CFP Board Center for Financial Planning - Workforce Development Initiative

CFP Board reports1 a “growing number of financial planners [will] retire” and sounds the alarm to avoid a “shortage of CFP® professionals to serve the increasing demand of the public.”

One of the ways CFP Board is “building the talent pipeline” is through the Financial Planning Career Paths initiative from CFP Board’s Center for Financial Planning. A brief summary from the program follows.

“Financial Planning Career Paths: Building More Sustainable and Successful Businesses is the result of this extensive research and analysis. This comprehensive guide offers guidance on best practices for establishing career paths that facilitate recruitment, onboarding, training, career development and retention of financial planners and advisors. It provides a detailed picture of each rung on the financial planner career ladder, including the skills, experience and responsibilities necessary for success in each position. Additionally, it provides a framework for compensation and organizational advancement so that professionals can manage their expectations and be well rewarded for their efforts. Establishing and communicating clear career paths is crucial to drawing new talent into our profession. Career paths provide clarity and transparency around compensation models and advancement opportunities, enabling firms to more effectively engage with and develop talented professionals.”

For more information, go to https://www.cfp.net/-/media/files/cfp-board/why-and-get-certified/financial-planning-career-paths-guide.pdf

1 Retrieved from https://www.cfp.net/initiatives/our-initiatives