The number of certified financial planner professionals jumped 3.4% last year, with the number of women and racially and ethnically diverse professionals increasing by record numbers, according to the Certified Financial Planner Board of Standards.

There were 5,214 new CFP professionals in 2022, bringing the total to 95,137. Of the new professionals, women made up nearly 30% for a total of 1,519, and racially and ethnically diverse professionals grew by nearly 15% for a total of 763, the board said.

The board said that the 2022 class trended younger than previous years, with more than 55% under age 35.

“As we enter the 50th year of CFP certification, the talent pipeline for CFP professionals only grows stronger,” CFP Board CEO Kevin Keller said in a statement. “Increasing the number and diversity of CFP professionals is one of CFP Board’s priorities and we are especially excited to see the record-breaking numbers of women and racially and ethnically diverse professionals who earned their CFP certification in 2022.”

The board said racially and ethnically diverse professionals grew 8.5% to 8,715, which represents 2.5 times the overall growth rate of all professionals. Hispanics led the way with the highest enrollment in 2022. The breakdown is as follows:

• Hispanic CFP professionals grew by 10.3%. The number of Hispanic CFP professionals increased to 2,710 (2.9% of all CFP® professionals).
• The number of Black CFP professionals grew by 8.8%. There are now 1,766 Black CFP professionals (1.9% of all CFP® professionals).
• The number of Asian or Pacific Islander CFP professionals increased by 6.7%. There are now 3,883 Asian or Pacific Islander CFP professionals (4.1% of all CFP professionals).
• American Indian or Alaskan Native CFP professionals increased their numbers by 15.3% to 226 (0.2% of all CFP professionals).
• Multi-ethnic CFP professionals grew by 13% to 130 (0.1% of all CFP professionals).

Keller added that the board is focused on creating a financial planning profession that reflects the diversity of the people it serves. “To advance the profession and best serve the needs of the public, we need to continue to attract talent and insights from every background,” he said.

Last year, the board appointed Kamila Elliott as the first African American to serve as board chair. The one-year term ended Jan. 1.