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CFP Board

March 26, 2014

In This Issue:

CFP Board Announces Suite of Academic Initiatives to Advance the Financial Planning Profession

CFP Board recently announced a suite of initiatives that will bolster the academic underpinnings of financial planning as a profession; provide new opportunities for research and teaching; and enhance the quality of financial advice to the public. The initiatives include a new study of a center for financial planning, a new Ph.D. program, and an academic journal collaboration.

“As the standard-setting body for the CFP® certification and the authority on financial planning, CFP Board is committed to moving the needle in providing to those in academia – from both within and beyond our existing CFP Board-registered programs – a home to conduct research and teach financial planning to a new generation of CFP® professionals,” said Board of Directors Chair V. Raymond Ferrara, CFP®. “These new efforts reflect the adoption of financial planning as a recognized discipline within academia as well as a growing profession within the financial services industry.

All of these efforts, Ferrara noted, are consistent with CFP Board’s mission to benefit the public by granting the CFP® certification and upholding it as the standard for personal financial planning.

Announced during the Board of Directors’ periodic update for CFP Board’s nearly 70,000 CFP® professionals, the suite of initiatives include:

  1. Center for Financial Planning – CFP Board is exploring the creation of a center that would serve as a credible source of research that advances the financial planning professional in these core areas:  
    • Influencing and supporting academic research that is dedicated to helping financial planners better serve the public
    • Supporting diversity within the profession so that it better mirrors the American public; and
    • Building capacity for the next generation of competent and ethical financial planners to meet public demand.
  2. First Business School Doctoral Program - Louisiana State University E. J. Ourso College of Business, Department of Finance is now offering a Ph.D. in Business Administration (Finance) with a specialization in Financial Planning. This is the first CFP Board-Registered doctoral program in an AACSB-accredited college of business.
  3. New Academic Financial Planning Journal - John Wiley & Sons and CFP Board are collaborating on a peer-reviewed academic journal focused exclusively on financial planning. With this journal, CFP Board will be creating an academic home for those faculty who are teaching and conducting research in financial planning. The journal will be available free of charge to all CFP® professionals.

These efforts are a continuation of the leadership CFP Board has provided in building the academic foundation for financial planning. Currently, there are 225 colleges and universities offering CFP Board-registered programs with more than 120 of those offering financial planning baccalaureate programs. CFP Board is also conducting the world’s largest study of financial planning’s body of knowledge through its job task analysis. And in 2013, John Wiley & Sons and CFP Board published the seminal work, the Financial Planning Competency Handbook, which is an essential book for financial planners, students and those working within the profession.

“We are thrilled that we can continue to build upon the body of knowledge for financial planning,” said CFP Board CEO Kevin R. Keller, CAE.  “Along with our partners in the academic community, CFP Board is focused on providing rigorous research and publication opportunities, which will only elevate the certification, the profession and ultimately benefit the public.”

March Business Update Webinar Available for On Demand Viewing

Attendees of CFP Board’s latest Business Update Webinar on March 13 were the first to hear about the new academic initiatives announced by CFP Board, as well as a report from the latest meeting of the Board of Directors, and a video of highlights from CFP Board’s consumer and media outreach during 2013. If you missed the chance to interact with CFP Board’s leadership during the live webinar, a recording is now available for on demand viewing.

View the Recorded Webinar >

CFP Board Announces Chair Appointments to Disciplinary and Ethics Commission, Advisory Councils

Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today the appointments of its 2014 Chairs to the Disciplinary and Ethics Commission, Council on Education, Council on Examinations and Public Policy Council.

  • Matthew Murphy, CFP® - Chair, Disciplinary and Ethics Commission
  • John Grable, Ph.D., CFP® - Chair, Council on Education
  • Trisha Arndt, CFP® - Chair, Council on Examinations
  • Roger Begin, CFP® continuing as Chair, Public Policy Council

“Each of these individuals will play a critical role in ensuring we are fulfilling our mission of benefiting the public with CFP® professionals who are held to rigorous ethics, education and examination standards,” said CFP Board CEO Kevin Keller, CAE. “I am confident that their expertise, leadership and passion for the profession will prove invaluable to CFP Board and its stakeholders this year.”

The telephone survey of 803 CFP® professionals was conducted in late May and early June using a random sample of CFP® professionals. The sampling error is +/- 3.5 percent and has a 95 percent confidence level.

Learn more about the 2014 Chairs of CFP Board’s Commission and Advisory Councils >

CFP Board Applauds Bob Glovsky, CFP® on Presidential Appointment

Robert J. Glovsky, CFP®, former Chair of CFP Board’s Board of Directors, was recently appointed to serve as a member of President Obama’s Advisory Council on Financial Capability for Young Americans.

"Bob Glovsky has dedicated his life to helping others through the power of education and financial literacy. He has a deep understanding of the important role financial literacy can play in improving the financial capability of Americans of all ages,” said CFP Board CEO Kevin R. Keller, CAE. “His strong leadership, experience, expertise and commitment to financial literacy and education suit him perfectly to the important work of the President’s Advisory Council on Financial Capability for Young Americans."

