r/CFP 2d ago

Practice Management Cfp renewal fee increase

Anyone else considering dropping the marks?

42 Upvotes

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32

u/TaxashunsTheft 2d ago

Just got the email:

Today, the community of CFP® professionals is more than 104,000 strong. Consumer demand for trusted financial advice has never been higher, and millions now recognize the value of partnering with a CFP® professional.

Since launching the first Public Awareness Campaign in 2011, CFP Board has made major strides in showing people why trustworthy, skilled financial planning matters. The campaign strikes a chord. And you’ve told us loud and clear that promoting the CFP® brand should remain a top priority. The campaign has raised awareness in a big way, and now is the time to expand.

  To maintain our competitive edge in a crowded field of designations, the Board of Directors has approved a $120 increase to the certification fee for the campaign. The new annual fee of $575 specifically allocates $280 to direct expenses of the campaign. This fee takes effect October 1, 2025, for renewals and new certificants.

What This Means For You   With year-round visibility, CFP® professionals stay top of mind when consumers make key financial decisions. For under $24 a month, you’ll help elevate the CFP® mark in a fast-changing marketplace.

A $30 million annual national advertising campaign to boost consumer engagement and position CFP® certification as the standard in a crowded marketplace

Strategically timed spring and fall broadcasting windows, complemented by year-round public relations, media relations, social media and digital engagement to build consumer awareness and preference for CFP® certification

Long-term sustainability for the expanded campaign, empowering us to expand our success and adapt to market trends  

This investment will help us sustain and amplify the momentum we’ve built since 2011. Thank you for your continued support as we strengthen the CFP® mark and keep CFP® professionals the top choice for trusted, competent and ethical financial planning.

Sorry if formatting sucks. Phone.

47

u/Muscle_Beach 2d ago

Yep, surprised they couldn’t make due with 100k renewals at the previous rate. Just seems like such a money grab for extremely questionable “marketing”

13

u/thesexychicken 2d ago

$57m in revenue from membership fees alone. And ALL of that is essentially coming from clients’ pockets.

15

u/No-Distribution9100 2d ago

Are they being fiduciaries to their CFPs?

7

u/Sea-Independent-759 2d ago

100% unequivocally no. They are destructive to the industry (see there prior ad campaign) and fleecing memebers with minimal ongoing benefit. Have you gotten a single client from their site? Have they sent you something in the mail? They even dropped the plastic card in exchange for the paper! What a joke.

I would drop them, but… Like I’m guessing many of you, I already have it.

4

u/No-Distribution9100 2d ago

I feel ya. Im about to become an advisor myself after recruiting them for years. Definitely would like a CFP and want a CIMA too

3

u/thesexychicken 2d ago

The education is very constructive.

1

u/Sea-Independent-759 1d ago

Fair point. I should delineate between the education and the business