The Certified Financial Planner Board of Standards (CFP Board) approved CFP Board's 2022-2026 Strategic Plan. The plan includes an ambitious list of new strategic priorities— Standards & Certification, Access, Awareness, Community & Regulatory Engagement, and Workforce Development.
According to the Board the priorities advance the value and visibility of the CFP® certification for the public and for CFP® professionals. The strategic priorities also strengthen CFP® certification's standing as the high standard for competent and ethical personal financial planning. The Board emphasized that the priorities align with CFP® professionals' priorities for CFP Board, and they advance the profession.
The Board has committed significant funding from CFP Board's reserves in order to accomplish the CFP Board's important mission and implement the new strategic priorities. The Board made changes to the fee structure associated with the value that the CFP® certification brand delivers to CFP® professionals and to CFP Board's partners in its certification program in an effort to fund the implementation of the new strategic priorities.
The new annual certification fee takes effect for individuals who become certified beginning October 1, 2022, and later, as well as for renewing CFP® professionals whose certification periods expire in October 2022 or later. The new annual certification fee will be invested as follows:
- $15 to Public Awareness Campaign
- $35 to Workforce Development
- $10 to the Center for Financial Planning
- $20 to Client Impact Research/Practice Resources
- $20 to Enforcement
According to the Board, "The investment of your annual certification fee in these programs ensures the long-term relevance and sustainability of the financial planning profession and the value and importance of CFP® certification."
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