The Five Benefits of a CERTIFIED FINANCIAL PLANNER™ Certification
1. Credibility
Becoming a CERTIFIED FINANCIAL PLANNER™ is globally recognized and seen as the gold standard in financial planning. By earning this financial planning certification, you gain immediate credibility with your potential clients, employers, and peers within the financial services sector. Meeting all the education, exam, experience, and ethics requirements to be certified displays the skills and dedication needed to provide top quality services in areas related to financial planning, risk management, and specific areas of financial planning like tax, insurance, retirement, estate, and investments. You even have to prove you can develop an effective financial plan in your capstone course.
CFP® candidates also sign a pledge of fiduciary standards of ethics as part of the credentialing process. With this commitment, you are bound to act in the best financial interests of your clients, inspiring prospective and current clients to extend you that next level of trust.[1]
2. Proven Knowledge and Skills
You have to complete a CFP Board-approved education as part of your CERTIFIED FINANCIAL PLANNER™ Education requirements. This confirms that you have the most up-to-date financial planning knowledge and skills in topics related to:
- Professional Conduct and Regulation
- General Principles of Financial Planning
- Risk Management and Insurance Planning
- Investment Planning
- Tax Planning
- Retirement Savings and Income Planning
- Estate Planning
- Psychology of Financial Planning
- Financial Plan Development
Then, by passing the CFP® Exam, you further demonstrate your ability to apply this knowledge to real-life scenarios to provide clients with the best services. This doesn’t just provide trust and credibility as we mentioned above, having these advanced skills can also build your confidence as a financial planner.
3. Standing out in the Job Market
The benefits of a CERTIFIED FINANCIAL PLANNER™ certification include a more competitive resume. As you earn more credentials, you become more desirable—both on the job market and in contracting clients—but this financial planning certification is the gold standard.
Employers prefer candidates who are CFP® professionals and often require this credential for higher level roles in management while clients actively seek out CFP® professionals to act as their advisor and planner. In fact, 79% of CFP® professionals express that they have a competitive edge over other financial advisors.1
If you’re already working as a financial advisor or planner or want to make a career change, there’s no better boost to your resume than becoming a CFP® professional.
4. Salary
Salary is probably the most attractive of the many benefits of a CERTIFIED FINANCIAL PLANNER™ certification. CFP® professionals earn about 12% more than non-certified financial planners.1
The CFP Board reports these national average salaries for CFP® professionals:[1]
Years of experience
|
5-10 |
11-20 |
20+ |
Average annual salary
|
$150,000
|
$225,000
|
$325,000 |
Of course, salary is dependent on several factors, including location, experience, how many people you’re managing, and role within your organization, but even with these factors in place, CFP® professionals hold a much higher earning potential than non-certified financial professionals.
5. Career Development
Once you’ve become a CFP® professional, you open a world of new career opportunities. You can join a firm, fly solo in entrepreneurship, leverage your specialization in a specific industry—the options are endless.
Common CFP® jobs in financial services include:[1]
- Associate Advisor: Join a team of advisors to provide clients with financial plans, reporting, and overall guidance
- Personal Financial Planner: Work with clients to customize financial plans based on their specific goals
- Wealth Management Advisor: Help create investment portfolios based on close relationships with high-net-worth clients
- Client Services Advisor: Serve clients’ financial needs by preparing financial plans for review, participating in financial decision-making, and following up on implementation
If you’re more interested in investment advising, the benefits of a CERTIFIED FINANCIAL PLANNER™ certification extend to career opportunities in this field, including:3
- Financial Analyst: research, analyze, and manage investments, recommending the best options to advisors
- Investment Manager: Choose and manage investments on behalf of firms and clients
- Portfolio Manager: Follow investment policies and best practices to research, analyze, and manage client assets
These are just examples of where you can take your career with a financial planning certification. With your proven knowledge, skills, and reputation, the sky’s the limit.
Enjoy the Benefits of a CERTIFIED FINANCIAL PLANNER™ Certification
The sooner you become a CFP® professional, the sooner you can access these benefits of a CERTIFIED FINANCIAL PLANNER™ certification.
Enroll in the Boston Institute of Finance’s CFP Board-approved CFP® Education to meet your education requirement and join the 32,000+ students who graduated the program and met their career goals.
Connect with a student advisor to learn more about how to get started!
[1] https://www.cfp.net/why-cfp-certification/career-guide/what-is-financial-planning/career-opportunities
[2] https://www.cfp.net/why-cfp-certification/why-get-certified
[3] https://www.cfp.net/why-cfp-certification/career-guide/what-is-financial-planning/career-opportunities
