History

CFP Board sets and enforces the requirements for CFP® certification, including:

• Education
• Examination
• Experience
• Ethics

Individuals who successfully complete CFP Board’s initial and ongoing certification requirements are authorized to use the CFP® certification marks in the United States.

The Financial Planning Movement

The creation of CFP Board took place relatively early in the development of the movement that became known as the financial planning profession. This movement developed as a profession after World War II to help meet the financial needs of Americans.

The financial planning movement experienced a watershed moment on December 12, 1969, when 13 men gathered in Chicago and outlined the first steps to further the idea that people could benefit from a profession that integrated knowledge and practices across the various areas of the financial services industry. Resolutions were made to create the International Association for Financial Planners (IAFP) and the College for Financial Planning.

CFP® Certification is Created

In 1972, IAFP enrolled its very first group of students for the Certified Financial Planners (CFP) course at the College for Financial Planning. The 35 members of the first graduating class then formed a new membership organization called the Institute of Certified Financial Planners (ICFP) in 1973.

More than a decade after the launch of the educational program that led to the creation of the CFP® certification, it became clear that while the College had made great strides in developing the body of knowledge for financial planning professionals, an educational institution was not the proper entity to enforce the ethical standards for the profession.

CFP Board is Established

In 1985, The College entered an agreement to establish an independent, non-profit certifying and standards-setting organization. Ownership of the CFP® marks and responsibility for continuing the CFP® certification program was transferred to the new 501(c)(3) organization, International Board of Standards and Practices for Certified Financial Planners, Inc. (IBCFP), now known as CFP Board.

CFP Board Today

Today, CFP Board consists of two affiliated organizations, CFP Board Center for Financial Planning (a 501(c)(3) organization) and CFP Board of Standards (a 501(c)(6) organization), both of which are focused on achieving strategic priorities that advance the financial planning profession for the public’s benefit.

CFP Board continues to work to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. Over the years, each of the certification requirements has been strengthened to ensure the CFP® certification's relevance for the public in need of competent and ethical personal advice.

CFP Board of Standards credentials competent and ethical financial planners, upholds CFP® certification as the recognized standard and advances the financial planning profession. It works with many educational institutions that help individuals obtain the body of professional knowledge required to practice financial planning, and we work alongside membership organizations that provide support to professionals who provide financial planning services to the public.

CFP Board Center for Financial Planning is bringing the profession together and securing its future by creating a sustainable supply of new and more diverse financial planners to replace the retiring workforce, and by building an academic home that offers opportunities for conducting and publishing new research, adding to the financial planning body of knowledge.

Nearly 100,000 professionals in the U.S. currently hold CFP® certification.