Global number of CFPs rises in 2018
The Financial Planning Standards Board (FPSB), the global licensing body for the certified financial planner designation, has announced that the global number of certified financial planner (CFP) professionals continued to grow in 2018, rising by 3.3 per cent.
This translated into an addition of 5,787 CFP professionals globally, raising the global number of certified planners to 181,360. Australia was classified as the world’s fifth largest network with close to 5,600 CFP professionals.
According to Dante De Gori, chief executive of the Financial Planning Association (FPA), these numbers reflected excellence in the financial planning industry.
“The number of CFP professionals in Australia has fallen by eight but I believe this is a positive result considering the pressure and uncertainty of the Financial Adviser Standards and Ethics Authority (FASEA) new educational and professional standards,” he said.
“The FPA has filed for formal recognition of the CFP designation from FASEA to ensure our CFP professional members receive appropriate accreditation.”
AUTHOR
Oksana Patron
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
