2023
SURVEYOF CFP PROFESSIONALS®

Feedback from CFP® professionals is essential to
CFP Board’s evaluation of our work to uphold theCFP® certification as the standard for financial
planning. To support these efforts, CFP Board
surveys CFP® professionals regularly to gain abetter understanding of their:
Satisfaction with their career
Satisfaction with CFP® certification
Satisfaction with CFP Board
Alignment with CFP Board activities and initiatives

CFP Board engaged Heart+Mind Strategies to conduct
the 2023 certificant survey. The anonymous online
survey, conducted September 13 – October 13, 2023,
generated responses from 1,793 CFP® professionals.
The data collected serves as the basis for this report.
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2023 Survey of CFP® Professionals
CFP® professionals are satisfied with their financial
planning career and the CFP® certification:

87%

89%

86%

satisfied with theircareer choicesatisfied with theirdecision to pursue
CFP® certification

recommend CFP®
certification
to a colleague

are

2 in 3

arewouldCFP® professionals
contribute to theircommunities including:• Giving advice on how to contribute timeor money to charitable organizations• Serving on the board or as an advisor
to charitable organizations

CFP® professionals say
CFP Board’s most important initiatives are:upholding competency
and high ethicalstandards

raising awareness andbrand profile of theCFP® certification
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Key Findings
A large majority of CFP® professionals are satisfied with
their financial planning career choice.
Specifically, 87 percent of survey respondents rate their satisfaction with either a 1 or 2 on a six-point scale.
This includes nearly seven in ten CFP® professionals who indicate being “very satisfied” with their financial
planning career decision. Another four percent of CFP® professionals gave a 3 rating (indicating being
somewhat satisfied). Seven percent were dissatisfied with their career choice, giving either a 5 or 6 rating.
These percentages compare favorably to surveys from recent years. In 2021 and 2022, 93 percent of CFP®
professionals rated their satisfaction with their career choice to be a financial planner with either a 1 or 2,
while 92 percent of respondents to the 2019 survey did the same.

7 in 8 CFP® Professionals Are Satisfied with
Their Financial Planning Career Decision(Percentage Distribution)

4% 3%
2%4%

Very Satisfied
654

18%

369%21
Very Dissatisfied4

A slightly larger percentage of survey respondents aresatisfied with their decision to earn the CFP® certification.
89 percent of survey respondents rate their level of satisfaction as either a 1 or 2 on a six-point scale.
Nearly three-quarters of CFP® professionals indicate being “very satisfied” with this decision. Another five
percent of survey respondents are somewhat content — giving a 3 rating — with their decision to obtain thecertification. Only four percent of survey respondents are dissatisfied with their decision to earn the CFP®
certification (giving either a 1 or 2 rating).
By comparison, 93 percent of survey respondents in 2021 and 2022 were satisfied with their decision to earn
the CFP® certification, with 92 percent of survey participants indicating the same in 2019.

9 in 10 CFP® Professionals Are Satisfied with Their Decision
to Earn the CFP® Certification(Percentage Distribution)

2%
2% 2%

Very Satisfied
65%

517%

473%

321
Very Dissatisfied

Note: detail does not add to 100% due to rounding5

CFP® professionals agree that the certification has
positively impacted their professional lives.
In fact, six in seven certificants would recommend other financial professionals earn the CFP® certification(rating their level of agreement with the statement with either a 1 or 2 on a six-point scale). Further, at least
seven in ten CFP® professionals agree:• They have a competitive edge over financial planners who do not hold the credential (79%)• Becoming a CFP® professional has directly contributed to their success as a personal financial planner (76%)• The value of the CFP® certification justifies the cost of renewing the cost of the credential (70%)

CFP® Professionals Agree that the Certification Has
Had a Positive Impact on Their Professional Lives and the Field(Percentage of Respondents Rating Their Level Agreement withEither a “1” or “2” on a Six-Point Scale)

Becoming a CFP® professional has had a positive
impact on salary and/or other compensation

65%

Value of the CFP® certification justifies thecosts of renewing the credential

70%

Becoming a CFP® professional has directlycontributed to success as a personal financial planner76%

