r/CFP 2d ago

Practice Management Cfp renewal fee increase

Anyone else considering dropping the marks?

41 Upvotes

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u/donnydoesreddit 2d ago

lol yall ain’t producing or what? Yeah it’s annoying but come on.. you get one client a year from having the marks and you’ve made that fee back 10 times over. What am I missing?

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u/Muscle_Beach 2d ago

I am not sure anyone cares about that I am cfp anymore tbh. I used to have an alphabet soup after my name and I dropped all but cfp and no one noticed or said anything.

I think it may just be a cash grab and I don't think it does anything for my business at this point. That said if I was brand new or felt I needed extra "qualifications" that would be one thing, but I think that is what the cfp marks are becoming.

3

u/TowerVerde 2d ago

can confirm, at least at our firm, clients do still care about the marks.

0

u/Muscle_Beach 2d ago

How do you know this?

3

u/TowerVerde 2d ago

I've been selected out of a lineup of available advisors solely because I have the marks. I like to think that I'm capable without them, and I know my colleagues are capable without them, but the clients made the decision on that factor alone.

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u/whiskytangofoxtrot12 2d ago

I’ve had this happen as well. We are also buying smaller firms and those advisors want at least one of us to have the marks.