The average pay for a Certified Financial Planner (CFP) is $25.01 per hour.
The average pay for a Certified Financial Planner (CFP) is $66,609 per year.
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Job Description
While many entities provide financial planning assistance to people who want a better handle on their financial situations and goals, a certified financial planner (CFP) can truly be considered a professional in the field. CFPs are only granted this title after passing a grueling certification process which ensures the individual's extensive knowledge of all aspects of the work; these include retirement planning and tax laws and regulations, as well as insurance and investment vehicles. Certified financial planners work with individuals, either under the auspices of a financial institution or in private practice, to help them manage money, income, and expenses.
Read More...- Interview individuals or businesses to identify financial goals, concerns, and opportunities.
- Create agendas, spreadsheets, and meeting materials to discuss investments, savings, and asset allocation.
- Document and revise financial plans for clients.
MassMutual Financial Group offers the highest compensation with a median salary of $117K.
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Popular Skills
Certified Financial Planners report using a deep pool of skills on the job. Most notably, skills in Insurance, Strategic Planning, Financial Advisor, and Investment Management are correlated to pay that is above average, with boosts between 7 percent and 12 percent. Skills that pay less than market rate include Client Interaction, Tax Consulting, and Microsoft Excel. Most people experienced in Financial Advisor also know Investment Management and Financial Analysis.
Pay by Experience Level
Pay by Experience for a Certified Financial Planner (CFP) has a positive trend. An entry-level Certified Financial Planner (CFP) with less than 5 years of experience can expect to earn an average total compensation of $60,000 based on 407 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Certified Financial Planner (CFP) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $79,000 based on 268 salaries. An experienced Certified Financial Planner (CFP) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $99,000 based on 210 salaries. A Certified Financial Planner (CFP) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $127,000 based on 73 salaries.
Pay Difference by Location
For those looking to make money, Certified Financial Planners in Boston enjoy an exceptional pay rate, 59 percent above the national average. Certified Financial Planners will also find cushy salaries in San Francisco (+31 percent), Dallas (+16 percent), Phoenix (+15 percent), and Cleveland (+6 percent). Louisville ranks last in the field for pay, reporting salaries 15 percent below the national average. Employers also pay below the national average in San Jose (14 percent lower) and Omaha (8 percent lower).
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