CFP Board Raises Renewal Fee by 26%
The group will increase its certification fees to $575 to support its public awareness campaign and marketing efforts.
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You’ve got to spend money to make money.
In an effort to bolster its marketing efforts and ultimately draw more clients to certified advisors, the CFP Board will increase its certification fees to $575 from $455 — a 26% hike — starting October 1. The Board said the $120 increase will go entirely toward its consumer public awareness campaign that help the industry group “maintain our competitive edge in a crowded field of designations.”
But do advisors who pay for the designation agree with the increase? Well, it’s a mixed bag.
The Campaign Trail
The fee increase will generate one-fourth of the $12.5 million needed to add a fall 2025 broadcast window to the Board’s marketing efforts, which will include a TV campaign, according to CFP Board Chair Liz Miller. The TV ads coincide with the time of the year many people are seeking advice about tax planning, retirement contributions, holiday purchases, and gifting, she told Advisor Upside.
“The campaign keeps CFP certification front and center with consumers, builds trust and sets professionals apart from today’s ‘alphabet soup’ of financial designations,” Miller said, adding that 90% of CFPs say that increasing awareness and promoting the brand to the public is a top priority.
By 2026, the certification fee will fully support the expanded awareness campaign, according to the CFP Board.
Advisor Sentiment. Some CFP Board-certified advisors fully support the higher payment and praise the awareness campaign. “I’m more than willing to pay the increased renewal fee—for both myself and my team—because I see the return on investment,” said Gregory Furer, CEO of Beratung Advisors.
However, not everyone is a fan of the extra $10 a month in fees. “Everything in this country is going up in price for the most part so I’m not surprised,” said Ryan Salah with Capital Financial Partners. “We’ll see if it leads to any value add… I’m not holding my breath.”
Faith in the Board’s marketing efforts was also rattled last fall when the organization released a series of ads geared toward high school and college students that many with the CFP designation felt depicted the profession as underworked and overpaid. “The most recent ones involving naps, burritos, and bubble baths were a complete disaster and were widely criticized by those who hold the marks,” said Michael Espinosa, an advisor with TrueNorth Wealth. Those ads were part of the Board’s recruiting campaign, separate from the its consumer public awareness campaign.