Agree that CFP® professionals have a “competitive edge”
over financial planners who do not hold the credential

79%

Would recommend the CFP® certification
to other financial professionals

86%
0620

4060

80

100

Virtually every CFP® professional agrees that it is essentialthat CFP Board uphold both the competency standards
and high ethical standards of the certification.
Specifically, 95 percent of survey respondents rated the importance of CFP Board’s activities to upholdhigh competency standards associated with CFP® certification with either a 1 or 2 on a six-point scale.
The same percentage similarly rated the importance of CFP Board’s efforts to uphold high ethicalstandards associated with CFP® certification.
Most CFP® professionals also view building acceptance and brand recognition of the CFP® certification as
among the organization’s key priorities. Specifically, nine in ten CFP® professionals say it is vital for CFP
Board to take steps that increase understanding, acceptance, and use of the CFP® certification. Likewise,
89 percent of survey respondents agree on the importance of building the CFP® certification brand andpromoting it to the public. Several other CFP Board activities and initiatives viewed as important by atleast three-quarters of survey respondents.

CFP® Professionals Say Upholding Competency andHigh Ethical Standards Are CFP Board’s Most Important
Activities and Initiatives(Percentage of Respondents Rating Importance with Either a “1” or “2” on a Six-Point Scale)
Upholds CFP® certification’s competency standards

95%

Upholds CFP® certification’s high ethical standards

95%

Increases understanding of the CFP® certification

90%

Builds the CFP® certification brand89%

Expands access to competent and ethicalfinancial planning

86%

Creates opportunities for CFP® professionals toenhance their knowledge, skills, and abilities

84%

Focuses on attracting and supporting
the next generation

79%

Creates career awareness about thefinancial planning profession

79%

Convenes thought leaders and researchers

78%

Facilitates academic research to elevate thediscipline of financial planning

77%

Provides opportunities to train faculty

69%

Advances diversity in the financial
planning profession’s workforce

54%
0720406080100Beyond ensuring their clients have a secure future,
CFP® professionals offer their expertise to impact theircommunities positively.
Over the past year, two in three CFP® professionals (65 percent) engaged in volunteer activities. The
most common activity is offering advice on the ways their clients can donate money or time to charitableorganizations, as cited by 36 percent of survey respondents. Other common ways that CFP® professionals
give back to their communities include:• Serving on a board or as an advisor for a charitable organization (32%)• Establishing or helping organize a fundraiser for people or groups in need (20%)• Participating in workshops to help people deal with financial difficulties (13%)

2 in 3 CFP® Professionals Contribute
Back to Their Communities(Percentage of Respondents Indicating Engagement in Volunteer
Activity During the Past Year)
Offered advice on different ways people can donate
money or time to charitable organizations

36%

Served on a board or as an advisor for acharitable organization

32%

Established or helped organize a fundraiser forpeople or groups in need20%

Participated in workshops to help people
deal with financial difficulties

13%

Participated in a program to deliver meals or otheressentials to front-line medical workers/first-responders

8%
24%

Other

35%

Did not volunteer any time during the past year
081020304050

Another vital way that CFP® professionals serve theircommunity is by providing free financial advice tounderserved people in need.
Pro bono financial planning helps people take control of their financial lives. Nearly two in five CFP®
professionals offered pro bono services in 2022, while 55 percent of survey respondents indicate a level ofagreement on a six-point scale that it is important to provide pro bono services to people in need. The pro
bono offering CFP® professionals gave a median of 10 hours of services to the community over the past year.
Survey respondents identify actions that would increase the likelihood of them offering pro bono services(and grow the number of hours of services offered). They include:• Offering the ability to pick pro bono opportunities that varied in time & population served(58% of survey respondents)• Making it easier to access volunteer opportunities either virtually or in the community (53%)• Their employer actively supporting pro bono work (e.g., letting the financial planner offer pro bono
opportunities during work hours) (50%)

CFP® Professionals Say More Flexibility, Improved
Access and Employer Support Would Increase theProvision of Pro Bono Services

Percentage of Respondents Rating the Likelihoodof Item Driving More Pro Bono Services with Either a “1” or “2” on a Six-Point Scale)

