CFP Board and CFA Institute, which grant two of the most sought-after credentials in the wealth management space, have separately revealed the results of their most recent examinations.
On Tuesday, CFP Board announced results from its March 2025 certification exam, with a record 3,854 CFP hopefuls sitting for the test – an increase over the 3,683 who participated in the March 2024 session.
The overall pass rate for this latest cohort was 65 percent, according to CFP Board, which back-of-the-napkin math suggests would equate to roughly 2,600 passers.
Last year, CFP Board logged a record year for CFP certification, with 6,541 newly minted CFP professionals added across the US.
The data continue to reflect strong interest in financial planning credentials among younger professionals. According to the board, 72 percent of exam-takers were under age 40, with 41 percent under 30. Both figures are slightly higher than those from the previous November 2024 exam.
“The growing demand for CFP certification reflects a powerful trend, as more financial professionals commit to serving their clients’ best interests,” Kevin Keller, who's retiring from his role as chief executive of CFP Board next year, said in a statement Wednesday.
Post-exam survey data showed that 40 percent of the latest class of CFP test-takers were motivated to pursue certification to demonstrate job expertise. Another 33 percent said their goal was to distinguish themselves as fiduciaries.
Nearly one-fourth of candidates reported receiving some financial support from their employers during the process.
Candidates came from across the US, with California, Texas, and Florida among the top 10 states for participation. Together, the 10 most-represented states accounted for 2,056 candidates – more than half of the total test-takers.
Meanwhile, CFA Institute released the results of its February 2025 Level III exam, which introduced a new structural option for candidates: Specialized Pathways. A total of 11,131 candidates sat for the test, with a pass rate of 49 percent – slightly below the 10-year average of 51 percent.
The Specialized Pathways allow candidates to pursue one of three focuses at Level III: portfolio management, private wealth, or private markets, the latter of which is developing into an increasingly interesting space for retail investors. The new structure is designed to align the CFA Program with evolving industry roles while maintaining its rigor and credential standards.
“The CFA Program stands as a time-tested, rigorous set of exams and remains the gold standard for candidates who aspire to professional excellence,” Margaret Franklin, president and chief executive of CFA Institute, said on Wednesday.
Chris Wiese, managing director of education at the institute, noted that trends on pass rates remained consistent with recent years.
“First-time testers fared best, with an overall pass rate of 56 percent. Test takers with at least one deferral behind them had a passing rate of 30 percent. We encourage candidates to stay on schedule, if at all possible,” he said.
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.
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.
“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.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
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.
