Fifty-five per cent of financial services firms believe that achieving a certified financial planner (CFP) designation will accelerate an adviser's career progression, according to a new study.
The study, conducted by Comparator and released by the Financial Planning Standards Board, found 69 per cent of firms are planning to increase the number of CFP professionals they employ this year.
The research also found that of the 92 financial services firms surveyed, 64 per cent believe advisers with CFP certification are more productive than those without, while 64 per cent stated CFP professionals lowered compliance and legal risks.
FPA chief executive Mark Rantall said the research emphasises the important role of CFP professionals in further developing the financial planning profession.
The CFP certification is a “true professional passport for financial planners looking to improve their hiring prospects and client value proposition”, said Mr Rantall.
“We truly believe that the highest certification available in Australia has significant professional dividends, both to the individual CFP professional and the firms that employ them.”
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