2016 Aite Group Research: Building a Wealth Management Practice: Measuring CFP® Professionals' Contribution
Practices orientated toward financial planning translate into more frequent financial plan updates for clients, and more financial plans delivered under a fiduciary standard of care.
A 2016 research study by Aite Group, commissioned by CFP Board, shows that CFP® certification can be a key differentiator for firms and individual financial professionals looking to improve the quality of their advice and provide additional value to clients.
Key findings include:
- CFP® professionals earn 26 percent more in compensation than other financial advisors, adjusted for years of experience
- 70 percent of CFP® professionals surveyed believe the CFP® certification has had a positive impact on client trust, confidence with clients and technical expertise
- Practices with CFP® professionals generate 40 percent more revenue and are generally more productive than other firms
- Practices with CFP® professionals attract 53 percent more ultra-high net worth and high-net-worth clients than companies without CFP® professionals