Number of CFPs hits new global high

Number of CFPs hits new global high
The latest numbers point to four booming markets for financial planning professionals, including two double-digit growth hotspots.
FEB 20, 2024

Against a backdrop of continuing demand for financial planning advice around the world, the global community of certified financial planning professionals set a new record last year, according to the FPSB.

According to the Financial Planning Standards Board Ltd., the CFP professional community ended 2023 on a high note as the number of people with the credential reached a global milestone of 223,770.

That growth, which came with the addition of 10,768 new CFPs, represented a 5.1% annual advance over the previous year.

“We’re pleased to see the number of certified financial planner professionals continues to increase year-over-year to meet the rising demand for professional financial planning advice,” FPSB CEO Dante De Gori said in a statement.

The latest expansion in the ranks of CFP professionals was led by significant growth in four key markets.

China saw the largest increase, as it added 4,565 CFP professionals to bring its total to 34,747, making it the second-largest CFP professional community globally.

The US cemented its status on the leaderboard, registering an increase of 3,738 to reach a total of 98,875 CFP professionals.

Japan and Brazil also saw considerable growth, with Japan adding 994 professionals for a total of 26,092, and Brazil increasing by 749 to reach 9,379. With those numbers, the two countries officially became home to the third and fifth largest CFP communities, respectively.

China also registered 15.1% annual growth last year, lagging only Thailand in terms of percentage growth (27.8%). Aside from being the fastest-growing markets, the two were the only countries to experience double-digit growth rates in 2023, according to FPSB.

In its 2023 research on the value of financial planning, FPSB found clients who received financial planning advice experienced better financial well-being and peace of mind (38%). They also reported being more financially confident (37%), had a better grasp of financial matters (36%), and said they experienced greater wealth growth.

Most significantly, that research revealed an overwhelming degree of consumer trust in financial planners, with 95% of clients – including 98% of those working with a CFP professional – saying they trust their planner to act in their best interest.

“As the global community of CFP professionals grows, more people around the world can access financial planners who have committed to high standards of competency, ethics and practice to build holistic financial plans,” De Gori said.

Tips for advisors seeking to improve their recruiting and retention

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.