Certified financial planners said they are satisfied with their choice of careers and plan to keep the CFP designation for 19 years, according to a new survey by the Certified Financial Planner Board of Standards.
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The survey, conducted by Westat, of 297 CFP professionals, found that 86 percent of respondents said they are very satisfied with their career choice in financial planning. In addition, 88 percent of the respondents strongly agreed that financial professionals providing personalized investment advice should be held to a fiduciary standard of care.
The survey also found that 91 percent of the respondents would recommend the CFP certification to other financial professionals, and 75 percent of the survey respondents strongly agreed that the CFP certification contributes directly to their own professional success.
CFP professionals who responded to the survey in late July and early August said they expect to hold their certification for 19 years, up from 15 years in 2008.
The CFP respondents said they earned a median of $144,850 a year and served an average of 100 clients with a median amount of $450,000 in investable assets.