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.
Thirty four percent of advisors surveyed by InvestmentNews say they use direct indexing strategies but 39 percent don’t.
“This is on the B. Riley Securities side of the business, the dealmaking side,” one senior industry executive said.
There are three essential elements you must bring to the table to increase the chances of a successful post-sale career.
Across generations, how are savers doing with their 401(k) contributions?
New report shines some light on today's billionaires' investments.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
Streamline your outreach with Aidentified's AI-driven solutions