A virtual course for would-be financial planning professionals, as well as advisors looking to sharpen their qualifications, is officially back amid popular demand.
Amplified Planning has opened registration for its 2025 Externship program, an eight-week virtual course aimed at preparing early-career professionals and career changers for a future in financial planning. Now in its sixth year, the program has seen more than 4,500 participants and is expected to reach record enrollment this summer.
The Externship runs from June 2 through August 1 and offers hands-on exposure to real-world planning practices, including the opportunity to observe client meetings and learn from over 50 financial professionals. Registration is open through May 23, with early sign-ups before April 15 eligible for special bonuses.
With more than 2,000 names already on the waitlist, interest in the 2025 cohort reflects growing concerns about advisor shortages across the industry. A mix of students, new advisors, and career changers are expected to participate – a demographic trend that organizers behind the program argue would support the industry's long-term need for talent.
One troubling projection from McKinsey predicts a shortage of roughly 100,000 advisors by 2034. Another warning from Cerulli projects a dropoff from retirements, with nearly 40 percent of advisors expected to grey out of the profession within the next decade.
“We often hear about a shortage of financial advisors, but the real challenge is providing the proper training to set them up for success, which ultimately leads to much higher retention,” Hannah Moore, founder of Amplified Planning and president of Guiding Wealth, said in a statement.
Participants who complete the Externship earn 500 experience hours accepted by the CFP Board and an additional 180 hours from the Association for Financial Counseling & Planning Education. The curriculum emphasizes practical exposure to the planning process and features tools from software providers including eMoney, Asset Map, Orion and Redtail.
According to the program, more than two-fifths of last year’s attendees were career changers – a group seen as essential to meeting future advisor demand. Northwestern Mutual nodded to that same trend in its latest recruitment drive, through which it's aiming to attract 5,000 new financial professionals in 2025.
Northwestern Mutual is one of the firms CFP Board lauded in January – along with Edward Jones, Fidelity, and LPL – for their leadership in helping advisors become new CFP certificants last year.
“With a projected advisor shortage, programs like [the Externship] are essential to preparing the next generation,” said Jason Gudenius, managing director of workforce at CFP Board. “CFP Board is proud to support this initiative and invest in the profession’s future.”
The program, which costs $397, is designed to complement existing internship placements as well. Firms can opt into a hybrid format that aligns intern duties with the Externship’s structure. Scholarship opportunities are also available.
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