Total number of CFPs hits new high

The CFP Board also reports all-time highs in the number of new women and racially diverse CFPs.

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.

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