.
According to the Occupational Outlook Handbook (2011), employment as a financial planner is expected to grow much faster than average through 2018. As people live longer during retirement and as people are more responsible for their own retirement plans, demand for financial planners will continue to grow faster than average.
A recent Newsweek article, Planners Wanted ASAP (Quinn, 2/23/08), notes that "the credible planners will have at least one of three designations on their business cards: CERTIFIED FINANCIAL PLANNERTM (CFP® mark, the best-known credential), Chartered Financial Consultant (ChFC, for planners who use insurance to reach financial goals) or Personal Financial Specialists (PFS, held by certified public accountants). All three will have taken serious courses and passed difficult exams."
Certification - What Other CFP® Professionals Say:
- They experienced an average increase of 31% in first-year earnings after CFP® Certification.*
- 75% say that their CFP® Certification has been a major catalyst for their success.**
- 91% agree that their credibility is strengthened from their clients' point of view.**
*College for Financial Planning 2008-2009 Survey of Trends in the Financial Planning Industry
**Certified Financial Planner Board of Standards' December 2008 CFP® Certificant Survey