The Certified Financial Planner Board of Standards has announced the results of its CFP® Certification Exam for March.
The CFP Board said in a news release that the exam, administered from March 7 – 14, had a pass rate of 65%. A total of 3,527 candidates took the test, the largest number of people ever to take it in the month of March.
A survey by the board said the main reason people sought CFP® certification was to demonstrate their expertise on the job. The next most important factor was a desire to distinguish themselves as fiduciaries by providing financial advice in the best interest of the client.
Nearly 80% of those who took the exam had some level of financial support from their employers during the CFP® certification process, the board said.
“These post-exam survey results show that CFP® certification remains the standard of excellence in financial planning and a mark of trust for clients wishing to work with a fiduciary,” said the CEO of the CFP Board, Kevin R. Keller. “CFP Board extends its congratulations to everyone who passed this rigorous exam. Your commitment to helping clients reach their financial goals is deeply appreciated.”
According to registration statistics, 69% of the candidates in March were under 40 years old and 36% were under 30. The top three CFP Board exam preparation resources they used were CFP Board Practice Exam 1, the Exam Candidate Handbook and the CFP Board Candidate Forum.
The CFP® exam is offered three times annually, in March, July and November. Registration for the July 2023 CFP® Certification Exam is now open. The CFP Board said people are encouraged to register for the exam at least 60 days in advance to get the best available dates and sites. Testing appointments are scheduled on a first-come, first-served basis.
Lewitas Hyman PC represents advisors, brokers and other financial professionals in all matters involving the CFP Board, including CFP Board investigations. Headquartered in Chicago, our securities attorneys represent clients nationwide. For more information relating to CFP Board investigations and discipline or other matters, contact Lewitas Hyman at (888) 655-6002 or through our online contact form for a free consultation.