The benefits of CFP certification are numerous. As the national Certified Financial Planner (CFP) Board of Standards states on their Web site at www.cfp.net, “your expertise and credibility as a financial planner is instantly communicated with the CFP® marks - the financial planning certification most sought after by consumers and financial planners alike.” Below you will find a list of benefits and points of interest from a variety of sources for those considering certification in the field of financial planning.
U.S. Department of Labor, Bureau of Labor and Statistics.
- Studies have shown that the average* annual increase in first-year earnings following CFP certification is 31.1%.
- Projected to be one of the top 10 fastest growing occupations.
**Average as reported in the College for Financial Planning 2009-2011 Survey of Trends in the Financial Planning Industry. Past results do not predict future results.
From the Bureau of Labor Statistics’ Occupational Outlook Handbook.
- The median annual wage of personal financial advisors was $64,750 in May 2010. The lowest 10 percent earned less than $32,660, and the top 10 percent earned more than $166,400.
- Personal financial advisors who work for financial services firms are often paid a salary plus bonuses. Bonuses are not included in the wage data.
- Employment of personal financial advisors is projected to grow 32 percent from 2010 to 2020, much faster than the average for all occupations.
- Personal financial advisors typically need a bachelor's degree. A master’s degree and certification can improve chances for advancement in the occupation.
- Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients.
CFP Board 2011 CFP Professionals Survey & CFP Board 2009 National Consumer Survey on Personal Finance.
- 75% of CFP® professionals say that their CFP® certification has been a major catalyst for their success.
- 86% of CFP® professionals are satisfied with their careers.
Benefits of CBU’s Education Program in Conjunction with Kaplan
- Fulfill the CFP Board’s education requirement in 12 months with a convenient part-time schedule beginning in September.
- Classes are held at a level that is challenging for both the financial services professional and career changers.
- There is a relationship between the Certificate in Financial Planning program at CBU and the CBU MBA program. In most cases, a student who completes the transfer of the hours earned in the CFP to the MBA will have fulfilled the MBA requirement of earning their nine hours of elective concentration credit, resulting in you being able to complete the Orientation and eight core MBA courses to complete the MBA program in a reduced time period and at a reduced cost. If you have successfully passed the Certified Financial Planning examination for licensure, the MBA Director will also waive the entrance requirement of the GMAT or GRE examination which will expedite acceptance into the program at a reduced cost of admission.
Certified Financial Planner Board of Standards Inc. owns the marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP (with flame logo)®, which it awards to individuals who successfully complete initial and ongoing certification requirements.
Christian Brothers University does not certify individuals to use the CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP (with flame logo)® certification marks. CFP certification is granted only by Certified Financial Planner Board of Standards Inc. to those persons who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met its ethics, experience and examination requirements.