Making Room for Women in the Financial Planning Profession

About CFP Board


Event Details - Making Room for Women in the Financial Planning Profession

As part of its Women’s Initiative (WIN), CFP Board released a comprehensive and groundbreaking study on the “feminine famine” in the financial planning profession during a special event in New York City on April 22, 2014.  The research examines the attitudes and perceptions of key groups with a stake in the gender composition of the financial planning profession, including CFP® professionals and other financial advisors, students, educators and representatives of financial services firms.

Scroll down to view videos of the presentations delivered at the event, and information about the speakers. (If you have trouble viewing any of these videos, please see alternate video formats posted here.)

Download the White Paper (PDF, 1MB)
Tell us if you want to get involved with WIN

Welcome and Introductory Remarks

Kevin Keller, CEO of CFP Board, welcomes guests to the WIN event. Introductory remarks are by Ray Ferrara, CFP®, Chairman of the Board of Directors, and Tom Nally, President, TD Ameritrade Institutional.

About the Women's Initiative

Nancy Kistner, CFP®, Chair of the WIN Advisory Panel and Chair Emerita, Board of Directors, CFP Board, talks about the origins of WIN.

Presentation of WIN Research

Peter Fondulas, President of Fondulas Strategic Research, discusses the qualitative and quantitative study conducted to identify reasons for female underrepresentation in financial planning profession.
Fondulas Research – Summary of Key Findings (PDF, 1.5MB)

Presentation of WIN White Paper Findings and Recommendations

Marilyn Mohrman-Gillis, Managing Director of Public Policy and Communications of CFP Board, and Eleanor Blayney, CFP®, Consumer Advocate and member of the WIN Advisory Panel, discuss findings from the WIN White Paper.
Presentation – Findings and Recommendations (PDF, 386KB)

Keynote Address and Closing Remarks

Elda Macias, Vice President, Retirement and Segment Marketing, Ameriprise, introduces Kathleen Kathleen McQuiggan, Senior Vice President, Pax World Management. Kathleen talks about her experience in the financial services industry and the importance of investing in women to growth and competitiveness. Kevin Keller closes the event and invites the event participants to help CFP Board in making the financial planning profession a place where women can flourish.

Get Involved

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WIN Discussion Forum

Post your comments and discuss topics related to CFP Board's Women's Initiative.

Speakers and Bios:

  • Kevin Keller, CFP Board CEO

    Kevin R. Keller is Chief Executive Officer of Certified Financial Planner Board of Standards, Inc. (CFP Board).  Under his leadership, in support of CFP Board’s mission to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning, CFP Board is pursuing ambitious goals related to four overarching outcomes: increase public Awareness of CFP® professionals; achieve Growth in the number of CFP® professionals; secure Recognition and Regulation of financial planning as a distinct profession; and further CFP Board’s position as the Authority in financial planning.

    Since Mr. Keller joined CFP Board in May of 2007, CFP Board has:

    • Grown the number of CFP® professionals in the U.S. by 25% to more than 69,000, even while strengthening the CFP® certification requirements with the addition of new bachelor’s degree and capstone course requirements.
    • Launched its first major public awareness campaign to increase awareness of CFP® professionals, funded at about $9 million a year, which has generated consistent and significant signs of positive momentum in consumer awareness of CFP® certification.
    • Secured its reputation as a strong advocate for consumer and investor protection by implementing a fiduciary level of accountability on those individuals who use the CFP® mark in the delivery of financial planning services and working extensively with individuals, as well as firms that employ those individuals, to ensure compliance with those standards – the highest in financial planning.
    • Relocated to Washington, DC and assumed a leadership role in advancing public policy positions related to financial planning that benefit the public, working in concert with other prominent financial planning organizations, and in collaboration with industry and investor protection organizations.
    • Reengineered its disciplinary and enforcement process to increase transparency and accountability by including “public” non-certificant volunteers on hearing panels, with the objective of assuring safeguards for the public and a fair process for certificants.
    • Released the Financial Planning Competency Handbook, published by John Wiley & Sons, the first authoritative and seminal work that outlines the knowledge, actions and contexts associated with financial planning.
    • Transitioned the comprehensive CFP® Certification Examination to a computer-based testing format.

