Diversity AND INCLUSION

The American public – and with it, those seeking financial advice – is increasingly diverse. As consumer demand for financial advice grows, it is imperative that the financial planning profession work toward expanding and diversifying the ranks of financial planners who can meet the needs of increasingly diverse consumers. However, women make up only 23% of CFP® professionals.  In addition, blacks and Latinos represent less than 3.5 percent of all CFP® professionals even though they comprise more than 13 and 17 percent of the U.S. population, respectively, and are increasingly building wealth.

In addition to raising awareness of financial planning careers among underrepresented populations, the Center seeks to effect systemic change across recruiting, training and retention practices to foster a more diverse workforce that reflects the changing demographics of wealth in the United States.

Center’s programming to advance Diversity and Inclusion includes:

  • Publishing Racial Diversity in Financial Planning: Where We are and Where We Must Goa thought leadership paper that outlines research-based, actionable solutions for key stakeholders to create a more diverse and inclusive profession.  
  • Hosting Diversity Summits to engage and hold stakeholders accountable for advancing diversity and inclusion by showcasing case studies and best practices for hiring, developing and retaining diverse CFP® professionals. 
  • Launching the “I am a CFP® Pro” campaign to attract young, diverse talent into the profession by highlighting the many benefits of a career in financial planning and dispelling common misperceptions through “day-in-the-life” videos and stories shared on social media.
  • Expanding the Women’s Initiative (WIN), including the WIN Advocate Program to educate women and girls about financial planning careers, as well as developing new programs to increase the number of women in financial planning.  
  • Launching the CFP Board Mentor Program to connect aspiring CFP® professionals with experienced CFP® professional mentors to help guide them through the certification process. The program offers a variety of mentor matching options, including gender, race and ethnicity.