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Certified Financial Planner (CFP) Salary

Total annual pay for Certified Financial Planners is approximately $70K, and commissions account for a significant portion of this final number — just over two-fifths on average. In the world of Certified Financial Planners, overall income ranges from $43K near the bottom to $146K at the top; this can include more than $27K from bonuses and more than $30K from profit sharing in exceptional cases. Career duration is the biggest factor affecting pay for this group, followed by geography. The majority of Certified Financial Planners (64 percent) survey respondents are male. Most workers in this position report high levels of job satisfaction. While approximately one-fourth report receiving no health benefits, a strong majority do receive medical coverage, and half have dental, as well. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$39,954 - $117,257
(Median)
$40K
$63K
$120K
MEDIAN: $62,633
10%
50%
90%

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$14.92 - $200.00
(Median)
$15
$25
$200
MEDIAN: $24.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$130K$260K$390K
Salary
$39,954 - $117,257  
   
Bonus
$196.53 - $26,931  
Profit Sharing
$1,159 - $29,799  
Commission
$0.00 - $387,832  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,753 - $146,444  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 770
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$70$140$210
Hourly Rate
$14.92 - $200.00  
   
Overtime
$27.73 - $62.19  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$140K$280K$420K
Bonus
$196.53 - $26,931  
   
Commission
$0.00 - $387,832  
Profit Sharing
$1,159 - $29,799  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,753 - $146,444  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 39

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Job Description for Certified Financial Planner (CFP)

A Certified Financial Planner is expected to create and develop client relationships through telephone conversations, email, and person-to-person meetings. A financial planner's responsibility is to assess the financial needs and goals of each client, and to develop and implement a financial plan that fulfills those needs and goals. Responsibilities include plan development, selecting and selling of appropriate financial services, and monitoring and adapting plans as needs and financial conditions change. Cross-selling of financial services with other financial experts may be required. A designation of certified financial planner is required, as well as strong listening, communication, organizational, and interpersonal skills. Planners must be able to communicate effectively both in person and over the phone. Excellent knowledge of financial markets, products, and services is a must. Expect to attend workshops and seminars to stay on top of the most recent products and policies. The ability to multitask and work well in groups is also a necessity. It is also required that planners have the ability to understand and work with computer applications such as Microsoft Office and other financial programs. Financial planners should have a background in banking and understand law and accounting practices. Honesty and integrity are a must, as well as a motivated personality, and the ability to adapt your time to your clients' needs. Planners should expect some travel to both client locations and product knowledge seminars, as well as being able to work with other professionals in the industry that can help you satisfy your clients needs. A planner must have the ability to put the client needs above all else.


Certified Financial Planner (CFP) Tasks

  • Document and revise financial plans for clients.
  • Create agendas, spreadsheets, and meeting materials to discuss investments, savings, and asset allocation.
  • Interview individuals or businesses to identify financial goals, concerns, and opportunities.

Certified Financial Planner (CFP) Job Listings

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Popular Skills for Certified Financial Planner (CFP)


Survey results suggest that Certified Financial Planners put a wide range of professional skills to use. Most notably, skills in Insurance, Investment Planning, Investment Management, and Financial Advisor are correlated to pay that is above average, with boosts between 8 percent and 18 percent. Skills that seem to negatively impact pay include Microsoft Excel. Those proficient in Financial Advisor are, more often than not, also skilled in Financial Analysis and Investment Management.

Pay by Experience Level for Certified Financial Planner (CFP)

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Certified Financial Planners with a rich background of experience are typically rewarded with larger paychecks. Certified Financial Planners in the early stages of their careers take home approximately $57K on average. The average for people in the five-to-10 year group is only a little larger at $72K. Certified Financial Planners with one to two decades of relevant experience report an average salary of approximately $93K. Old hands who claim more than two decades on the job enjoy average earnings of $144K.

Certified Financial Planner (CFP) Reviews

What is it like working as a Certified Financial Planner (CFP)?

Certified Financial Planner (CFP) in Dallas:
"Great career."
Pros: Helping individuals grasp where they are financial and what can be done to improve their situation.
Cons: Hours worked.

Related Job Salaries

United States (change)

Experience Affects Certified Financial Planner (CFP) Salaries




National Average
$70,000


Skills That Affect Certified Financial Planner (CFP) Salaries

up arrow 18%




Financial Analysis
0%

National Average
$70,000


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 172 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
4%
1-4 years
30%
5-9 years
31%
10-19 years
26%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 73% dental benefits Dental: 49%
vision benefits Vision: 34% employee benefits None: 27%