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CFP Board launches women's advisory panel

The international Certified Financial Planner (CFP) Board of Standards has announced a new initiative to increase the number of women in the financial planning profession, particularly those seeking CFP certification.

CFP Board spokesperson Nancy Kistner said increasing the number of female financial planners would have concrete benefits for the industry.

“As more and more Americans need help to meet their financial goals, CFP professionals – and those who aspire to join our ranks – have an important opportunity to help Americans get back on track and take control of their financial lives," Kistner said.

“Growing the ranks of female CFP professionals not only makes good business sense, but it builds the heart and soul of this profession, which is all about helping Americans achieve financial security.

“When more women advisers are helping more women clients, they are also helping spouses, children, families and communities."

Kistner, who is also a senior executive at Bank of America Private Wealth Management, says that only 23 per cent of CFP professionals are female – a statistic that hasn’t changed in a decade, she added.

Closer to home, the Association of Financial Advisers is preparing to launch the Inspire program, aimed at connecting women professionals in the advice industry.