I've been a CFP for 20 years. If it ever won over a potential client, I was not informed. I knew CFP would fall in stature the moment Merrill Lynch decided that all trainees had to complete CFP. That was probably around 2005.
It's relevant because back then "mother" Merrill historically trained over 1/2 of all financial advisors who were able to make a long term career out of it. No idea what that figure is now, but it's extremely high still. A better screening question who absolutely be "did you ever experience Merrill Lynch's training program, and did you pass?" because most industry experts would agree that is has always been the gold standard to separate the wheat from the chaff. Clearly there are other good training programs, just not with nearly the volume of graduates (or candidates).
It's relevant because back then "mother" Merrill historically trained over 1/2 of all financial advisors who were able to make a long term career out of it. No idea what that figure is now, but it's extremely high still. A better screening question who absolutely be "did you ever experience Merrill Lynch's training program, and did you pass?" because most industry experts would agree that is has always been the gold standard to separate the wheat from the chaff. Clearly there are other good training programs, just not with nearly the volume of graduates (or candidates).