How Much You Could Make If You Earn a CRPC

Getting a chartered retirement planning counselor (CRPC) designation can increase a financial advisor’s earning potential without the need to invest a lot of time, energy and money. People with this financial professional certification report earning an average of 9% more after qualifying for the designation, according to the organization that provides training for CRPC applicants. One provider of salary data says CRPCs earn $73,000 per year on average nationwide. Data from another source indicates actual earnings can vary widely by state and job title. Some employers require newly hired financial professionals to already have or to obtain a CRPC as a condition of keeping their jobs.

SmartAsset’s Advisor Marketing Platform can help you add new clients at your desired pace. Sign up for a free demo today.

CRPC Basics

The CRPC is a professional financial certification that focuses on the needs of people planning for their retirement. The College for Financial Planning provides training and oversees the designation. CRPCs study and provide advice on retirement income, Social Security, paying for healthcare, managing taxes and estate planning as well as coping with the emotional aspects of leaving the workforce.

The CRPC has relaxed requirements when compared with advanced certifications such as the Certified Financial Planner™ (CFP®). There are no educational or work experience prerequisites to undertake the training. The coursework to prepare for the exam is likely to consume 90 to 135 hours and the cost is around $1,375, according to Kaplan, the parent company of the College for Financial Planning. ¹

Client Acquisition Simplified: For RIAs

• Ideal for RIAs looking to scale.
• Validated referrals to help build your pipeline efficiently.
• Save time + optimize your close rate with high-touch, pre-built campaigns.

CFP®, CEO

Joe Anderson

Pure Financial Advisors

We have seen a remarkable return on investment and comparatively low client acquisition costs even as we’ve multiplied our spend over the years.

Pure Financial Advisors reports $1B in new AUM from SmartAsset investor referrals.

Target New Clients This Year

I am a registered fiduciary*

Book Your Free DemoNot sure? Learn more about AMP.

CRPC Earnings

Kaplan says financial professionals experience an average earnings increase of 9% after getting a CRPC. ² Payscale, a compensation software vendor that collects salary data, says nationwide earnings for people with the CRPC designation average $73,000. ³ Behind these averages lies a wide variation in earnings based on key traits including location and job title.

ZipRecruiter, a job search site, gathered salary data for CPRC holders and found significantly lower earnings averaging $32,637. ⁴ It also calculated averaged by state. Washington led states where CRPCs earned the most, with $36,965. Florida came in last with $24,389.

Here’s the full ZipRecruiter state-by-state ranking:

ZipRecruiter’s reported salary figures may appear lower than those from PayScale in part because its data set includes some non-financial job postings that use the initials “CRPC.” These listings include lower-paying roles, such as certain healthcare positions, which can skew overall results downward.

A review of financial industry job postings that specifically required or preferred a CRPC designation showed a wide range of roles and compensation levels. Job titles ranged from administrative assistant to investment manager, with advertised salaries starting around $40,000 for an administrative associate role outside Detroit and reaching up to $200,000 for a senior financial advisor position in Philadelphia.

Some postings also noted that candidates could qualify with a CRPC or a more advanced credential, such as the CFP®, which generally requires more extensive education and investment.

Become a Top Financial Advisor

Referrals and market gains aren't enough. Grow with the all-in-one advisor marketing platform.

Get Started

Bottom Line

The CRPC designation is often pursued by financial professionals early in their careers. It does not require prior education or work experience to begin coursework and is generally more affordable than many other industry credentials. Earning a CRPC can be associated with higher compensation, with some estimates suggesting earnings may be about 9% higher than for peers without the designation. Employers in the financial services industry may also list the CRPC as a preferred or required credential for certain roles. Nationwide, average annual earnings for professionals holding the designation are estimated at approximately $73,000, according to available data.

Tips for Growing Your Advisory Business

• If you want to grow your client base, you may consider working with an online lead-generation platform. SmartAsset AMP (Advisor Marketing Platform) is our holistic marketing service that financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• Search engine optimization (SEO) can help you become more visible in local search results, which can lead to more clients. The catch is that SEO can take time to produce results. Here’s a guide in financial advisor SEO to help fine-tune your marketing strategy.

Photo credit: ©iStockPhoto/Michele Pevide, ©iStockPhoto/kate_sept2004