The Financial Planning Standards Board (FPSB) reported that the number of CFP professionals worldwide has surpassed 213,000. With a gain of 9,690 CFP professionals in 2022, the number of CFP professionals worldwide increased nearly 5 per cent to a total of 213,002, as of 31 December 2022.
“We’re pleased to report the number of Certified Financial Planner professionals worldwide continues to grow, reaching its highest ever at over 213,000. Our robust global community of CFP professionals means people around the world have access to financial planning from those who have committed to rigorous standards of competency, ethics, and practice,” said FPSB chief executive Dante De Gori.
“With global economic uncertainty and the rising costs of living impacting so many, increased access to financial planning advice is of utmost importance to help individuals and families stay on track to reach their goals and achieve financial well-being.”
Reflecting the broader decline in financial adviser numbers in Australia, the number of CFP professionals fell by 356 in 2022, bringing their total number to 4,610.
The drop also meant Australia had fallen from sixth position on the global table of CFP professionals in 2021, to seventh in 2022, with South Africa jumping to sixth.
Conversely, increases were most prominent in the Americas and Asia-Pacific. China added 3,382 CFP professionals for a year-end count of 30,182, and now represents the second-largest CFP professional community in the world.
The US added 3,082 CFP professionals for a year-end count of 95,137 and represents the largest CFP professional community in the world, while Brazil saw an increase of 1,245 CFP professionals for a year-end count of 8,630.
Japan added 1,034 CFP professionals for a year-end count of 25,098, Canada was up 462 CFP professionals for a year-end count of 17,259, while Chinese Taipei added 410 CFP to 2,842.
“Increasing the number of CFP professionals nearly two-and-a-half times globally since FPSB’s creation in 2004 reinforces the value CFP certification holds in the global financial planning profession,” added De Gori.
“With 26 years of continuous growth of CFP professionals, we are grateful for FPSB’s network of organisations and the hundreds of thousands of CFP professionals who support the advancement of the financial planning profession, with CFP certification its symbol of excellence.”
It would be interesting to know if other countries CFP numbers were boosted by gifting it to advisers with minimal education, the same way FPA did for a while in Australia.
It reflects poorly on FPSB that they have employed the former head of an organisation involved in devaluing the CFP standard.