CENTENNIAL, CO--(Marketwired - July 12, 2016) - A financial certification or professional designation in the financial planning industry leads to greater earnings, additional clients, and increased career satisfaction, the College for Financial Planning (CFFP) has found in its 2016 Survey of Trends in the Financial Planning Industry. Results are available at cffpinfo.com/survey-of-trends.
The latest survey showcases the individuals who have completed CFFP's programs as well as responses from CFP® professionals who completed their education at schools other than CFFP. It provides a snapshot of who they are, how long they have been in the industry, what they earn, who their clients are, and more.
"The overwhelming majority of our students feel that working toward and obtaining the right financial credentials directly affects their level of success and enables them to better serve their clients," CFFP Academic Affairs Vice President Jim Pasztor said. "The bar is consistently being raised in the financial services industry, and it is obvious that lifetime financial education is important for any successful financial advisor."
Among this year's survey results:
- On average, respondents experienced an 18 percent salary increase after completing their respective programs. The average annual income before enrollment was $113,503, which increased to $133,524 after program completion.
- 94 percent of respondents said their financial credentials directly affected their level of success.
- 63 percent of respondents reported that they have worked in the financial services industry for 10 years or more.
The survey also includes information on respondents' clientele. For instance, roughly three out of every four clients are between the ages of 50 and 69, and less than 5 percent of clients are younger than 40 years old.
The Survey of Trends provides data analysis for the following financial credentials:
- CERTIFIED FINANCIAL PLANNER™ or CFP® certification
- Accredited Asset Management Specialist℠ or AAMS® designation
- Accredited Portfolio Management Advisor℠ or APMA® designation
- Accredited Wealth Management Advisor℠ or AWMA® designation
- Chartered Mutual Fund Counselor℠ or CMFC® designation
- Chartered Retirement Planning Counselor℠ or CRPC® designation
- Chartered Retirement Plans Specialist℠ or CRPS® designation
- The College for Financial Planning's Master of Science Degree programs
- Foundations in Financial Planning℠ professional education program
CFFP has conducted the survey for more than 20 years, although the results haven't been published every year due to varying response rates.
CFFP compiled data by sending a series of questions to recent graduates of its own CFP Certification Professional Education Program, each of its professional designation programs, and its Master of Science degree programs. It also sent the survey to CFP® certification holders who completed their education at schools other than CFFP. There were 370 valid responses for the survey.
The 2016 Survey of Trends in the Financial Planning Industry is available online at http://www.cffpinfo.com/survey-of-trends.
About the College for Financial Planning
Founded in 1972, the College for Financial Planning provides accessible and flexible degree, non-degree, and continuing professional education programs to students nationwide. Shortly after its founding, the College introduced the CERTIFIED FINANCIAL PLANNER™ certification, which has evolved into the world's most recognized and respected financial planning credential, with more than 65,000 professionals in the U.S. having earned the credential.
In addition to its CFP Certification Professional Education Program, the College offers two graduate degree programs that provide more in-depth knowledge of the finance industry. Professional designation programs are also available, with specializations ranging from asset management to retirement planning. The College for Financial Planning is accredited by the Higher Learning Commission and is a member of the North Central Association. More than 150,000 students have graduated from the College's programs. For more information, visit www.cffpinfo.com.