The CFP Board is facing growing criticism from financial advisors after industry commentator Michael Kitces questioned whether the credentialing body is using member and provider fees to build an in-house continuing education (CE) business that directly competes with its own paid CE providers, according to reporting by InvestmentNews.
According to InvestmentNews, more than 107,000 CFP professionals in the U.S. must complete 30 hours of continuing education every two years to maintain their certification. The CFP Board requires approved CE sponsors to pay reporting fees of up to $1.25 per CE credit hour. Beginning next year, the Board will increase the CE requirement from 30 to 40 hours every two years.
Kitces, who offers CE programming through his platform and also serves as head of planning strategy at Focus Partners Wealth, raised the issue in a recent LinkedIn post. He argued that the CFP Board imposed and increased CE provider fees to generate revenue that now supports the Board's expansion into producing its own CE content. He pointed to the CFP Board's recent hiring of Ben Roberts as managing director of program development as evidence of that shift.
Kitces acknowledged that the CFP Board originally justified higher reporting fees by citing goals such as public awareness, workforce development, advisor diversity, research, and enforcement. He argued, however, that those funds now appear to support direct competition with the very CE providers the Board oversees.
In a statement to InvestmentNews, the CFP Board confirmed that it plans to continue developing its own CE programming alongside more than 1,200 third-party CE sponsors. The organization said it aims to improve services and technology that support program registration and maintenance, while continuing to work with the broader CE provider community to meet demand for continuing education.
The controversy comes amid broader cost increases for CFP professionals. In October 2025, the CFP Board raised its annual certification fee from $455 to $575, a 26 percent increase that it said would fund an annual advertising campaign. Based on current requirements, CE reporting fees alone could generate roughly $2 million per year if CFP professionals average 15 hours annually toward the biennial threshold.
InvestmentNews reports that several advisors echoed Kitces' concerns. Justin Stevens, president of O'Keefe Stevens Advisory, described the situation as a conflict of interest, questioning how the CFP Board can regulate CE quality while also competing in the same market. Kitces reported that the fees his CE business pays to the CFP Board increased from $13,000 to $90,000 over the past three years.
Other advisors warned that the CFP Board's position allows it to undercut independent providers by avoiding its own reporting fees. Gabriel Shahin, founder of Falcon Wealth Planning, said the structure could eliminate free CE offerings and reshape the economics of the CE market entirely.
Despite the criticism, advisors largely agreed that CFP certification remains the industry's most important credential, according to InvestmentNews. Stevens noted that the CFP Board's consumer awareness campaigns have delivered tangible benefits, even as he called for greater transparency around how member fees are spent.
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