Financial Planning Association
The Financial Planning Association (or FPA) (U.S.), is a leadership and advocacy organization for those who provide, support and benefit from financial planning. Based in Denver, Colorado, FPA works with academic leaders, legislative and regulatory bodies, financial services firms and consumer interest organizations.
The organization was created in 2000 through the merger of the Institute of Certified Financial Planners (ICFP) and the International Association for Financial Planning (IAFP), Its stated Primary Aim is to be the community that fosters the value of financial planning and advances the practice and profession of financial planning. FPA is governed by a volunteer Board of Directors who are charged with helping the organization reach its mission while upholding the organization's bylaws.
All members of FPA must demonstrate a commitment to the highest standards of professional competence, ethical conduct and clear, complete disclosure for financial planning professionals. As such, they must adhere to FPA's standard of client care. These standards are as follows: Put the client's best interests first; Act with due care and in utmost good faith; Do not mislead clients; Provide full and fair disclosure of all material facts; Disclose and fairly manage all material conflicts of interest. Additionally, all FPA members are asked to commit to a Code of Ethics that reflects their pledge to help clients achieve their life goals. Under the Code, an FPA member must offer and provide professional service with integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence. Members that do not adhere to this code can be subject to a review by FPA's Ethics Committee.
FPA also publishes a peer-reviewed journal in the financial planning profession, the Journal of Financial Planning.
- 1 History
- 2 Presidents of FPA and Predecessor Organizations
- 3 FPA membership
- 4 Financial Planning Coalition
- 5 FPA and Community Service
- 6 FPA and the General Public
- 7 See also
- 8 References
- 9 External links
On December 12, 1969, Loren Dunton convened a gathering of 13 financial services industry leaders at the O'Hare Hilton in Chicago. As a result of this meeting, the Society for Financial Counselling [sic] was formed to serve as an umbrella for both a membership organization, the International Association for Financial Planning (IAFP), and an educational arm, the College for Financial Planning. The first graduating class of the College, in turn, formed the Institute of Certified Financial Planners (ICFP) in 1973.
On January 1, 2000, the IAFP and ICFP merged to form the Financial Planning Association (FPA).David Brand, the former executive director of the ICFP and Janet McCallen, the former executive director of the IAFP, took over as the co-CEOs of the merged organization. Brand departed at the end of 2000, leaving McCallen as sole CEO. In January 2004, McCallen was succeeded by Marv Tuttle, who served as CEO of the organization until 2012. On October 3, 2012, Marv Tuttle was succeeded by Lauren Schadle as the new CEO of the Financial Planning Association.
Presidents of the International Association for Financial Planning (IAFP)
- J. Chandler Peterson, JD, CLU, CFP (1975)
- Richard Venezia, CLU (1976)
- William B. Shearer, Jr., JD (1977, 1978)
- C. Robert Strader (1979)
- Ronald A. Melanson, CLU, CFP (1980)
- Kay H. Baird, CFP, CPA (1981)
- C. William Hoilman, CLU (1982)
- John M. Cahill, CLU, CFP (1983)
- Bill E. Carter, CFP, ChFC, CLU (1984)
- Donald R. Pitti (1985)
- Alexandra Armstrong, CFP, CMFC (1986)
- Charles B. Lefkowitz, CFP (1987)
- Larry W. Carroll, CFP (1988)
- R. Neil Barnes, CFP (1989)
- Robert A. Hewitt, Jr. CFP, ChFC, CLU (1990)
- Stephen J. Arpante (1991)
- Robert J. Oberst, Sr., PhD, CFP (1992)
- M. Anthony Greene ((1993)
- Ross Levin, CFP (1994)
- Martin Jaffe, CFP (1995)
- Gregory D. Sullivan, CFP, CPA/PFS ((1996)
- Peggy Ruhlin, CFP, CPA/PFS (1997)
