The number of certified financial planner professionals hit a new high last year of 95,137, as the ranks of CFPs became more diverse, the CFP Board of Standards Inc. said Thursday.
The total of 95,137 CFPs as of Dec. 31 was up 3.4% from the number at the end of 2021.
Nearly 30% of the new CFPs were women, which was an all-time high. The total number of women CFPs rose to 22,446, up 4.4% from 2021, to make up 23.6% of all CFP professionals.
The board also touted an increase in diversity, with racially and ethnically diverse individuals making up nearly 15% of last year's new CFPs.
It noted that the number of Black CFPs grew 8.8%; the total of 1,765 Black CFPs as of Dec. 31 constituted 1.9% of all CFP professionals.
The number of Asian or Pacific Islander CFPs grew 6.7%, to 3,883, and they now make up 4.1% of all CFP professionals. Hispanic CFPs grew by 10.3%, to 2,710, and now constitute 2.9% of all CFPs.
“Increasing the number and diversity of CFP® professionals is one of CFP Board’s strategic priorities, and we are especially excited to see the record-breaking numbers of women and racially and ethnically diverse professionals who earned their CFP® certification in 2022.” Kevin Keller, CEO of the CFP Board, said in a statement.
The CFP Board also noted that new certificants are trending younger, with more than 55% of the 5,214 new CFPs last year under the age of 35.
Trevor Uhls was charged with wire fraud and money laundering in a criminal complaint filed in U.S. District Court for the Western District of Missouri.
The multigenerational Cedar Rapids firm is joining through a key OSJ as recruiting competition heats up across the wealth space.
New Treasury guidance sets fee caps, defines index-tracking rules, and bars ESG-linked funds from the tax-deferred accounts for minors
Yari Capital's move to Carson continues a run of additions for the $62 billion firm, days after it hired a veteran recruiter from Osaic.
Servo Wealth Management's $210 million book brings the Minneapolis consolidator's total client assets further past $160 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
