More CFPs Needed but Board ‘Won’t Lower Standards’: CFP Board’s Keller | ThinkAdvisor by James J. Green
There are 70,598 CFPs, “as of today,” said CFP Board of Standards CEO Kevin Keller in an interview Nov. 6 during the Schwab Impact conference in Denver, but that number “is not enough” to meet the demand for professional advice.
Picking up on the buzz in the industry around digital advice providers, or robo-advisors, Keller said that such advice platforms could be a “way to get good advice,” and that the CFP Board’s own board will discuss robo-advisors at its next meeting since “we need to get our arms around” the trend. However, he pledged that the Board “won’t lower standards” to increase the number of CFPs.