In the News

Record growth for black and Latino CFPs; status quo for women

By Charles Paikert February 28, 2020 Financial Planning

The number of black and Latino CFP professionals grew 12% last year — the highest increase ever, according to the CFP Board.

“We’re making a small but impactful difference,” says D.A. Abrams, managing director of the board's Center for Financial Planning.

The growth rate for female CFP professionals, however, stayed the same, at just under 4%, although the total number of certified female advisors surpassed 20,000 for the first time.

Overall, the total number of certified advisors grew nearly 4% last year, about the same as 2018.

Despite last year’s gains, there are still only 3,259 black and Latino CFP professionals in total. They make up less than 4% of the 86,378 certified advisors, while blacks and Latinos account for nearly 30% of the country’s population, Abrams notes.