CFP exam participation hits all-time high in 2024

CFP exam participation hits all-time high in 2024
CFP Board reveals results from November testing wave, with a record number of more than 10,000 candidates looking to earn the mark this year.
DEC 10, 2024

The CFP Board has published the official results and statistics for the November CFP certification exam, with a record turnout supporting the case for growing advisor interest in the financial planning profession.

The latest figures cap off a record-breaking year with over 10,000 individuals sitting for the exam in 2024.

The CFP Board reported 3,755 candidates for the November 6 to 13 exam, which it said was the second-largest number of people to ever take the November exam. The test is administered three times annually in March, July, and November.

Six percent of the CFP aspirants in November took the exam remotely.

Kevin Keller, CEO of the CFP Board, hailed the historic turnout in CFP exam participation as proof of "the growing demand for CFP certification as the standard in financial planning."

"This milestone reflects wide recognition of the value of competent, ethical financial advice," Keller said in a statement Tuesday morning.

Among the more than 3,000 candidates in November, there were 2,336 who made the grade, representing a pass rate of 62 percent. In a more granular breakdown of the results, the CFP Board counted 2,901 test-takers last month, with 1,908 getting a passing grade for a qualifying rate of 66 percent.

In a post-exam survey, the CFP Board found 38 percent of candidates last month pursued certification as a way to show expertise in their jobs, while 34 percent cited the desire to distinguish themselves as fiduciaries. Another third of exam-takers reported receiving at least some financial support from their employers during the certification process.

A September snapshot research report from the CFP Board found CFP holders also out-earn other financial planners by 10 percent, while also expressing significantly high levels of job satisfaction.

Through a demographic lens, 69 percent of November’s candidates were under age 40, including 39 percent who were younger than 30.

Individuals seeking CFP certification also came from all over the map. In terms of the number of exam-takers, the top 10 states accounting for 1,957 candidates were:

  • California; 
  • Texas; 
  • Florida; 
  • New York; 
  • Pennsylvania; 
  • Illinois; 
  • North Carolina; 
  • New Jersey; 
  • Ohio; and 
  • Colorado

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.