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:
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