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SOURCE Certified Financial Planner Board of Standards, Inc.
New research shows great interest as well as the factors that impact certification completion
WASHINGTON, Aug. 8, 2014 /PRNewswire-USNewswire/ -- New research from Certified Financial Planner Board of Standards, Inc. and Kansas State University indicates that graduates of CFP Board registered programs have positive perceptions of the certification and are interested in becoming certified.
The large-scale case study, conducted jointly by the two organizations, included in-depth interviews using qualitative methods with graduates of CFP Board Registered Programs at the baccalaureate level throughout the country. The research findings were presented today at CFP Board's annual Registered Programs Conference.
"The first step in the journey to certification is through one of our registered programs. Without them, we can't have CFP® professionals," said Kevin R. Keller, CAE, CFP Board's Chief Executive Officer. "This research furthers our goal that all graduates of any registered program take the CFP® exam and eventually become certified to serve the American public by providing the highest standard in financial advice."
Of the sixteen individuals who were interviewed, six were certified; three indicated they were in the process of becoming certified; four were not certified but intend to become certified and only three said they weren't pursuing certification. Those who said they weren't pursuing the certification stated it was usually because of personal reasons or because they chose another profession.
The four primary factors that were identified in determining the path to certification of those interviewed were their pre-service experience (faculty interactions, internships), intrinsic motivation, their employer, and their respect for CFP® certification. Most of those interviewed who pursued certification spoke of the rigor, awareness, credibility and reputation of the CFP® marks as factors in making their decision.
"The findings encourage CFP Board registered programs and employers to work together to provide meaningful experiences for students," said Dr. Kristy Archuleta, co-author of study from Kansas State University.
Added said Dr. Charles Chaffin, one of the authors of the study and the Director of Academic Programs and Initiatives at CFP Board: "We are always continuing to improve the nexus between our registered programs and certification. This research provides yet more insight into how we can create stronger bonds between registered programs and certification."
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, Certified Financial Planner™, and the federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 70,000 individuals to use these marks in the U.S.
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