CFP Board's Board of Governors, Board of Professional Review and Board of Examiners held several meetings during CFP Board's 2006 Annual Meeting from August 1-5, 2006, including an open session of the Board of Governors that concluded the week of meetings.

At its session open to the public, the Board of Governors provided recognition to Neal McNeil, III, CFP®, the individual who took the number of CFP® certificants in the U.S. past the 50,000th mark, and grant awards were presented to Brett Danko, CFP®, David Hernandez of Bronx Community College, Jeri Ajayi of ColoradoSaves, Angela Harper, CFP® of the Dallas/Fort Worth FPA Chapter, Karen Kispert of Indian Valley Housing Corporation, Marlene D. Warner of Massachusetts Council on Compulsive Gambling, Vicki Van Horn, CFP® of the New Mexico Project for Financial Literacy, Mike Boyd, CFP® of NorthwoodsSaves, Todd Schafer of Pacific Community Ventures, Richard Conn of Partners in Housing, Saundra Davis of Sage Financial Solutions, and Tim Clegg, CFP® of Solutions CDC, Inc.

In addition to regular governance business, the Board invited five speakers to provide comments regarding the recently-released proposed revisions CFP Board’s ethical standards. CFP Board wishes to thank James Barnash, CFP®, Chair of the Board of Directors of the Financial Planning Association, Elaine Bedel, CFP®, Chair of the Board of Directors of Financial Planning Standards Board Ltd., Peggy Cabaniss, CFP®, Chair of the National Association of Personal Financial Advisors, Rick Linsday, President-Elect of the Society of Financial Service Professionals and Patricia Struck, President of the North American Securities Administrators Association, for their thoughtful comments.

The meeting closed with Chair-Elect Karen Schaeffer, CFP® presenting an award certificate to Barton C. Francis, CFP® for his service as Chair, a position he inherited several months early when the prior Chair became ill.

View the agenda from the August 5 open session of CFP Board's Board of Governors.

The Board members appreciated the chance to meet and interact with many of CFP Board's constituents and hope many will take time to provide suggestions for future meetings.

Read more about CFP Board's governing and subsidiary Boards below.

• Board of Governors
• Board of Professional Review
• Board of Examiners

Board of Governors

The Board of Governors is the policy-making and oversight body of CFP Board, the independent certifying organization that owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and certification marks and awards CFP® certification to individuals who complete CFP Board's initial and ongoing certification requirements.

Composition and Term of Office
The Board of Governors consists of no more than 19 members (excluding ex officio governors), with various experiences and backgrounds that represent stakeholder groups working in the public interest. Except for ex officio positions, each member of the Board serves a four-year term. A majority of Board of Governors members must be CFP® certificants.

Areas of Responsibility
Board members may be appointed to serve on committees and task forces at the discretion of the Board of Governors. Some Board members are also members of the subsidiary Board of Appeals. The Board of Appeals meets in person immediately preceding or following each full "in-person" Board meeting and by conference call as needed between Board meetings.

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Board of Professional Review

Composition and Terms of Office
The Board of Professional Review is composed of up to nine full members. Each member must be a CFP® certificant. Members serve a four-year term and must have a minimum of five years experience, with a preference given to those with 10 years experience.

Areas of Responsibility
Board of Professional Review members meet three times a year to conduct disciplinary hearings and to participate in business meetings to discuss issues relevant to CFP Board's disciplinary process. The Board of Professional Review may make recommendations to the Board of Governors on issues related to professional review and the disciplinary process.

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Board of Examiners

Composition and Terms of Office
This Board is composed of seven members and has typically included both financial planning practitioners and financial planning educators. All members of the Board of Examiners must be at least 18 years of age and the majority of the board must be CFP® certificants. Each member of the Board of Examiners normally serves a three-year term. A four-year term is possible if elected in the third year.

Areas of Responsibility
Board of Examiners meetings include discussion of relevant business issues, review of the upcoming CFP® Certification Examination and activities required to maintain and enhance the test question bank. The Board of Examiners provides recommendations and reports to the Board of Governors.

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