The more sobering statistic from the CFP Board is that there are still only 1,493 Black CFPs today, and they make up less than 2% of all CFP professionals. “That’s just too few CFPs,” says Lazetta Rainey Braxton, a certified financial planner and co-founder and co-CEO of 2050 Wealth Partners.
Moreover, how many black CFP are there in the US?
13.4 percent of the U.S. population is African American, yet only five percent of financial advisors are Black. Within the fundraising profession, the percentage grows only slightly to 7.7 percent.
- UBS Wealth Management.
- Credit Suisse.
- Morgan Stanley Wealth Management.
- Bank of America Global Wealth & Investment Management.
- J.P. Morgan Private Bank.
- Goldman Sachs.
- Charles Schwab.
- Citi Private Bank.
Also to know is, who was the first black financial advisor?
LeCount R.
How many financial advisors are CFPs?
87,654 CFP
How many financial planners are CFPs?
69,500
What is considered high net worth?
A high–net–worth individual is a person who owns liquid assets valued at $1 million or more.
What is the difference between a wealth manager and a financial advisor?
Financial planners primarily assist with lifestyle planning. … Wealth managers, by contrast, provide services needed primarily by high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs), such as capital gains planning, estate planning, and risk management.
Can financial advisors make millions?
Top yearly base compensation at regional broker-dealers and wirehouses ranges from $140,000 for financial advisors at UBS whose 2017 production will be $400,000, to $1,105,000 for Raymond James & Associates financial advisors whose production this year hits $2 million, according to a new survey by the publication On …
How do I find a financial advisor?
As for where to find a financial advisor, there are several places to look:
- Use an online advisor search. …
- Ask friends, family or colleagues for recommendations. …
- The Garrett Planning Network. …
- The National Association of Personal Financial Advisors. …
- Robo advisors. …
- Search engines.