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Certified Financial Planner (CFP) Salary

A big portion of take-home pay for Certified Financial Planners — more than two-fifths, in fact — arrives through commissions. This profession's median overall income is approximately $69K. With some bonuses approaching $25K and certain profit sharing proceeds approaching $29K, overall incomes of Certified Financial Planners spread between $42K and $142K depending on individual performance. Career length and the particular city each impact pay for this group, with the former having the largest influence. For the most part, Certified Financial Planners enjoy their work and report high levels of job satisfaction. The majority of Certified Financial Planners (64 percent) survey respondents are male. Not all workers are lucky enough to have benefits; in fact, nearly one-fourth are without coverage. Medical insurance is claimed by a fair number and dental insurance is reported by half. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$39,595 - $109,237
(Median)
$40K
$62K
$110K
MEDIAN: $61,631
10%
50%
90%

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$15.14 - $152.60
(Median)
$15
$25
$150
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
$39,595 - $109,237  
   
Bonus
$202.03 - $25,342  
Profit Sharing
$1,178 - $29,233  
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).
)
$42,427 - $142,282  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 744
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
$15.14 - $152.60  
   
Overtime
$0.21 - $117.45  
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
$202.03 - $25,342  
   
Commission
$0.00 - $387,832  
Profit Sharing
$1,178 - $29,233  
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).
)
$42,427 - $142,282  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 39
United States (change)

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)


Certified Financial Planners seem to require a number of specific skills. Most notably, skills in Insurance, Investment Management, Investment Planning, and Financial Advisor are correlated to pay that is above average, with boosts between 8 percent and 14 percent. Skills that are correlated to lower pay, on the other hand, include Microsoft Excel. Most people familiar with Financial Advisor also know 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. Salaries for inexperienced workers average out to $71K, and those with five to 10 years' experience earn a higher median of $55K. Certified Financial Planners claiming one to two decades of experience make an estimated median of $90K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $140K.

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

Experience Affects Certified Financial Planner (CFP) Salaries




National Average
$69,000


Skills That Affect Certified Financial Planner (CFP) Salaries

up arrow 14%




Financial Analysis
up arrow 1%

National Average
$69,000

Microsoft Excel
up arrow 7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 183 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
25%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 75% dental benefits Dental: 50%
vision benefits Vision: 35% employee benefits None: 25%