Consumers Want Advisors To Focus On Financial Planning
Survey Shows Americans Looking for Holistic Financial Advice and Competent Advisers with a Financial Planning Certification
Conducted by survey research firm
"As Americans' finances become more and more complex, they are turning to advisers who can partner with them, look at their total financial picture, put all the pieces together and provide a comprehensive financial plan," said CFP Board Chief Executive Officer
Certifications are also important to Americans when choosing a financial adviser, with 84 percent of those surveyed saying they play a role in choosing someone to work with. When it comes to what kind of certifications financial advisers should have, 87 percent said they would feel more confident working with someone who has a financial planning certification. Of those surveyed, 68 percent also preferred working with someone who has a certification or designation that "demonstrate(s) knowledge of multiple financial areas" such as investments, taxes, insurance and budgeting.
Another highlight of the survey showed that nearly half of those surveyed (48 percent) said "strong knowledge of financial planning" was most important to them in choosing a financial adviser, with 64 percent of those between the ages of 18 and 24 saying it was most important. The survey also showed that there seems to be an opportunity for current and prospective financial advisers, as 41 percent of Americans report that they haven't worked with an adviser.
"As this survey shows, Americans want advisers who are competent in financial planning and have a designation to prove it," said Keller. "Fortunately for both advisers and the American public, the CFP® certification is the standard for financial planning, providing financial professionals with the tools they need to help clients put together a picture of their entire financial lives."
More information about the CFP® certification and how to earn it can be found at www.CFP.net/get-certified. Americans looking to learn more about financial planning and to find a CFP® professional in their area should visit www.LetsMakeaPlan.org.
Note on Methodology and Survey Report
The online survey was conducted
ABOUT CFP BOARD: The mission of Certified Financial Planner Board of
SOURCE Certified Financial Planner Board of
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