As a member of the 25-member Advisory Council, Glovsky will be one of 22 non-governmental members. He will responsible for advising the “President and the Secretary of the Treasury on how to promote financial capability among young Americans and encourage building the financial capability of young people at an early stage in schools, families, communities, and the workplace and through use of technology.” More about the Advisory Council, which was created in June 2013, can be found here

“Our young people are our future and they need to have the practical skills to act in their best interests of saving more, spending less and making smart financial decisions,” said Glovsky. “I am honored to have been appointed by President Obama to this Advisory Council. With this position, I look forward to using my experience as a CFP® professional to further the goals of the Council in ensuring young Americans have greater financial capability.”

Glovsky is currently the Vice Chair and Principal of The Colony Group. Previously, he was a founder and President of Mintz Levin Financial Advisors. The founder of Boston University’s Financial Planning program, Glovsky remains involved, serving as the program’s Director Emeritus. He received his J.D. and L.L.M. from the Boston University School of Law and his B.A. from Dartmouth College.

Registration Now Open for 2014 CFP Board Registered Program Conference

Registration is now open for the 2014 CFP Board Registered Program Conference, which will take place August 7-8, 2014 in Washington, DC.

Register with the discounted Early Bird rate >

This annual meeting brings together faculty and program directors from institutions around the country that provide professional financial planning education and assist individuals in pursuing CFP® certification. It provides an opportunity to connect with CFP Board and faculty and program directors from financial planning education programs around the country, to share best practices for financial planning education, and to learn about CFP Board's commitment to education partnerships.

This year’s theme, Awareness; Education; Induction will be a platform for furthering our discipline relative to specific subject matter areas, engaging students both within the classroom and in online learning platforms, as well as facilitating certificate and degree-seeking students’ journeys toward CFP® certification.

New to this year’s conference is a Firms’ Night that will provide interested registered programs the opportunity to meet with representatives of national and regional firms to discuss potential partnerships that will provide support to registered programs and new hires to employers.

Learn more about the conference >

“Let’s Talk Planning” Blog: Financial Spring Cleaning

A recent “Let’s Talk Planning” blog post by CFP Board Consumer Advocate Eleanor Blayney, CFP® outlines 10 steps people can take to freshen up their finances with a thorough spring cleaning. “Once your financial information is in apple pie order, take it to a CERTIFIED FINANCIAL PLANNER™ professional who can then develop prudent strategies for getting you to your lifetime goals,” writes Blayney.

Visit the blog for timely topics you can share or discuss with your clients and potential clients.

Subscribe to the blog to receive notifications when new posts are added.

“Like” CFP Board’s New Consumer Facebook Page

FB_LMAP_BannerWith the launch of the latest phase of CFP Board’s Public Awareness Campaign, CFP Board has set up a new consumer-oriented Facebook page featuring consumer content from the Let's Make a Plan website and the "Let's Talk Planning" blog.

Visit the “CFP Let’s Make A Plan” page and give it a “Like” to receive posts with helpful financial planning-focused information you can share with your clients and prospective clients.

Visit and “Like” the “Let’s Make a Plan” Facebook Page >

CFP Board in the News

CFP Board’s Consumer Advocate, CFP Board Ambassadors and other representatives have been featured prominently by the national media in recent weeks, including stories from Consumer Reports, The Wall Street Journal, and The Washington Post. Read these and other notable articles >.

Upcoming Events

CFP® Professionals Participating in 2014 Money Smart Week, April 5-12

CFP Board is pleased to support 2014 Money Smart Week events across the country from April 5-12. Money Smart Week is a public awareness campaign organized by the Chicago Fed to help consumers better manages their personal finances. Now in its thirteenth year, Money Smart Week involves the collaboration of hundreds of organizations around the country, including libraries, non-profits, businesses, government agencies and the media. CFP Board has joined forces with the Chicago Fed as a national Money Smart Week partner in an effort to educate consumers on the benefits of sound financial planning and the value of CFP® certification.

CFP Board has invited CFP® professionals located near Money Smart Week events to register to participate in activities hosted at local libraries and other venues, including workshop presentations and one-on-one pro bono counseling. The local organizing committees will contact CFP® professionals as opportunities become available.

All workshops, seminars and pro bono activities must be educational in nature and relate to improving consumer knowledge of personal finances. Sales pitches and commercial marketing are strictly prohibited. Programming will be offered to all ages and income levels, and will cover all facets of personal finance.

To indicate your interest in participating, please register as a partner by completing the registration form available at https://www.chicagofed.org/applications/msw_calendar/register.htm. Be sure to include “Certified Financial Planner” in the “title” field of the registration form as this will be used by local organizing committees to search for presenters and volunteers who are CFP® professionals. You may also indicate your financial areas of interest on the registration form.

For more information about Money Smart Week, including the listing of organizing contacts in your state or county whom you may contact to inquire about local events, please visit www.MoneySmartWeek.org/chairpersons. If you have questions about the campaign, please contact Chicago Fed at money.smart@chi.frb.org.

Nominate a Colleague for 2014 Community Leadership Awards

Nominations are now being accepted for the 2014 Community Leadership Awards, established by the Invest in Others Charitable Foundation to recognize and celebrate financial advisors across the country for their exemplary leadership and philanthropic contributions.

Awards are granted in the following categories:

  • Catalyst Award
  • Community Service
  • Global Community Impact
  • Lifetime Achievement
  • Volunteer of the Year

Award finalists and winners will receive a generous donation to their designated charities. Finalists will receive $5,000, winners will receive $20,000, and the Lifetime Achievement Award winner will receive $25,000.

The deadline for entries is April 23, 2014. Nominate an advisor today >

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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements.