The number of Certified Financial Planner professionals worldwide reached a new high of 161,826 by the end of 2015, it has been revealed.

The Financial Planning Standards Board, based in Denver in the USA, has reported a 4,240 net increase in those holding the certification.

This was a 2.7 per cent increase over the previous year-end total of 157,586.

Noel Maye, FPSB chief executive, said: “The Financial Planning Standards Board is pleased to see that the message about the value of CFP certification, and of working with a CFP professional, is being heard around the world.

“The number of territories where CFP certification is offered has increased 50 per cent in the last 12 years, and the global number of CFP professionals has doubled in the same time period.

"Much of this growth can be attributed to the value the public places on CFP certification and the benefits firms experience from hiring CFP professionals.”

Of the 25 FPSB member organizations authorized to administer the CFP certification program, 19 (76%) reported a rise in the number of CFP professionals in their territory last year.

The five territories adding the most CFP professionals were:

1. The United States (2,388)

2. Brazil (563)

3. Japan (518)

4. Indonesia (222)

5. Malaysia (213)

These five territories, representing a spectrum of market types and CFP certification program maturities, account for 92 per cent of the global CFP professional growth, the FPSB said.

The United States, the longest-running CFP certification program, accounted for 56 per cent of global growth in 2015.

The Japan Association for Financial Planners exceeded 20,000 CFP professionals for the first time, while FPSB’s member organisations in Canada and China recorded modest drops in their number at 0.3 per cent and 0.8 per cent, respectively.

The top six territories in terms of rate of growth for CFP professionals in 2015 were:

1. Israel (56 per cent)

2. Brazil (32 per cent)

3. Ireland (28 per cent)

4. Indonesia (22 per cent)

5. Chinese Taipei (15 per cent)

6. Thailand (14 per cent).

Due to strong support for CFP certification among Brazil’s banks, FPSB’s Brazilian member organisation had the distinction of being second overall both in terms of the number of CFP professionals added and in the growth rate of CFP professionals last year.

This meant Brazil moved into 10th place overall for CFP professional population per territory with 2,304.

Asociación Colombiana de Planeación Financiera in Colombia certified the first CFP professionals in Colombia in 2015.

The FPSB network represents 26 non-profit Financial Planning standard-setting, certification and professional bodies in as many territories. FPSB’s member in Turkey joined as an Associate Member in 2014.

The Chartered Institute for Securities & Investment is the licencing authority for the CFPTM marks in the UK, through agreement with FPSB.