CFP numbers continue ascent
There are now more than 36,000 Certified Financial Planners operating in the US, with about 1,000 new members joining the elite financial planning club this year.
There are now more than 36,000 Certified Financial Planners operating in the US, with about 1,000 new members joining the elite financial planning club this year.
According to figures from the CFP Board of Standards, there are now 36,221 CFP professionals in its US database, up from 35,312 at the end of January.
Only one in four CFPs in the US are women and two thirds are between the ages of 40 and 60, according to the CFP Board. The overwhelming majority hold at least a degree and nearly a third hold a masters degree.
But while the number of CFPs continues to grow, it has not reduced the severity of the CFP exam in the US. Almost a half (47 per cent) of those who sat for the July CFP exam failed. The historical failure average is 44 per cent.
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