    Mr. Keller joined CFP Board after serving 16 years with the Association for Financial Professionals (AFP), a membership organization which provides products, education and training for treasury and corporate finance. At AFP, he held the position of senior vice president and chief operating officer for the prior seven years and managed programs and services for the 16,000-member organization. He led the organization's strategic planning process and enhanced and grew the Certified Treasury Professional credential.

    Mr. Keller has held senior staff positions at several associations and earned the Certified Association Executive (CAE) credential in 2000. He holds a B.S. in agriculture and an M.S., both from Ohio State University.

  • Ray Ferrara, CFP®, Chairman of the Board of Directors, CFP Board
    Ray FerraraRay is President and CEO of ProVise Management Group, LLC, located in Clearwater, Florida, a full-service financial planning firm which is a Registered Investment Advisor with the Securities and Exchange Commission. ProVise is one of the largest financial planning firms in the country, and manages about $630 million as of December, 2009. Additionally, Ray is a Registered Principal with FINRA, a Certified Financial Planner licensee, and a Certified Senior Advisor.  He serves on the Board of Directors for the CFP Board of Standards, Inc., and as a Board observer for National Financial Partners, Inc. Ray served on the Board of Directors for the Financial Planning Association (FPA), and National Advisor’s Trust Company (NATC).  Ray has spoken to many public and civic organizations and business conferences throughout the United States.  He has been quoted in numerous publications, including USA Today, New York Times, Wall Street Journal, Barron’s, St. Petersburg Times, and Business Week. He has appeared on radio and television, speaking in his easily understood language with his relaxed, informal approach. For over ten years, he hosted radio’s "Talking Money™." He has authored articles on numerous financial topics. Ray was featured as one of America’s best financial planners in the book Secrets of the Wealth Makers, and was the first recipient of the Lifetime Achievement Award from the Financial Planning Association of Tampa Bay.
  • Tom Nally, President, TD Ameritrade Institutional

    Tom Nally is responsible for all business functions at TD Ameritrade Institutional, the Company's business unit supporting independent registered investment advisors (RIAs). In this role, he oversees the independent RIA segment, as well as the corporate services business. He also serves as a member of the Company's senior operating committee (SOC), which shapes the strategic focus of the organization.

    Nally, who has been with the Company since 1994, most recently had responsibility for TD Ameritrade Institutional Sales. Through a consultative approach, Nally and his team developed new advisor relationships and delivered a value added practice management solution to assist RIAs in achieving their strategic business objectives.

    Over his tenure, he has held multiple management positions in various key segments of the business, including responsibility for trading, fixed income, advisor relations, client service, advisor technology, account services and operations for more than 4,500 independent RIAs who custody assets with TD Ameritrade Institutional.

    Nally graduated from Rider University with a degree in Finance and completed the Securities Industry Institute program, sponsored by the Securities Industry and Financial Markets Association, at the Wharton School of Business. He was recognized as one of Investment Advisor Magazine's top 25 most influential people for 2012. In 2013, he attended the Executive Education Program at the Stanford Graduate School of Business. Nally currently holds Series 7, 8, 24 and 63 licenses.

  • Nancy Kistner, CFP®, Chair of the WIN Advisory Panel; Chair Emerita, Board of Directors, CFP Board

    Nancy KistnerNancy serves as Chair of CFP Board’s Women’s Initiative, WIN, whose mission is to promote, develop and grow the base of women CFP® professionals.

    Nancy A. Kistner, CFP® is Managing Director and Wealth Planning Solutions Market Director at U.S. Trust, Bank of America Private Wealth Management. In this role, Nancy leads a team of wealth strategists in the New York market and works with high net worth clients in addressing a wide range of financial, trust and estate and tax planning issues.  She and her team provide customized strategies for managing clients’ balance sheets, advise on cash flow and lifestyle planning, income, gift, trust and estate tax planning as well as wealth transfer and intergenerational planning and help structure liquidity events and philanthropic giving plans in addition to advising on equity compensation, including concentrated stock positions and maximizing the benefits of stock options, deferred compensation and restricted stock. 

