Dear FPA Member,
The advancement of the financial planning profession with the CERTIFIED FINANCIAL PLANNER™ certification as its cornerstone is a noble mission. And while FPA and CFP Board have made remarkable gains over the past 30 years, we still face challenges that must be overcome to realize our goal of being a truly recognized profession.
Currently, there are insufficient numbers of young CFP® professionals representing America's gender and ethnic diversity to meet the public’s demand for the delivery of quality financial planning. The gap between supply and demand is just too great.
Over the past few years, CFP Board and FPA have developed a close strategic relationship as partners in the Financial Planning Coalition and through other endeavors. Through CFP Board’s new Center for Financial Planning and FPA’s ongoing national and local chapter efforts in areas such as its NexGen community, student chapters, Residency program, mentoring program, diversity initiative, and a variety of career development programs, CFP Board and FPA, along with other organizations and companies in the profession, will work to close the gap.
There are some who question the roles for CFP Board and FPA and whether we are working at cross-purposes or wasting valuable resources through duplicated efforts.
To us, our respective roles are as follows: CFP Board's job is to "mint" planners, while FPA's job, as the professional membership association for CFP® professionals, is to "nurture" them.
While the line between “minting” planners and “nurturing” planners is usually clear, there may be times when some of our initiatives overlap. Some overlap is not necessarily a bad thing, as long as we strive to ensure our efforts are complementary, because addressing the workforce development and diversity challenges facing the profession is bigger than any one organization can accomplish.
Our intention and commitment is to work together to leverage our strengths and maximize our resources to reduce confusion and overlap. We cannot afford to do otherwise. We are invested in each other’s success and we have plans in place to ensure that we work strategically to help one another achieve mutual goals.
Edward W. Gjertsen II, CFP® Richard P. Rojeck, CFP®
2015 President Chair, Board of Directors
Financial Planning Association (FPA) Certified Financial Planner Board of Standards, Inc.