(StatePoint) Whether you’re launching a career in the financial planning profession or seeking professional advancement, summer is the perfect time to pursue CERTIFIED FINANCIAL PLANNER® certification. Here’s why a CFP® certification is worth your time and how to go about pursuing it:
A Career With It All: Landing a dream job can sometimes require sacrificing a high salary, but a career in financial planning means not having to choose. It’s both a career that pays well and one where you’ll be able to positively impact the course of people’s lives. The median total compensation for financial planners in 2023 was $192,000. And CFP® professionals, with their competitive edge, earn 10% more than other financial planners.
A Promising Future: While inflation is causing many Americans to worry about their wallets, financial advisors are shielded from some of these concerns. That’s because their 2022-2023 year-to-year compensation outpaced inflation by 10%. With demand for financial professionals high and expected to grow, working toward CFP® certification can offer security in the years to come.
A Professional Difference: Many people with no credentials call themselves financial advisors. CFP® professionals, however, have met extensive requirements that prepare them to competently and ethically advise their clients. They also commit to CFP Board’s ethical standards that require them to put their clients’ interests first. With 86% of consumers preferring an advisor who has passed a certification exam and rigorous education program, CFP® certification can position you to attract and retain clients.
A Flexible Process: CFP® certification is flexible, typically taking 18-24 months to complete. It requires completing coursework through a CFP Board Registered Program, passing an exam and gaining experience hours. For certification, you must also hold or earn a bachelor’s degree and sign an ethics declaration.
Ongoing Support: Available tools can support you during the CFP® certification journey. For example, you can track your progress with the CFP® Certification Tracker, find jobs and internships at the Career Center, connect with other candidates in an online forum and stay motivated with mentor guidance. Once you are certified, CFP Board resources can help you market yourself to employers and clients.
To get started on your CFP® certification journey, visit CFP.net.
Make time this summer for your future. Between trips to the pool and family vacations, take the right steps toward launching a successful financial planning career.
Photo Credit: (c) Choreograph / iStock via Getty Images Plus
