Certified financial planners will be paying higher fees starting next fall under an increase announced by the CFP Board that will help fund expanded marketing efforts.
The board approved a $120 hike that raises the annual fee of CFP certification and renewal to $575. It specifically allocates $280 of the fee to direct expenses of an ongoing public awareness campaign to promote the CFP brand.
The board states that the higher fee, which takes effect October 1, 2025 for renewals and new certificants, is needed to “maintain our competitive edge in a crowded field of designations.”
The increase will generate one-fourth of the $12.5 million needed to add a fall 2025 broadcast window for the public awareness campaign, which the board said has helped make “major strides in showing people why trustworthy, skilled financial planning matters.”
Several CFP’s spoke with WealthManagement.com to offer their opinions of the increase in renewal fees.
“Is it a good use of money? I’m not exactly sure,” said Joseph Conroy, financial advisor at Harford Retirement Planners in Bel Air, Md. “If the CFP board asked my opinion, I would say keep the fees and marketing budget the same. I don’t think I’ll see a return on the extra money I’m paying in renewal fees.”
The board said the fee hike will help fund a $30 million annual national advertising campaign to boost consumer engagement and position CFP® certification as the standard in a crowded marketplace. The board said it heard “loud and clear that promoting the CFP brand should remain a top priority. The campaign has raised awareness in a big way, and now is the time to expand.”
Dann Ryan, managing partner at New York-based Sincerus Advisory, said the hike would not prevent him from renewing his CFP designation but expressed concern about the overall impact of the increase.
“I don’t think anybody will seriously consider giving up the designation on the increased cost alone, but I also think they’re opening themselves to a lot of pushback that will detract from the core focus,” he said. “Which is the last thing they need right now when the industry demographics are already so strained.”
CFP Board Chair Liz Miller, who also holds a CFP designation, said its annual certificant survey found that 90% of CFPs say promoting the brand is a top priority.
“The campaign keeps CFP certification front and center with consumers, builds trust and sets CFP professionals apart from the ‘alphabet soup’ of financial designations,” Miller said via email. “Every dollar of the fee increase is going directly to expanding the public awareness campaign to support CFP professionals throughout the year. The expanded campaign adds to our popular TV ads right as consumers are looking for advice with year-end tax planning, retirement contributions and holiday gifting.”
The CFP Board said its survey showed that unaided consumer awareness of the CFP brand had risen from 17% in 2011 to 44% in 2024. Total awareness rose from 71% to 91%, and preference for working with a CFP as opposed to a non-CFP advisor increased from 22% to 89%.
One financial planner who favored raising fees to help boost the marketing efforts was Alvin Carles, managing partner with District Capital Management.
“Close to half of the renewal fee will go toward their public awareness campaign,” he said via email. “This will help educate the public to look for the CFP designation when looking for a financial advisor,” adding he believed most advisors would pay the fee hike.
Lewitas Hyman PC represents advisors, brokers and other financial professional 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
