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CFP Board News - February 2008


CFP BOARD ADOPTS REVISED MISSION STATEMENT

A revised mission statement focusing on CFP Board’s responsibility to the public was adopted at the January 2008 meeting of CFP Board’s Board of Directors:

The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning.
To achieve this mission, CFP Board has established several Core Objectives:
Credentialing: Provide the most rigorous financial planning credentialing process that is valid, reliable, and legally defensible.

Education: Establish and enforce educational standards for enhancing the knowledge, skills, and abilities of current and potential CFP® certificants.

Enforcement: Protect the public’s interest through rigorous, ongoing enforcement of CFP Board’s Standards of Professional Conduct.

Communication: Build the CFP® certification brand as the recognized standard of excellence in personal financial planning; promote its understanding and acceptance among the public and all other stakeholders.

Advocacy: Influence policy to benefit the public and increase access for all to competent and ethical financial planning.

Sustainability: Strengthen CFP Board’s capacity to achieve its mission and serve all stakeholders in a timely, accurate and professional manner.

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PRESIDENT BUSH NAMES CFP BOARD REPRESENTATIVE TO ADVISORY COUNCIL ON FINANCIAL LITERACY

On January 22, 2008, Theodore Daniels, President and CEO of the Society for Financial Education and Professional Development and member of CFP Board's Board of Directors, was appointed by President George W. Bush to the President's Advisory Council on Financial Literacy, a newly-created committee charged with prescribing recommendations on better educating the public on matters related to their finances and their future. President Bush announced an executive order to establish the Council within the U.S. Department of Treasury “to help keep America competitive and assist the American people in understanding and addressing financial matters.”

Charles Schwab, chairman and CEO of Charles Schwab & Company, Inc. was appointed as Chair of the 19-member panel, which also includes Mary Schapiro of FINRA, Robert Duvall of the National Council on Economic Education and Ted Beck of the National Endowment for Financial Education. The Council will advise President Bush and the Treasury Department on goals for improving financial education efforts to youth in school and adults in the workplace; promote effective access to financial services; establish sound measures of national financial literacy; conduct research on the extent of financial knowledge among individuals; and strengthen and coordinate public and private sector financial education programs.

For more on the President’s Advisory Council on Financial Literacy, visit the Web site of the United States Department of the Treasury.

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CFP BOARD ANNOUNCES PARTNERSHIP WITH BANKRATE.COM

CFP Board is pleased to announce a new partnership with Bankrate.com that offers an exciting new benefit for CFP® professionals. Bankrate.com will offer the public the ability to search for CERTIFIED FINANCIAL PLANNER™ professionals through the Retirement section of their site. These listings are anticipated to be available in March 2008 and will be made up exclusively of CFP® certificants who have indicated to CFP Board that they currently practice financial planning.

Bankrate.com is the Internet’s leading source of personal finance information — ranging from lending and savings rates to the latest retirement strategies, news and advice. Their audience is affluent and highly educated; their average income nationwide is $94,518, and they are almost twice as likely to have portfolios of $500,000+ as the national average. The searchable database on Bankrate.com has clear benefits for the public and CFP® professionals: it will allow the public that uses Bankrate.com to find financial planners who have met CFP Board’s standards of competence and ethics, and it will help connect you with affluent individuals in your area who are interested in working with a financial planner.

In coming weeks, CFP® professionals will receive an e-mail with instructions for verifying whether their current record with CFP Board contains the information necessary to be included on the Bankrate.com listings. The e-mail will also provide instructions for opting out of this service.

CFP Board continues to look for new ways to provide added value to those who hold CFP® certification and the public that seeks competent and ethical financial planning services. If you have any questions about CFP Board’s partnership with Bankrate.com, please contact us at 800-487-1497 or mail@CFPBoard.org.

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2008 FINANCIAL PLANNING GRANTS PROGRAM

Information about CFP Board’s 2008 Financial Planning Grants program is now online. The program continues CFP Board’s efforts to provide grant funding to innovative and sustainable programs that promote an understanding of the benefits of financial planning and provide underserved populations with access to competent and ethical financial planning. If you are aware of or have thought about starting such a program, we invite you to apply for a grant from CFP Board. The application deadline is April 30, 2008. [Application deadline has been extended to May 15, 2008.] Read more about CFP Board’s 2008 Financial Planning Grants Program.

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