The Licensed Monetary Planner Board of Requirements stated a record-breaking variety of candidates sat for the examination in March. That is excellent news for a occupation hungry for expertise because it faces a wave of retirements from first-generation advisors.

A complete of three,683 candidates took the examination through the March 12-19 testing window, breaking final March’s document of three,527 examination takers, the board stated. The move price remained regular at  68%. In accordance with the board’s knowledge, the move price over the previous 10 years has averaged roughly 63%.

The board tasks that the variety of lively CFP professionals within the U.S. will quickly surpass 100,000, representing about one-third of retail monetary advisors. Earlier this 12 months, the board reported that the variety of certificates holders in 2023  reached 98,875, a achieve of three.9% over 2022.

“This unprecedented turnout for the March 2024 CFP examination displays the popularity of CFP certification as the usual for competent, moral monetary planning,” CFP Board CEO Kevin Keller stated in an announcement. “As extra Individuals search trusted and certified advisors, the worth of CFP® certification turns into more and more evident,” he added.

Candidates in a post-exam survey cited their need to display experience of their job (87%), as the highest cause for pursuing the CFP certification.  That was adopted by distinguishing themselves as a fiduciary (73%).

The board additionally stated that 68% of March take a look at takers have been beneath 40 years previous and 37% e beneath age 30. Greater than half of the take a look at takers (1,895) got here, in descending order, from the next states: California, Texas, Illinois, Florida, New York, Pennsylvania, North Carolina, Michigan, Colorado and Massachusetts.

The CFP examination is obtainable thrice yearly, in March, July and November. Registration for July 2024, which might be administered July 9-16, is open. The registration deadline is June 25, and the schooling verification deadline is June 18. Testing appointments are scheduled on a first-come, first-served foundation, the board stated.