The Certified Financial Planner Board of Standards said Tuesday that of the 3,527 candidates —the largest number of people ever — who sat for the CFP Certification Exam in March, 65% passed.
The exam was administered between March 7 and 14, and registration for the exam showed that 69% of March candidates are under 40 years old and 36% are under 30 years old, according to CFP Board.
"These post-exam survey results show that CFP certification remains the standard of excellence in financial planning and a mark of trust for clients wishing to work with a fiduciary," said CFP Board CEO Kevin Keller in a statement. "CFP Board extends its congratulations to everyone who passed this rigorous exam."
Last year's exam pass rate was also 65%, with 2,705 test takers.
Registration for the July exam — to be administered July 11 to 18 — is now open. The registration deadline is June 27, and the Education Verification deadline is June 20. Testing appointments are scheduled on a first-come, first-served basis. Early registrants who schedule exams by May 16 are eligible for a discount, CFP Board noted.
According to the March 2023 post-exam survey, exam-takers are seeking CFP certification to demonstrate expertise on the job and to distinguish themselves as fiduciaries by providing financial advice in the client's best interest.
Nearly 80% of exam-takers reported receiving some level of financial support from their employers during the CFP certification process, CFP Board said.
The top three CFP Board exam prep resources used by exam-takers were the CFP Board Practice Exam 1, the Exam Candidate Handbook and the CFP Board Candidate Forum.
Candidates also used the Candidate Preparation Toolkit, CFP Board webinars, supplementary resources and guidance documents and the CFP Board Mentor Program.
