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CFP Board News - November 2007


CFP BOARD JOINS FPSB TO PROMOTE GLOBAL PROFESSIONAL STANDARDS FOR FINANCIAL PLANNING

CFP Board has entered into a membership agreement with Financial Planning Standards Board, Ltd. (FPSB), the international organization that owns the CFP marks outside the U.S. As a member of FPSB, CFP Board will work with FPSB and its member organizations to align educational, examination, experience and ethical standards for financial planning professionals who hold CFP certification around the world. CFP Board’s membership in FPSB will promote worldwide professional standards in financial planning for the benefit of consumers who seek financial planning services.

CFP Board’s membership in FPSB includes participation on the FPSB Council, as well as committees and international working groups involved with financial planning certification and standards activities. The FPSB Council acts as an advisory and consulting body to the FPSB Board of Directors and is made up of delegations of up to two representatives from each of the organizational members of FPSB.

CFP Board will retain ownership of the CFP® trademarks in the U.S. and continue its independent operation of the CFP® certification program in the U.S.

"CFP Board has long supported the development of the CFP certification program around the world," said Kevin R. Keller, CEO of CFP Board. "Since 2004, when CFP Board transferred to FPSB ownership of the CFP marks outside the U.S., FPSB and its affiliates have made great strides in promoting awareness of CFP certification and the financial planning profession to consumers around the world. We look forward to working closely with FPSB."

CFP Board and FPSB, as the owners of the various CFP trademarks in their respective territories, have a common interest in ensuring that those trademarks continue to represent consistently high educational, examination, experience and ethical standards for financial planning professionals. CFP Board, established in 1985, currently authorizes more than 56,000 individuals in the U.S. to use the CFP® certification marks. FPSB’s 20 member organizations in as many territories around the world collectively authorize more than 52,000 individuals to use the CFP marks in their territories.

"We welcome CFP Board as a member of FPSB at an exciting time for the global financial planning profession," said Noel Maye, CEO of FPSB. "Interest in the CFP certification program continues to spread to new territories, and public awareness of the value of financial planning has never been greater. CFP Board, with more than 20 years administering the CFP® certification program in the U.S., brings invaluable experience to the FPSB Council."

FPSB manages, develops and operates certification, education and related programs for its member organizations so that they may benefit and protect the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB’s commitment to excellence is represented by the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP (with flame logo). For more about FPSB, visit www.fpsb.org.

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CAROL LEE ROBERTS, CFP® NAMED AS CFP BOARD’S MANAGING DIRECTOR OF EXAMINATIONS & EDUCATION

CFP Board has named Carol Lee Roberts, CFP® as its new Managing Director of Examinations and Education. Ms. Roberts will direct the examination and education components of CFP® certification. She brings to CFP Board a professional background that encompasses both the practice of financial planning and the administration of financial planning education programs.

After working at Merrill Lynch for more than 16 years in a variety of capacities, Ms. Roberts served the past six years at DePaul University, where she acted as Program Manger of its Financial Planning Certificate Program and a Director of DePaul’s Office of Continuing and Professional Education. At DePaul, she helped develop the Financial Planning Certificate program into one of the most successful programs offered through the university’s Office of Continuing and Professional Education, for which she also supervised marketing, new program development, corporate sales and web services for all continuing and professional education programs.

In her new role with CFP Board, Ms. Roberts will provide oversight to CFP Board's development of the rigorous CFP® Certification Examination and to the development and support of the more than 300 financial planning education programs in the U.S. that have registered with CFP Board to prepare financial planners for CFP® certification.

"We are very pleased to have someone with Carol Lee’s accomplishments and unique set of credentials joining CFP Board’s leadership team," said Kevin R. Keller, CAE, Chief Executive Officer of CFP Board. "Carol Lee’s expertise in financial planning education, along with her background as a CFP® professional, will be a tremendous asset to CFP Board as it pursues its mission to help the public benefit from competent and ethical financial planning."

Ms. Roberts is a CERTIFIED FINANCIAL PLANNER™ professional who has been an active member of the professional financial planning community, including involvement with the Financial Planning Association of Illinois, where she currently serves as its Director of Programming. She has provided frequent support to CFP Board, including participation on the Education Task Force CFP Board assembled in 2006. She is also a Certified Financial Divorce Practitioner and holds a Bachelor of Arts in Public Administration from Augustana College in Rock Island, Illinois and a Master of Arts in Applied Professional Studies with a focus in Financial Planning from DePaul.

"I am honored to be joining CFP Board’s leadership team at such an auspicious time in its history," said Ms. Roberts. "As a CERTIFIED FINANCIAL PLANNER™ professional, I come to this position with a full appreciation of the special responsibility CFP® mark holders have to the public. Now more than ever, consumers must possess high confidence in the competence of their financial advisors and the standards by which they are governed."

View a profile of Carol Lee Roberts, CFP® in the November 2007 edition of Financial Advisor magazine.

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CFP BOARD SPONSORS OUTSTANDING FINANCIAL PLANNING PAPER AWARD AT AFS MEETING

Chris Robinson, Ph.D., CA, CFP®, Associate Professor of Finance, and Nabil Tahani, Ph.D., Assistant Professor of Finance, both of the Atkinson School of Administrative Studies at York University in Ontario, received the CFP Board Outstanding Financial Planning Paper Award at the 21st Annual Meeting of the Academy of Financial Services held October 16-17, 2007 in Orlando, Fla.

CFP Board sponsors several paper awards each year as a tangible way of encouraging financial planning research in the academic community. Dr. Robinson and Dr. Tahani received the $1,000 award for their paper titled "Sustainable Retirement Income for the Socialite, the Gardener and the Uninsured." In this study, Robinson and Tahani address the probability of retirement income sustainability using three variables: rate of return, date of death and consumption. Previous research on the same topic treated the first two factors as variable, while treating consumption as a constant real value. According to Dr. Robinson and Dr. Tahani, "The difference in shortfall probabilities or risk of ruin between the variable cases and the fixed consumption case is significant, and so the planner needs to take this into account."

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EMPLOYMENT OPPORTUNITIES AT CFP BOARD’S WASHINGTON HEADQUARTERS

As CFP Board prepares to enter its new office space in Washington, D.C., opportunities remain for talented individuals to take up rewarding roles in CFP Board’s operations. CFP Board’s transition to the nation’s capital offers a unique chance to experience a start-up atmosphere while furthering the mission of a well-established organization. If you know someone who may be interested in assisting CFP Board’s work to help the American public benefit from competent and ethical financial planning, please direct them to the employment opportunities listed on CFP Board’s Web site at: www.CFP.net/aboutus/jobs.asp

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