The Financial Planning Standards Board (FPSB), based in Denver in the USA, has reported a 4,240 net increase in those holding the CFP
TM certification. This was a 2.7% increase over the previous year-end total of 157,586.
The FPSB network represents 26 non-profit financial planning standard-setting, certification and professional bodies in as many territories. FPSB’s member in Turkey joined as an Associate Member in 2014.
The CISI is the licencing authority for the CFP
TM marks in the UK, through agreement with the FPSB.
Noel Maye, FPSB Chief Executive, said: “The Financial Planning Standards Board is pleased to see that the message about the value of CFP certification, and of working with a CFP professional, is being heard around the world.
"The number of territories where CFP certification is offered has increased 50% in the last 12 years, and the global number of CFP professionals has doubled in the same time period. Much of this growth can be attributed to the value the public places on CFP certification and the benefits firms experience from hiring CFP professionals.”
Of the 25 FPSB member organisations authorised to administer the CFP certification program, 19 (76%) reported a rise in the number of CFP professionals in their territory last year.
The five territories adding the most CFP professionals were:
- The United States (2,388)
- Brazil (563)
- Japan (518)
- Indonesia (222)
- Malaysia (213)
These five territories, representing a spectrum of market types and CFP certification program maturities, account for some 92% of the global CFP professional growth, the FPSB said. The US, the longest-running CFP certification program, accounted for 56% of global growth in 2015.
The Japan Association for financial planners exceeded 20,000 CFP professionals for the first time, while FPSB’s member organisations in Canada and China recorded modest drops in their number at 0.3% and 0.8%, respectively.