ABOUT CFP®

CFP® > About CFP®

About CFP®

CFP®

About CFP®

Established in the U.S. in 1973, the CERTIFIED FINANCIAL PLANNER®, or  CFP®, certification is the international standard of excellence in financial planning. The Financial Planning Standards Board (FPSB) is responsible for setting the CFP® certification standards with the goal to help build the financial planning profession around the world.

The Financial Planning Association of Taiwan (FPAT) became a member of FPSB in November 2003. Since then, FPAT has been actively promoting the CFP®/AFP certification in Taiwan. As of December 2021, there are 3,251 CFP® holders (including 541 on the waitlist for renewal) and 680 AFP holders (including 329 on the waitlist for renewal) in Taiwan. Most of the certified professionals work at financial institutions and are mainly from the banking, insurance and securities sectors.

Currently, there are over 200,000 CFP® professionals worldwide, with the CFP® certification program reaching 25 countries and regions. The U.S. has the largest number of CFP® professionals, with a total of 92,055 certification holders. In Asia, there are 22,048 CFP® holders in China; 24,064 in Japan; 4,377 in Hong Kong; 3,303 in South Korea; 2,534 in Malaysia and 2,338 in India.

To obtain the CFP® certification, candidates must meet all four requirements of the certification process: (1) Education: completing mandatory course modules offered by education providers approved by FPAT; (2) Exam: passing the CFP® exam; (3) Experience: having the required real-world experience in performing financial planning for clients; and (4) Ethics: complying with professional standards and code of ethics. 

HSBC, among other international banking groups, has partnered with FPSB to launch a program that encourages HSBC employees in Canada, China, France, India and Singapore to obtain the CFP® certification. 

CFP® certificants may gain certification in another FPSB member country by following cross-border CFP® certification procedures. In Taiwan, 8 and 295 CFP® professionals have also obtained certification in Hong Kong and China, respectively, and around 9 CFP® professionals hold the certification in Taiwan, Hong Kong and China.

 

Global reviews of the CFP® certification

In early 2016, the FPSB conducted a global survey with 92 financial services firms, covering over 120,000 financial advisors and 10,000 consumers across 12 countries and regions, yielding the following results:

Why firms value the CFP® certification

  • 84% of firms said that employing CFP® professionals had a positive impact on client satisfaction within the firm.
  • 81% of firms said that CFP® professionals can help their organization diversify its business operation.
  • 76% of firms found that employing CFP® professionals led to increased client retention.
  • 69% of firms reported that client assets under the management of CFP® professionals had seen faster growth and better returns.

Why consumers value CFP® professionals

  • 58% of consumers feel that they can trust the resources and suggestions provided by CFP® professionals.
  • 56% of consumers feel very confident that they will achieve their financial goals by working with their CFP® professionals.
  • 55% of consumers trust their CFP® professionals to adhere to a rigorous code of ethics and comply with regulations.