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Certification Updates

a Sound Financial Plan Will Help you Through a Turbulent Economy

Jan 25, 2008

CFP Board encourages consumers to consult with financial planners to develop long-term goals

WASHINGTON, DC, January 25, 2008 - With the current nerve-rattling volatility in the stock market and growing fears of a recession, it’s an understatement to say that many Americans are uncertain about the state of the U.S. economy. What is certain is that changes to the economy are raising questions and posing complex choices for individuals around the country. Certified Financial Planner Board of Standards, Inc. (CFP Board) encourages people to consult with CERTIFIED FINANCIAL PLANNER™ professionals for objective advice on their personal finances during these uncertain times.

“The Internet has made it incredibly easy for people to see short-term fluctuations in their investments,” said David G. Strege, CFP® of Des Moines, Iowa, 2008 Chair of CFP Board’s Board of Directors. “At times when there are broader concerns about the economy, it’s easy for short-term changes to seem bigger than they may in fact be. It’s important to keep focused on long-term goals to put those daily fluctuations in perspective.”

“Actions you take with your finances should be based on your personal goals – not what seems good at the moment or what your neighbor or co-worker suggests,” he said. “Having a financial plan allows you to take charge of your financial choices and avoid reactions that may be short-sighted.”

“No one approach will fit every situation,” said Marilyn Capelli Dimitroff, CFP® of Bloomfield Hills, Mich., 2008 Chair-elect of CFP Board’s Board of Directors. “Financial goals vary, based on factors such as a person’s age or tolerance for risk. But that’s just scratching the surface. Financial planners who hold CFP® certification have the training and experience to help people make financial decisions based on their personal life goals, taking into account all aspects of their financial situation.”

With more than 56,000 financial planners across the U.S. who have met CFP Board’s rigorous education, examination, experience and ethics requirements and attained CFP® certification, it’s easy to find a financial planning professional who can help establish objective and attainable financial goals. Consumers can locate CFP® professionals in their vicinity through CFP Board’s Web site at www.CFP.net/search.

It’s important to select a CFP® professional with whom you feel comfortable, one whose business style suits your financial planning needs. CFP Board has developed a Financial Planning Resource Kit that includes tips for finding a financial planner who meets your needs, including an interview questionnaire and checklist. To order a free kit, visit www.CFP.net/request.

“It can be scary to encounter words like ‘recession’ all over the news. Having a financial planner to turn to can help people get beyond the emotions and take an objective look at how current events may affect their situation,” said CFP® practitioner Dan Candura of Braintree, Mass. “When you feel secure that you have a good plan and a trusted professional to turn to for a big-picture view of your financial situation, you can take your thoughts away from your finances and put your focus back on living your life.”

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. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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CFP® - The Recognized Standard of Excellence in Personal Financial Planning

CONTACT:
Chris Wloszczyna, Director of Public Relations
CFP Board
P: 202-379-2252
E: media@CFPBoard.org

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