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News Release

CFP Board Adopts Framework of New 5-year Strategic Plan

New Strategic Priorities Advance a Client-Centered Financial Planning Profession

August 19, 2021

Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that its Board of Directors has adopted the framework for a new strategic plan to guide the organization’s operations during the next five years and advance the organization’s mission to benefit the public.

The new framework consists of five strategic priorities:

  1. Standards & Certification: CFP Board sets, administers and enforces certification standards that warrant public trust.
  2. Access: CFP Board expands access to competent and ethical financial planners by increasing the number and diversity of CFP® professionals.
  3. Awareness: CFP Board increases awareness of CFP® certification as the must-have financial planner credential for consumers and advisors.
  4. Community & Regulatory Engagement: CFP Board engages the financial advice ecosystem to advance the financial planner profession and influences policy for the benefit of the public.
  5. Workforce: CFP Board develops a sustainable and diverse financial planner workforce.

“Our new strategic priorities build upon the successes CFP Board has achieved under our current strategic priorities of Awareness, Access, Accountability and Authority,” said Douglas S. King, CFP®, 2021 Board Chair. “For example, our consumer outreach has contributed to increased public awareness and demand for competent and ethical financial planning, and we’ve worked to meet that demand through expanded access, achieving record growth in the number and diversity of CFP® professionals.”

Added King: “Our new strategic framework takes our commitment to the public several steps forward by doubling down on setting, administering and enforcing certification standards that warrant public trust. Just as past strategic plans have led CFP Board to launch important initiatives such as our Public Awareness Campaign and the CFP Board Center for Financial Planning, we look forward to developing bold new initiatives to support our new priorities.”

CFP Board’s process for developing its 2022-2026 strategic plan began in December 2019 when it held a forum of nearly a hundred leaders from across the financial advice ecosystem to discuss the future of financial planning. CFP Board held subsequent virtual roundtables with thought leaders to identify key elements needed to advance the profession. A survey of CFP® professionals helped determine which of those elements are important for CFP Board’s work and where CFP Board can make the most impact.

“CFP® certification was the first professional credential focused squarely on the practice of financial planning,” said CFP Board CEO Kevin R. Keller, CAE. “Given CFP Board’s central position in the financial planning profession, our work to benefit the public has an impact on financial planners, firms, educators, investor advocates, policymakers, regulators and other influencers. We look forward to continuing our work with leaders across the financial advice ecosystem to advance our shared vision for the future of a financial planning profession focused squarely on helping clients.”

about cfp board

Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning. CFP Board, along with its Center for Financial Planning, is committed to increasing the public’s awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms as the standard for financial planning, CFP® certification is held by more than 90,000 people in the United States.

contact

John Pappas
Director of External Communications
202-379-2252
jpappas@cfpboard.org