CFP Board’s Study Shows Impact of CFP® Professionals on Financial Well-Being
CFP® Board Updates
The CFP Board has released the first findings from its Financial Planning Longitudinal Study, a decade-long research initiative analyzing the financial well-being of American households. The study’s initial results reveal a significant advantage for individuals who work with CERTIFIED FINANCIAL PLANNER® (CFP®) professionals, showing they achieve better financial outcomes and greater personal well-being compared to those who work with non-CFP® advisors or handle finances independently. These clients are more likely to have comprehensive financial plans, emergency savings, and wills, and they report living more comfortably with fewer financial conflicts at home.
A closer look at the data highlights the substantial financial preparedness among CFP® professional-advised clients. 78% maintain at least a three-month emergency fund, compared to 68% of clients with non-CFP® advisors and just 53% of those without financial guidance. CFP® professional-advised clients are also more engaged in financial planning, with 44% receiving financial plan reviews at least annually, nearly double the rate of non-CFP® clients. Their comprehensive approach results in higher confidence in handling financial uncertainties, stronger family financial dynamics, and significantly lower financial anxiety—only 8% report money-related stress.
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