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But a lawsuit to block the rule ultimately led to it (and the associated Title Protection for "financialplanner") being vacated… by the FPA. Raising the question of whether the FPA is also considering an about-face on its CFP-centricity, too.
Together, these proposed changes (which are currently open for public comment) suggest CFP Board is seeking to ensure that those with the marks not only have sufficient education and experience upon receiving them, but also maintain and sharpen their skills over the course of their careers.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news that CFP Board CEO Kevin Keller this week announced his plans to retire and step down from his position at the end of April next year.
Also in industry news this week: While the FPA is going full steam ahead on its federal and state lobbying efforts to regulate the title “financialplanner”, CFP Board is more focused on increasing recognition of the CFP marks. How individuals can best harness their willpower to achieve their biggest goals.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that CFP Board announced that it has crossed the milestone of 100,000 CFP professionals in the United States, and despite having just celebrated its 50th anniversary last year, just set a record high in the number of advisors sitting (..)
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that the SEC this week issued a risk alert outlining how it selects firms to examine, the areas it focuses on during exams, and how it chooses which firm documents to request, details that could ultimately help firms (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a CFP Board ad campaign promoting a career in financial planning to high school and college students sparked an uproar in the planning community, as some advisors questioned whether the messages being sent in the ads – (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that the SEC this week fined 4 RIAs for violations of its marketing rule related to their claims that they offered 'conflict-free' financial advice.
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that CFP Board announced this week that it is splitting into two separate organizations with the same leadership but different nonprofit statuses.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a recent survey found that clients across several countries who work with a CFP professional have better outcomes on a range of measures compared to those working with other advisors or no advisor at all, suggesting that the (..)
Nonetheless, given Kitces Research findings that being 'too' comprehensive can eat into a firm's bottom line, advisors might seek a 'sweet spot' of providing a comprehensive slate of services (but not necessarily every possible service) that are most valuable for their ideal target client.
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that the FPA is planning to leave the Financial Planning Coalition (which also includes the CFP Board and NAPFA) at the end of the year.
In the context of financial advisors, surveys have shown that CFP certification serves as an important branding signal for consumers seeking the services of a qualified advisor. Similarly, CFP practitioners were found to have a lower practice-wide Client Acquisition Cost (CAC) and greater revenue growth in 2021!
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that according to CFP Board leaders, “everything is on the table” when it comes to the organization’s announced competency standards review.
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that AdvisorTech giant Envestnet has announced a partnership with New Zealand-based FNZ that will allow Envestnet to offer custodial services to advisors beginning in the second half of 2023.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a recent CFP Board survey indicates that consumers do not expect AI tools to replace human financial advisors, but rather supplement advisors' work.
Advisor Metrics, Cerulli Associates predicts that 37.5% (or nearly 110,000) of financial advisors will retire over the next 10 years. Beyond that, however, obligating financialplanners to hire and train new advisors could create some unintended (and detrimental) consequences. Read More.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news that a study from Cerulli Associates indicates a lack of fee transparency represents a significant hurdle for many investors when considering working with a financial advisor.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a recent study has found that consumers are increasingly likely to spread their portfolios across a range of asset managers, and that this trend is particularly pronounced amongst more affluent clients (e.g.,
Enjoy the current installment of "Weekend Reading For FinancialPlanners" – this week's edition kicks off with the news that a recent survey sponsored by CFP Board demonstrates the upsides of a career in financial planning, from a median salary of nearly $200,000 to flexible work schedules and a strong sense of purpose among advisors.
Which suggests that instead of trying to go head-to-head with these larger firms (and their heftier marketing budgets) in attracting clients, smaller firms might instead demonstrate how they are 'different' by offering a unique service offering tailored to their ideal target clients.
The company said the bulk of the funds will go toward research and platform development as it attempts the challenging task of getting more mid-sized RIAs to move over to Altruist from their current custodian.
And amid this backdrop, several AdvisorTech tools have added AI capabilities that could further streamline advisory firms’ middle- and back-office tasks and processes.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that a Morningstar survey has found that financial advisory clients are more likely to stick with their advisor for emotional reasons rather than investment returns alone.
Enjoy the current installment of "Weekend Reading For FinancialPlanners" — this week’s edition kicks off with the news that following previous guidance regarding obligations under Regulation Best Interest (Reg BI) regarding account recommendations and conflicts of interest, the SEC released a new bulletin this week focusing on the duty (..)
Enjoy the current installment of "Weekend Reading For FinancialPlanners" - this week's edition kicks off with the news that SIFMA, which represents broker-dealers, investment banks, and asset managers, released a white paper that argues that CFP Board "increasingly functions as a de facto private regulator for CFP certificants" and proposes that CFP (..)
Enjoy the current installment of “Weekend Reading For FinancialPlanners” - this week’s edition kicks off with the news that the FPA is planning to leave the Financial Planning Coalition (which also includes the CFP Board and NAPFA) at the end of the year.
podcasts.apple.com) Michael Kitces and Carl Richards on the opportunity when clients bring you something 'off the Internet.' kitces.com) Ownership Nearly half of all financialplanners surveyed by the CFP Board have an ownership stake in the company where they work.
2022 marks the 50 th anniversary of the enrollment of students into the first Certified FinancialPlanner (CFP) course, and in the years since then, financial planning (and the process of creating a financial plan) has changed extensively.
Amy is the owner of Rooted Planning Group, an independent RIA based in Corning, New York that oversees $67 million in assets under management for 175 client households.
Brett is the Founder of Brett Danko Educational Center, a CFP Board Education and Exam Prep provider, and the CEO and Managing Partner for Main Street Financial Solutions, an independent RIA based in Newtown, Pennsylvania, that oversees almost $2 billion in assets under management for nearly 1,700 client households.
“Do I need to use the ® mark with my CFP designation”? This question spurred me to do some research on whether one must always write “CFP ®.” In fact, I rarely included an interviewee’s CFP designation because space was tight. Here’s the CFP Board’s response to my tweet on the topic.
In the professional domain of finance, the role of a financialplanner has become increasingly pivotal. As individuals and businesses alike strive for financial stability and growth, the demand for skilled financialplanners has surged.
In an era of uncertainty, the value Americans place on professional advice from a financialplanner has increased. adults said their most trusted source of financial advice was a financial advisor. FinancialPlanner Job Growth in the Next Decade. Around 26 percent of U.S. population.
The financial planning industry has witnessed remarkable growth, making the Certified FinancialPlanner (CFP) certification increasingly valuable for professionals seeking to advance their careers. Why Choose CFP Certification?
Leveraging a referral network is a powerful way for financial professionals to generate leads, gain new clients, and build a positive professional reputation. Along with your current client base, there are numerous professionals who come into contact with people who fit your ideal client profile.
A sense of ambiguity about the future and financial stress is taking a toll on our clients’ mental, physical, and relational well-being. And because you care about your clients, you are probably feeling the strain as you work to help them cope. And how can financialplanners help?
When asked about how they started in the industry, many of the Asian-American financialplanners I admire say the same thing: At first, they didn’t even know the profession existed. ” Only 4 percent of Certified FinancialPlanner™ professionals identify as Asian American or Pacific Islander (AAPI), though they make up 6.2
Billion-dollar disasters, inflation, and increased building costs mean a perfect storm is brewing for financialplanners’ risk management strategies. If the next natural disaster comes for your clients, will they be ready? Insurance in Financial Planning. Financial and Physical Well-Being. are underinsured.
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