Jeff Bowers, CFP® · Plan2Retire

Living Better Lives

How Certified Financial Planners help clients thrive – not just survive.

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Proving the Power of CFP®: Data-Driven Insights into Financial Success

 

Professionals wouldn’t pursue CFP® certification if they didn’t believe earning and maintaining the marks would translate to greater success. CFP Board has begun putting that proposition to the test, for the benefit of the profession as well as researchers and the public. In 2024, data collection began for the Financial Planning Longitudinal Study, which was set in motion in 2022 on the initiative of the Board of Directors.

This intellectually rigorous, peer-reviewed research — led by four academic experts — tracks the experiences of more than 4,000 people of all wealth levels over at least 10 years, including those who work with CFP® professionals, those who work with other advisors and those who act independently.

“We believe that having a holistic financial plan and working with a CFP® professional lead to better outcomes in terms of financial well-being and achieving life goals,” said Kevin Roth, Ph.D., CFP Board Managing Director, Research. This study seeks to test that statement as it quantifies the benefit.

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Not Just About Wealth — It’s About Well-Being

The CFP Board emphasizes that financial success is not simply measured by the number of vacation homes or digits in a bank account. Instead, it’s about achieving life goals, reducing stress, and improving financial well-being. The ongoing research led by the CFP Board aims to quantify how working with a CFP® professional impacts a person’s overall quality of life.

Evidence-Based Impact of CFP® Professionals

Baseline results from the Financial Planning Longitudinal Study reveal a clear trend: individuals who work with CFP® professionals experience better financial outcomes. These clients are more likely to have detailed financial plans, emergency funds, and legal documents like wills. Most importantly, they are more likely to report living comfortably and experiencing lower levels of financial stress compared to those working with other advisors or managing finances alone.

Measurable Differences in Client Preparedness

The study shows that 57% of those advised by CFP® professionals have a will, compared to only 49% of clients with other advisors and just 25% of non-advised individuals. CFP® clients also report stronger family dynamics, with fewer financial conflicts at home (42%) and greater confidence in handling financial setbacks like unemployment (24%). Their planning is more thorough, with 55% having retirement plans and 52% maintaining comprehensive investment strategies — significantly more than their non-CFP-advised counterparts.

Diversity, Inclusion, and Long-Term Vision

To ensure broad applicability, the CFP Board intentionally included a diverse group of Americans in its study, with participants aged 25 to 65 from various racial, ethnic, and income backgrounds. As this 10-year study progresses, it will follow participants through major life transitions — from launching careers to buying homes and raising families. This diversity and long-term scope ensure the results reflect the true impact of professional financial planning across the American population.

Bonus Insight: Building Confidence Through Financial Guidance

The early results of the Financial Planning Longitudinal Study confirm what many have long believed: working with a CFP® professional does more than manage money — it builds confidence. From having a will in place to feeling secure in the face of potential job loss, clients of CFP® professionals demonstrate stronger financial resilience and peace of mind. As the study continues, these insights will only deepen, reaffirming that professional guidance is not just a smart investment — it’s a pathway to a more secure, empowered future.

 It’s not just about numbers — it’s about empowering people to live better, more confident lives.
If we’re not already on this journey together, let’s change that.

Take the First Step  

 

 

Sincerely,

    Jeff Bowers, CFP®

    Plan2Retire

    https://plan2retire.com

    (240) 329-3333

 

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Jeff Bowers, CFP®

Plan2Retire

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Jeff Bowers, CFP®

Plan2Retire

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https://plan2retire.com

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jeff@plan2retire.com

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(240) 329-3333

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

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