College administrators, professors and students nationwide say they are concerned about the controversy surrounding the CFP Boards disciplinary policies and the fact that the boards ongoing public awareness campaign, called Lets Make a Plan, has been driving Americans to its website where, until recently, hundreds of advisors were misrepresenting their compensation as fee-only.
As of 2012, the CFP Board registered close to 400 degree and certificate programs in financial planning nationwide. The number has been increasing rapidly as the CFP Boards influence expands among educators. These institutions and thousands of students nationwide cumulatively have invested untold millions of dollars in the rigorous two-year-plus process of studying for and taking the CFP examination.
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