Number of CFP professionals grows globally, shrinks in Australia

The number of certified financial planner (CFP) professionals worldwide increased by 5.5 per cent in 2021 to 203,312.

But while the number of CFP professionals grew globally, in Australia numbers fell by four per cent in 2021.

This, however, compares to an 11 per cent drop in financial planners broadly across the profession.

Commenting on the new data, Sarah Abood, CEO of the FPA, said CFP professionals now make up 55 per cent of our practitioner members.

 “CFP certification reflects a commitment to excellence in financial planning," Ms Abood said.

“It is particularly pleasing to see that financial planners continue to recognise the value of the CFP certification and dedicate themselves to education excellence, despite the challenges they have been facing over the past few years."

The FPA welcomed 164 new CFP professionals in 2021, making a total of 4,966 CFP professionals in Australia.

The CFP Certification Program globally is managed by the Financial Planning Standard Board (FPSB) and currently runs in 27 countries.

“Last year, the number of CFP professionals reached the highest ever, with growth from emerging, developing and mature markets demonstrating the broad appeal of financial planning and CFP certification worldwide,” said FPSB CEO Noel Maye.

“Doubling the number of CFP professionals globally since FPSB’s creation in 2004 and increasing the number of CFP professionals tenfold since CFP certification first went international in 1990 is a tremendous accomplishment.”