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Financial Planning Standards Board (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, reported that the global number of CFP professionals grew by more than 8,000 last year (for an annual growth rate of 5.7 percent), from 139,818 at year-end 2011 to 147,822 at year-end 2012.
At the top of the international CFP professional growth list, FPSB's member organization in the People's Republic of China matched growth delivered by U.S.-based CFP Board, with each increasing its territory's CFP professional count by 3,007 and 3,009 respectively. FPSB's member organization in Japan was next, adding 712 people to bring the total number of CFP professionals in that territory to 18,548. The top three were followed by strong CFP professional growth from FPSB member organizations in South Africa, Hong Kong, the Republic of Korea, Brazil and India, showing the increased impact growth markets are having in establishing financial planning as a global profession.
"Consumers in territories around the world are increasingly seeking the advice of competent and ethical financial planners, creating a demand for CFP professionals in both growth markets and more mature economies," said Noel Maye, FPSB CEO. "While many markets continued to face economic uncertainty in 2012, overall support for the CFP certification program remained strong and CFP professional numbers are on track to exceed 150,000 within the coming year."
In the Americas, the number of CFP professionals increased by 3.7 percent overall in 2012, bringing the total number of CFP professionals in Brazil, Canada and the U.S. to 85,516, representing approximately 58 percent of the total number of CFP professionals worldwide. Among FPSB's 12 member organizations in the Asia-Pacific region, the number of CFP professionals increased by 4,394 to 53,353, representing 36 percent of the global CFP professional community. FPSB's European member organizations showed a growth rate of 4.6 percent, for a total of 4,617 or 3 percent of the global total. In South Africa, FPSB's member added 346 CFP professionals, for a total number of 4,335 CFP professionals, or almost 3 percent of the world's CFP professional population.
"As regulators seek increased levels of competency from financial services practitioners and consumers seek qualified advisers, CFP certification has emerged as the symbol of excellence for those seeking competent and ethical financial planners globally," said Maye. "FPSB and its member organizations are committed to working with regulators, firms, educators and others to promote consumer awareness of financial planning, and to benefit the public by establishing, upholding and promoting worldwide professional standards in financial planning."
FPSB's vision is to establish financial planning as a global profession, with the CFP marks as its symbol of excellence. Together with its member organizations, FPSB creates internationally relevant professional standards for financial planning practitioners, enabling consumers to identify and access trusted professionals who have met rigorous competency, ethics and professional practice standards.
“By meeting and maintaining FPSB’s licensing and affiliation requirements and standards, Thai Financial Planners Association (TFPA) is authorized to administer the CFP certification program in Thailand. TFPA has become FPSB affiliate member since 2009, being the 22nd member among a total of 24 countries. Since its inception, TFPA has certified more than 100 CFP professionals to provide services in Thai financial industry. In 2012, the number of CFP professionals increased by 27 percent. With the current numbers of people enrolling in certification education courses and certification examinations, it is expected that the number of CFP professionals will continue to grow in the coming years.” Mr. Teera Phutrakul, Chairman of TFPA said.
Information on the number of CFP professionals by territory can be found at fpsb.org.
