The FPA's support of the CFP® [professional] designation as the standard for financial planners can only help the profession, said [FPA President Paul] Auslander, who is chairman and CEO of American Financial Advisors in Orlando.

"While our focus is on building a profession by making CFP® [professionals] synonymous with financial planners, we value all professionals in our association who support the work of CFP® [professionals] or who aspire to become a CFP® [professional]," he said.

In another response to Financial Planning, the CFP Board's CEO, Kevin Keller, affirmed his group's relationship with the FPA. As he put it, "Certified Financial Planner Board of Standards considers itself a partner with the Financial Planning Association and fully supports its 'one profession, one designation' position."

Keller went on to downplay the idea that CFP® [professionals] just work on behalf of the affluent.

"A recent study by the Aite Group found that in solo practices led by a CFP® professional, they serve an 'equal percentage of mass-retail clients as solo practices without a CFP® professional," he said. "And team-based practices 'that have a CFP® professional work with a larger percentage of mass-retail clients compared to team-based practices without a CFP® professional.'" Read more >

Bank Investment Consultante
Donald Jay Korn
August 31, 2012