    Nancy joined U. S. Trust in 2008.  Prior to that, she served as Director and Head of Financial Planning in the Citi Private Bank where she managed a team of financial planning professionals and delivered complex financial, trust and estate planning advice to high net worth individuals.  She also served as Head of Financial Planning Training at MetLife Financial Services prior to serving in her role at Citi.  In prior roles, she gained experience in investment portfolio management, insurance and banking.  Nancy received a B.A. in Economics from the University of California, Los Angeles (UCLA).

    In addition to Nancy’s service on the CFP Board as its Chair of WIN, 2013 Chair of the Board and serving as a 2008-2013 Board Director, she serves on the Board of The Coalition for Debtor Education in New York City through Fordham Law School whose mission is to assist consumers, with a particular emphasis on vulnerable populations, in understanding and improving their ability to manage their financial affairs. Nancy also volunteers her time serving as a bill payer for seniors through the AARP Foundation’s Bill Payer Program which is managed by the Council of Senior Centers and Services in New York City and promotes independence for older adults who need help paying bills on time. She also serves on the Board of New York City LEAD (Leadership, Education, Advocacy and Development) for Women which is an associate affinity group dedicated to promoting professional women’s development to help grow, attract and retain successful women throughout Bank of America.

  • Peter Fondulas, President of Fondulas Strategic Research

    Peter brings over 25 years of experience as a senior market research consultant and practitioner. He has a strong background in quantitative research methods, including advanced design and analytic techniques. He is also an accomplished moderator and in-depth interviewer.

    Peter specializes in research for a number of industries, including financial services, digital and mobile technology, media, entertainment, and sports. A sampling of his clients includes Certified Financial Planner Board of Standards, American Express, Dow Jones, Capital One, Liberty Mutual, AT&T, Time Inc., Verizon, DIRECTV, NBC, National Geographic, and Ticketmaster.

    Peter also specializes in a number of business and marketing areas, from brand awareness and image to new-product testing, consumer purchase patterns and trends, customer segmentation, and editorial and design assessments. He has led numerous ongoing customer satisfaction and loyalty tracking studies, among both consumers and businesses.

    Before launching his own consultancy, Peter was Executive Vice President for The Taylor Research & Consulting Group, a company he helped found in 1987. He began his research career with Louis Harris and Associates as a report and questionnaire editor. He earned an M.A. in English literature from New York University.

  • Eleanor Blayney, CFP®, Consumer Advocate, CFP Board
    Eleanor Blayney is the Consumer Advocate for the Certified  Financial Planner Board of Standards, reaching out to consumers to help them understand how financial planning and CFP® professionals can improve their lives.

    The author of Women’s Worth, a book about how women can make the most of their financial lives, Eleanor worked with individual clients for more than twenty years to help them articulate and plan for their financial goals. As the only woman partner in a four‐partner firm,

    Eleanor drew upon her female intuition, communication strengths, and facility for sustaining relationships to help build a wealth management firm that has served hundreds of clients in the Washington, D.C. metro area and around the country.

    Eleanor holds a number of degrees and designations. She earned an MA in English Literature from the University of Cambridge UK and an MBA from the University of Chicago. She is a CERTIFIED FINANCIAL PLANNER™ professional.

    Well‐known as a conference speaker and frequently quoted in the news media, Eleanor has played a pioneering role in building and shaping the financial planning profession. She has taught for the College of Financial Planning, and has helped to develop practice standards and ethical requirements for CFP® professionals in the U.S.

    Read Let's Talk Planning, a blog by Eleanor, or follow her on Twitter at @EleanorBlayney.

  • Marilyn Mohrman-Gillis, Managing Director, Public Policy and Communications, CFP Board
    Marilyn Mohrman-Gillis has been Managing Director of Public Policy &Communications since July 2008. 

