CFP Board Approaches 100,000 Certified Professionals

The CFP Board reported a record number of new Certified Financial Planner certificate recipients in 2023, according to its annual count issued Thursday.

As of December 31, 2023, the number of CFP professionals reached an all-time high of 98,875, an increase of 3.9% from 2022 numbers.

When it came to the calendar year, the class of 2023 welcomed 6,089 new CFP professionals. Of these new certificate receivers, 56% were younger than 35, and 1,692 were women, who made up 27.8% of the class. The CFP reported 853 racially and ethnically diverse professionals, 14.0% of the new class.

While the percentages of female and diverse professionals remain low, the 2023 class still had the most women and most racially and ethnically diverse CFP professionals in a single year. The professional certification body saw the addition of 173 more women CFP professionals than the year before, representing an 11.5% increase. There were also 90 more racially and ethnically diverse candidates who became CFP professionals this year, a 12.6% increase.

The number of CFP professionals increased across various racial and ethnic groups, including:

• The number of Hispanic CFP professionals grew by 11.3% to 3,016 people, 3.1% of all professionals;
• The number of Black CFP professionals grew by 7.5% to 1,899 people, 1.9% of all professionals;
• The number of Asian or Pacific Islander CFP professionals increased by 5.5% to 4,096 people, 4.1% of all professionals;
• American Indian or Alaskan Native CFP professionals increased their numbers by 6.6% to 241 people, 0.2% of all professionals; and
• Multi-ethnic CFP professionals grew by 20% to 156 people, 0.2% of all professionals.

“As we enter the 51st year of CFP certification, the value of the CFP mark is only growing,” Kevin Keller, the CFP Board’s CEO, said in a statement. “CFP Board is dedicated to building a sustainable, diverse financial planning profession that reflects the communities we serve—it’s one of our strategic priorities. We aim to attract talent and insights from all backgrounds to meet the growing demand for competent and ethical financial planners.”

The CFP Board was one of PLANADVISER’s Vision Award winners in 2023 in part for its decision to restructure the organization to have one division focused on certification and training and another working toward “competent and ethical financial planning and expand[ing] CFP professional diversity for the benefit of the public.”