Almost seven in ten of the 2,926 candidates who took the CFP Certification Exam in July passed.
The CFP Board stats show that the 67% pass rate was the highest since July 2015 (70%), although the exam blueprint has been updated twice since, in March 2016 and March 2022.
Ten states accounted for more than half (1,562) of those taking the exam last month - California, Texas, Pennsylvania, Florida, Illinois, New York, North Carolina, Colorado, Ohio and Massachusetts – although the individual states’ pass rates is not reported.
Asked after the exam why they wanted to gain CFP Certification, 41% said to demonstrate experience on the job (41%), and 25% said to distinguish themselves as a fiduciary.
Firms showed strong support for their candidates with 77% of exam takers saying they had received some financial support from their employer during the examination process.
"As CFP Board continues to foster growth in the financial planning profession, we are committed to providing access to the tools CFP® certification candidates need to prepare for the exam," said CFP Board CEO Kevin R. Keller, CAE. "Congratulations to candidates from across the country for passing this rigorous exam."
Exam takers from last month’s round were asked how they prepared for the examination.
The top answers included:
Other resources used included CFP Board supplementary resources and guidance documents, the CFP Board Candidate Forum and webinars.
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"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.
Chair also praised the passage of stablecoin legislation this week.
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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.
