CFP pass rates decline
Clearing the final hurdle to become a Certified Financial Planner (CFP) is proving an increasingly difficult task for American financial planners.
The pass rate for the 10 hour exam has fallen from the average of 57 per cent to 51 per cent of candidates who sat the exam.
According to the US based Financial Planning magazine, 1,066 applicants passed at the November sitting, bringing the total number of US planners who have passed the gruelling test to more than 15,000. Australia is making strong ground on the US, with more than 3,000 planners now carrying the CFP mark after their name.
The US examination covers 106 topics that are based on 1987 and 1994 studies of the job knowledge requirements necessary to practice financial planning.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
