Data Shows Increasing Demand for Financial Advisors

April 5, 2017

Women Make Up Just 23 Percent of Current Financial Planners and People of Color Even Less

Rianka Dorsainvil, CFP® from Baltimore, MD

(Washington, DC, Wednesday, April 5, 2017) – Today, more than 40 percent of Americans work with financial advisors, compared to just 28 percent in 2010. This growth reflects the increasing demand for personal financial advice. However, nearly 20 percent of financial planners are approaching retirement and the current make-up of financial planners is not reflective of the communities they serve. Women make up just 23 percent of current financial planners and people of color even less.

The CFP Board Center for Financial Planning is focused on the development the next generation of financial planners and has launched the “I am a CFP® Pro” campaign. The educational campaign is focused on motivating young people, specifically women and people of color, to consider a career in financial planning.

The “I am a CFP® Pro” campaign highlights the many benefits of pursuing a career as a financial planner, including a flexible work schedule, the ability to make a difference in peoples’ lives, and the opportunity for career and financial growth.

A new website, will include career benefit information, videos from real CFP® pros and toolkits for how to pursue a career as a CFP® professional. The campaign also encourages current CFP® pros and those interested in learning more to join the conversation on social media using hashtag #CFPPro.

 

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