The number of certified financial planners (CFP) worldwide increased 5.1% over the previous year, with the global CFP community reaching an all-time high of 223,77, the Financial Planning Standards Board (FPSB) revealed today (15 February) in a report.
FPSB and its global network of organizations increased the number of global CFP professionals by 10,768 to the 223,770 total as of 31 December 2023.
The two territories with double-digit growth rates in the number of CFP professionals last year were Thailand (27.8%) and People’s Republic of China (15.1%).
It said the growth in the number of CFP professionals complemented findings from the FPSB Value of Financial Planning Global Consumer Research 2023 that showed those who work with CFP practitioners report a better quality of life, enjoy more financial confidence and resilience, and are more satisfied with their financial situation, with 98% of clients reporting they trust their CFP professional to act in their best interests.
FPSB CEO Dante De Gori, CFP said: “We’re pleased to see the number of certified financial planner professionals continues to increase year-over-year to meet the rising demand for professional financial planning advice.
“As the global community of CFP professionals grows, more people around the world can access financial planners who have committed to high standards of competency, ethics and practice to build holistic financial plans as they face increased costs of living and complex financial decisions.”
The end of 2023 data revealed the top four growth markets for CFP professionals were:
1. People’s Republic of China, with an increase by FPSB China of 4,565 CFP professionals for a year-end count of 34,747, representing the second-largest CFP professional community in the world.
2. United States, with an increase by CFP Board of 3,738 CFP professionals for a yearend count of 98,875, representing the largest CFP professional community in the world.
3. Japan, with an increase by Japan Association for Financial Planners of 994 CFP professionals for a year-end count of 26,092, representing the third-largest CFP professional community in the world.
4. Brazil, with an increase by Planejar – Associação Brasileira de Planejamento Financeiro of 749 CFP professionals for a year-end count of 9,379, representing the fifth-largest CFP professional community in the world.
FPSB Italia joined the FPSB global network of professional financial planning bodies to bring the CFP certification program to Italy in 2023, supporting the global growth of the CFP professional community last year as well.
De Gori added: “For nearly three decades, the global CFP professional community has steadily grown, reaching its highest ever at over 223,700. This growth is a true testament to the value CFP certification holds in the global financial planning profession and to the clients financial planners serve.
“We are grateful for the FPSB Network and the hundreds of thousands of CFP professionals who are dedicated to raising the standard of professionalism in financial planning with CFP certification its symbol of excellence.”
