The 2012 Professional Affiliation survey, based on the responses of 845 financial planners, also noted that experienced non-principal Financial Planning Association (FPA) members typically earn one third more than non-FPA planners with the same level of experience.
Of the CFP planners surveyed, 86 per cent believe that the CFP designation has a positive impact on their reputation and over half of those practitioners find that having a CFP designation has a positive influence on business growth.
“This research highlights the double dividend accrued to the community and our members by continuing the journey to raise standards in financial planning,” FPA chair Matthew Rowe said.
“Not only do Australians turn more often to a CFP than any other designation when seeking a financial planner, they are also willing to pay up to a third more for that trusted service. So we see here the double dividend of financial planners delivering a fundamental social good, while also being remunerated well for their advice,” he said.
The survey also shows that consumers are increasingly aware of the CFP designation ahead of any other – with 35 per cent of all surveyed stating that the CFP qualification is desired in a financial planner.
FPA has also lunched a national financial planning degree in conjunction with the Financial Planning Education Council (FPEC) today.
The new degree curriculum follows national consultation framework on the curriculum and accreditation requirements for financial planning in Australia from April 2012.