Access to training and resources that
support helping underserved people

46%

Active employer supportfor pro bono work50%

Easier access to volunteer opportunities,
either virtual or in your community

53%

Being able to pick from pro bono
opportunities that varied in timerequired and population served

58%01092030405060

In April 2011, CFP Board launched a national Public
Awareness Campaign integrating paid advertising andmedia outreach to increase public awareness of CFP®
professionals.
CFP Board periodically refreshes the campaign with a new approach and new advertising. In March 2023,
CFP Board launched its latest campaign featuring ads that show a man nervously preparing to bungee jumpwith the assistance of an unreliable-looking guide, then showing the man in a financial planner’s office, asking
if she is a CFP ® professional. The 2023 ad featured the tagline, “It’s Gotta Be A CFP®.”Over four in five CFP® professionals aware of the campaign indicate satisfaction with its overall effectiveness.
This includes 48 percent of survey respondents giving the campaign a “1” or “2” on the six-point scale.
Conversely, seven percent of survey respondents express dissatisfaction with the marketing campaign, rating
it either a 1 or 2.

83% of CFP® Professionals Are Satisfied With the Public
Awareness Campaign, Including 48% That Have a HighLevel of Satisfaction(Percentage Distribution)

4% 3%
10%

Very Satisfied
617%

5436%

31%

321
Very Dissatisfied

Note: detail does not add to 100% due to rounding

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Most CFP® professionals who have engaged with CFP
Board in some fashion over the past year say the Board has
met their service expectations.
Four in five CFP® professionals overall agree that the level of service received from CFP Board met theirexpectations. This includes 51 percent of survey respondents who indicate a high level of agreement, giving a
1 or 2 on a six-point scale. Conversely, 11 percent of survey respondents disagree — rating a 5 or 6 — that CFP
Board service had met their expectations.

80% of CFP® Professionals Say the Level of Service Received
From CFP Board Met Their Expectations, Including 51% That
Express a High Level of Agreement(Percentage Distribution)

5%
6%
9%
22%

Very Satisfied
65429%

329%

21
Very Dissatisfied

11Conclusions
CFP® professionals indicate satisfaction with their decision
to both serve as a financial planner for a career and toobtain the CFP® certification.
There is widespread agreement among certificants that CFP® certification provides them with a competitiveedge over other financial planners and has directly contributed to their success as a financial planner. As aresult, six in seven CFP® professionals would recommend the certification to other financial professionals.

Methodology
Between September 13 and October 13, 2023, researchfirm Heart+Mind Strategies conducted an anonymous
online survey of CFP® professionals that measured their:
Satisfaction with their career
Satisfaction with CFP® certificationSatisfaction with CFP Board
Alignment with CFP Board activities and initiatives

The survey generated responses from 1,793 CFP® professionals. The data collected from the survey, which
serves as the basis of this report, is subject to a sampling error of +/- 2.3 percent at a 95 percent level ofconfidence. The response generated by the survey reflects an adequate representation of CFP® professionals
by business model, ethnicity and gender.
The 2023 survey is part of a regular survey series of CFP® professionals. The 2022 survey also was conducted
online by Heart+Mind Strategies. Fondulas Strategic Research collected the data prior to 2022 using
telephone surveys. The newer online survey methodology allows CFP® professionals to respond at theirconvenience and on their chosen device (mobile, tablet, laptop or desktop), leading to improved response
rates. As a result of the methodology change, 2022 & 2023 data are not directly comparable to datacollected in 2021 and before.

12About CFP Board
CFP Board is the professional body for personal
financial planners in the U.S. CFP Board consistsof two affiliated organizations focused on
advancing the financial planning profession forthe public’s benefit.
CFP Board of Standards sets and upholds standards for financial planning andadministers the prestigious CERTIFIED FINANCIAL PLANNER™ certification —widely recognized by the public, advisors and firms as the standard for financial
planners — so that the public has access to the benefits of competent and ethicalfinancial planning. CFP® certification is held by nearly 100,000 people in the U.S. CFP
Board Center for Financial Planning addresses diversity and workforce development
challenges and conducts and publishes research that adds to the financial planning
profession’s body of knowledge.

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