Certified financial planners are uniquely qualified to help Americans keep their finances in good stead, the CFP Board of Standards said. The group has just rolled out a glossy $36 million advertising campaign to make them aware of that.
The group, in Washington, announced the push on Thursday. The campaign underscores the CFP Board's mission to make the CFP mark the one recognized standard of excellence for financial planning services.
"Over the years, we've done a good job of establishing high standards," said Charles A. Moran, the 2011 chair of the CFP Board of Standards. "The value also depends on the public recognizing what the CFP represents and why they should seek out financial planners who have attained it."
The public awareness campaign was funded by a hefty and controversial increase in fees that its chairman expected could "double" attrition.
The CFP Board's consumer research, conducted last year, found that when prospective clients become familiar with financial planning and the work of a CFP professional, they are more likely to seek one out, said Kevin Keller, chief executive officer of the CFP Board.
