WASHINGTON, Nov. 7, 2013 /PRNewswire-USNewswire/ -- Certified Financial Planner™ professionals continue to be very satisfied with their career choice as well as their decision to obtain the CFP® certification, as well as strong agreement with CFP Board's priorities and initiatives, according to a new survey by Certified Financial Planner Board of Standards, Inc.
Conducted by Fondulas Strategic Research, the survey results provide an in-depth picture of CFP® professionals' perceptions of the value of their CFP® certification, its impact on their careers, and their views of CFP Board and the financial planning profession. A version of the survey was last conducted in 2011.
Key findings of the survey include:
- 91 percent are very satisfied with their career choice in financial planning – a six point increase from the 2011 survey
- 92 percent say they very satisfied with their decision to pursue CFP® certification
- 76 percent of respondents strongly agree that the CFP® certification contributes directly to their own professional success
- 64 percent say that becoming a CFP® professional had a positive impact on their income
- 87 percent say that they work directly with clients as their primary professional role – a four percent increase from the 2011 survey
- 91 percent say they would recommend the CFP® certification to other financial professionals
The survey also found that CFP® professionals strongly believe in the importance of CFP Board's priorities and initiatives.
- 86 percent of respondents say that CFP Board should pursue a Public Awareness Campaign featuring advertising, such as CFP Board's "Let's Make A Plan" campaign
- 97 percent of respondents agree with the statement that "financial planning should be a recognized profession"
- 84 percent agree that a "fiduciary standard of care is appropriate for all financial service" professionals
- 81 percent say that CFP Board's Standards of Professional Conduct provides them with "necessary guidance for delivering financial planning services to my clients with the highest ethical conduct" – a five point increase from the 2011 survey
Nearly two-thirds (63 percent) of respondents report that the service they receive from CFP Board meets their expectations – a dramatic increase from 2011, when that number was 48 percent.
"The CFP® certification is of great value to people's careers, their employers and most importantly, their clients," said Chief Executive Officer Kevin R. Keller, CAE. "The support of our nearly 69,000 CFP® professionals is important to CFP Board's work, especially as we continue to strengthen our standards and ensure that the public seeks financial advice from competent and ethical financial planning professionals."
The telephone survey of 803 CFP® professionals was conducted in late May and early June using a random sample of CFP® professionals. The sampling error is +/- 3.5 percent and has a 95 percent confidence level.
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, Certified Financial Planner™, and the federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes nearly 69,000 individuals to use these marks in the U.S.
SOURCE Certified Financial Planner Board of Standards, Inc.