Public-radio listeners will be encouraged to turn to a certified financial planner for investment guidance when advertisements touting CFPs hit NPR this fall.
The Certified Financial Planner Board of Standards Inc. said last Friday at the group's conference in Washington that the radio spots, which will run Monday through Friday from Oct. 1 through Nov. 16, are the next step in a $40 million, four-year effort to raise awareness about the CFP credential.
CFP Board officials said that the campaign, which was launched in April 2011 and included national cable television ads for the first 13 weeks of this year, is accomplishing its goal of increasing the designation's brand identification.
A study released by the CFP Board on Aug. 13 shows that between April 2011 and this April, the number of people in a target audience who mentioned CFP as a financial credential that they recognize rose by 7 points.
The number of people who said that working with a CFP is “appropriate and beneficial for someone like me” rose 4 points in the total sample and by 7 points among those with $500,000 or more in investible assets.
The survey, conducted April 2-15, consisted of 604 online interviews with people who have more than $100,000 in investible assets and an annual household income of $125,000 or more.
“We're very pleased with the initial results,” CFP Board chief executive Kevin Keller said in an interview. “The reaction of CFP professionals as well has been very favorable.”
The CFP Board grants the CFP credential and upholds the educational and ethical standards attached to it. There are about 67,000 CFP mark holders in the United States.
The annual CFP fee was increased by $145 last year in order to fund the awareness campaign.
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