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Certified Financial Planner (CFP) Salary

Commissions comprise a big part of overall income for Certified Financial Planners. The median take-home amount in this area is around $71K, and on average, more than two-fifths of that final number comes from commissions. In the world of Certified Financial Planners, total cash compensation can vary between $43K and $151K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $27K and $30K, respectively. Career length and the particular city each impact pay for this group, with the former having the largest influence. Unfortunately, some people in this line of work are without benefits — close to one-fourth lack coverage. On the flip side, a fair number have medical insurance and close to one-half receive dental plans. The majority of Certified Financial Planners (65 percent) who took the survey are men. Job satisfaction for Certified Financial Planners is high. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$40,291 - $119,757
(Median)
$40K
$63K
$120K
MEDIAN: $63,444
10%
50%
90%

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$14.67 - $232.70
(Median)
$15
$25
$230
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
$40,291 - $119,757  
   
Bonus
$202.03 - $27,168  
Profit Sharing
$1,167 - $29,590  
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).
)
$43,111 - $150,655  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 780
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$80$160$240
Hourly Rate
$14.67 - $232.70  
   
Overtime
$14.30 - $90.00  
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$160K$320K$480K
Bonus
$202.03 - $27,168  
   
Commission
$0.00 - $387,832  
Profit Sharing
$1,167 - $29,590  
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).
)
$43,111 - $150,655  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 43

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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 show that Certified Financial Planners use a fair number of skills. Most notably, facility with Insurance, Investment Planning, and Investment Management are correlated to pay that is significantly above average, leading to increases of 20 percent, 10 percent, and 8 percent, respectively. Skills that are correlated to lower pay, on the other hand, 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 who reported more years of relevant experience also reported higher earnings. In this position, someone who has worked for fewer than five years can expect a median salary of $57K. The median for people with five to 10 years of experience is only a little bit higher at $72K. Certified Financial Planners with one to two decades of relevant experience report an average salary of approximately $93K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $151K.

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
$71,000


Skills That Affect Certified Financial Planner (CFP) Salaries

up arrow 20%




National Average
$71,000

Financial Analysis
up arrow 1%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 164 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
4%
1-4 years
29%
5-9 years
31%
10-19 years
26%
20 years or more
11%

Common Health Benefits

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