The number of Certified Financial Planners (CFPs) in the United States climbed significantly last year, surpassing 100,000 for the first time. Financial Planning reports that this increase of over 6,500 professionals reflects the continued expansion of the wealth management industry and demographic shifts across the country.

While larger states like California still hold the highest number of CFPs, smaller states such as West Virginia, North Dakota, and Idaho saw the fastest growth rates. A study by SmartAsset attributes this trend to industry expansion, tax incentives, and changing population distributions.

Texas led in raw growth, adding 374 new CFPs in 2024, bringing its total to 7,394. Colorado, meanwhile, had the lowest per capita ratio of CFPs, with 1,836 residents per planner. According to SmartAsset's director of economic analysis, Jaclyn DeJohn, competition among financial advisors influences service quality, advisor retention, and income potential.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.