The Certified Financial Planner Board of Standard’s board of directors approved a controversial 80% fee increase to support a national public awareness campaign to raise awareness about CFP certification.

The board announced Friday that the public awareness campaign will cost $9 million annually and will be funded through a combination of funds from the board’s reserves and an increase in fees. CFP Board is contributing $9.3 million over two years - $7 million in 2011 and $2.3 million in 2012. A monthly fee increase of $12 a month, or about $145 a year, which will be introduced in July, will pay the balance.

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