CFP® designation achieves highest enrolment levels in post-GFC environment
The Financial Planning Association of Australian (FPA) today announced record enrolments for its most recent intake of its Certified Financial Planner® certification program which closed last week.
Mark Rantall, CEO of the FPA said that the increase of nearly 65% over the same period in the previous year is a tangible sign that financial planners are embracing the call to build their future based on the bedrock of professionalism and education.
“These are welcome numbers and show increasing support of our mission to uphold the CFP designation as the gold standard in professional financial planning certification,” he said.
“Over 70% of our CFP practitioners are already degree qualified, and these members also enjoy additional benefits including stronger opportunities flowing to their businesses. Research commissioned by Investment Trends showed that over 86% of CFP professionals believe that having the CFP designation has a positive impact on their reputation,” he said.
While 58% of CFP professionals surveyed by Investment Trends agreed that current business conditions are challenging, they were least concerned about the ban on non-risk commissions under the FoFA reforms and 84% reported that their businesses were at least as profitable as last year (source: Investment Trends April 2012 Planner Business Model Report).
Mr Rantall said that these encouraging figures showed that taking up the certification journey was a sure way that financial planners could build their business, demonstrate to clients a clear point of difference and embrace the highest standards in the profession recognised globally.
The FPA is confident that the future pipeline for growth in the CFP designation is strong. 63% of the professional body’s Financial Planner CFP® practitioners are degree qualified and eligible to be on the pathway to the global CFP certification.
Mr Rantall said, “For those who are not yet members of the FPA, our message is to join us before the degree requirement for FPA practitioner membership kicks in on 1st July 2013. The work we’re doing towards getting our Code of Professional Practice approved by ASIC to obviate the need for opt-in, as well as our ongoing effort to enshrine the term ‘financial planner’ are likely to be tremendously advantageous for financial planners who are part of the FPA community going forward.”
27 July 2012