    She develops and oversees CFP Board’s advocacy initiatives to ensure the visibility and credibility of the CFP® certification with legislators, regulators and other policy makers. During her 30-year career in the nation’s capital, Ms. Mohrman-Gillis has built a broad portfolio of advocacy on behalf of the American public for and with regulators and legislators. As Director of Policy and Federal Relations with the National League of Cities (NLC), Ms. Mohrman-Gillis directed policy development, federal advocacy, and grassroots mobilization for the nation’s leading association representing municipalities across the country. She also directed the NLC’s advocacy before Congress and federal agencies on a number of issues, including extensive work with tax and finance policies. 

    As Vice President for Policy and Legal Affairs and General Counsel for the Association of Public Television Stations, Ms. Mohrman-Gillis had extensive legal and regulatory policy responsibilities, supplemented with a key role in strategic planning for the association, its board and member public television stations. As a supervising attorney in the Federal Communications Commission’s Mass Media Bureau, she managed staff attorneys who were responsible for the development of broadcast and cable rules. She began her career as a litigator in the Washington, DC, office of the law firm Steptoe & Johnson. She has a BA in Psychology from St. Mary’s College, Notre Dame, an MSW from Catholic University and a JD from the Columbus School of Law, Catholic University.  She previously served on the Board of Governors for the District of Columbia Bar and was Chair of the Board for the Legal Counsel for the Elderly.
  • Kathleen McQuiggan, Senior Vice President, Pax World Management
    Kathleen McQuiggan is Senior Vice President of Global Women's Strategies for Pax World Management LLC. In this senior management role, Kathleen is responsible for the firm’s initiatives related to gender diversity and women’s empowerment including its efforts to advance gender equality as an investment concept. In addition, she leads Pax World’s Women and Wealth Practice Management initiative focused on helping financial advisors build their practices and enhance the services they provide to women investors.

    Kathleen has more than 20 years of experience in the financial services industry with much of that time focused on increasing the industry’s understanding of and responsiveness to the financial planning needs of women. Prior to her current role, Kathleen was Senior Adviser to Pax World for Gender Diversity Initiatives while serving as President of Catalina Leadership, a strategic advisory organization she launched that focused on investing in women. Prior to working with Pax World, she was a Vice President at Goldman Sachs for 13 years, where she served as an Institutional Equity Franchise salesperson in Chicago and Boston.

    Kathleen earned a Bachelor of Arts degree in business administration with a concentration in finance from Towson University. An advocate for women’s issues in business and the community, she currently serves on the YWCA Boston Board of Directors, is Co-President of the 85 Broads Boston Chapter and is a member of the advisory board of Wealthrive.

    Kathleen McQuiggan is a registered representative of ALPS Distributors, Inc.

    Presentation Resources
    Kathleen shares the following videos:
  • Elda Macias, Vice President, Retirement and Segment Marketing, Ameriprise

    Elda Macias is Vice President of Retirement and Segment Marketing at Ameriprise Financial, Inc. Elda is responsible for leading the Ameriprise retirement thought leadership strategy to increase visibility, awareness and credibility among key, high-potential demographic markets. Elda also assists in the creation of educational programs, business and sales strategies to help advisors leverage their financial knowledge and engage more effectively with a variety of audiences including women, small business owners and the LGBT (lesbian, gay, bisexual and transgender) community.

    An advocate of women’s financial and retirement needs, Elda has been quoted in The Wall Street Journal, among other publications. Elda has more than 17 years of marketing experience and has held positions at the universities of Minnesota and Texas, The Walt Disney Company and Wells Fargo & Company.

    She’s an active volunteer in the Minnesota Hispanic community, and has been recognized by several organizations. The Minneapolis/St. Paul Business Journal named her to their 2011 “40 Under Forty” list of honorees. In 2010, she received the “Mano Amigo” of the Year Award from the Latino Economic Development Center, and in 2009, she was named to the Hispanic Chamber of Commerce of Minnesota’s list of “25 on the Rise.” Elda currently serves on the board of directors for WomenVenture.

    Elda earned a Bachelor of Arts in Communications from the University of Texas at El Paso, and a Masters in Business Administration from the University of Minnesota.

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WIN Discussion Forum

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WIN Fact Sheet

Learn more about the research findings and calls to action.

View the fact sheet