- G. Joseph Votava, Jr., CFP, CPA/PFS, JD (1998)
- Richard P. Rojeck, CFP (1999)
Presidents of the Institute of Certified Financial Planners (ICFP)
- W. Robert Hightower, CFP (1973, 1974)
- Jordan N. Kokjer, CFP (1975)
- Nicholas C. McDaniel, CFP (1976)
- David M. King, CFP (1977, 1978)
- Terrance M. Gill, CFP (1979)
- Henry I. Montgomery, CFP (1980)
- Betty D. Jones, CFP (1981)
- Graydon K. Calder, CFP (1982)
- P. Kemp Fain, Jr., CLU, CFP (1983)
- Daniel S. Parks, JD, CFP (1984)
- Colin B. Coombs, CLU, CFP (1985)
- Lewis J. Walker, CFP (1986)
- Charles G. Hughes, Jr., CFP (1987)
- Eileen M. Sharkey, CFP (1988)
- John T. Blankenship, CFP (1989)
- Diane V. Schaak, CFP (1990)
- Madeline I. Noveck, CFP (1991)
- Richard B. Wagner, JD, CFP (1992)
- Terry J. Siman, JD, CFP (1993)
- Marysue J. Wechsler, CFP (1994, 1995)
- John S. Longstaff, CFP (1996)
- Judith W. Lau, CFP (1997)
- Robert J. Klosterman, CFP, CLU, ChFC (1998
- Elissa Buie, CFP (1999)
Presidents of the Financial Planning Association (FPA) (U.S.)
- Roy T. Diliberto, CFP, CLU, ChFC (2000)
- Guy M. Cumbie, CFP, CIMA (2001)
- Robert Barry, CFP (2002)
- Dave Yeske, DBA, CFP (2003)
- Elizabeth W. Jetton, CFP (2004)
- James A. Barnash, CFP (2005)
- Daniel B. Moisand, CFP ( 2006)
- Nicholas A. Nicolette, CFP (2007)
- Mark E. Johannessen, CFP (2008)
- Richard C. Salmen, CFP, CFA, CTFA, EA (2009)
- Tom Potts, Phd, CFP (2010)
- Martin F. Kurtz, CFP (2011)
- Paul Auslander, CFP (2012)
- Michael Branham, CFP (2013)
- Janet Stanzak, CFP (2014)
- Edward Gjertsen II, CFP (2015)
FPA has close to 100 chapters throughout the U.S., and its approximately 24,000 worldwide members represent more than 30 countries.
Members are able to join "Communities of Interest" for areas of interest, organized by both type of practice, stage of career, niche, and other interests. The first FPA Community of Interest was FPA NexGen, a community for young planners under the age 36. NexGen was first created as an independent community in 2004 by Aaron Coates, Michael Kitces, Dave Demming Jr, and April Johnson, and was merged in as an FPA Community of Interest several years later.
Financial Planning Coalition
On December 3, 2008, FPA joined forces with Certified Financial Planner Board of Standards, Inc. (CFP Board) and National Association of Personal Financial Advisors (NAPFA) to form the Financial Planning Coalition, with the goal to represent financial planners as the U.S. government works to reform the financial services industry.
FPA and Community Service
FPA chapters and members engage in community service through financial education and pro bono financial planning initiatives. Chapter financial education programs aim to teach students and the general public on the basics of money management, while pro bono programs work to assist low-income individuals and families, disaster victims and others with special needs.
FPA and the General Public
FPA's financial planning portal for consumers includes resources, information and tools that allows them to:
- Be connected with financial planning professional through FPA’s PlannerSearch, a tool that allows the public to find a financial planner who will deliver advice using an ethical, objective, client-centered process.
- Obtain literature on a variety of personal finance topics.
- Ask a general financial planning question and receive an answer from an FPA member.
FPA collaborates with other organizations to help the public discover the value of financial planning and build awareness about the financial planning profession. Examples include a partnership with the AARP, which resulted in a guide for financial professionals working with older clients, and a partnership with SallieMae in which FPA and Nellie Mae conducted student loan repayment and financial planning seminars in schools and graduate programs across the country.
- Brandon, Denby H., Jr. and Welch, H. Oliver, "The History of Financial Planning: The Transformation of Financial Services," Wiley, Hoboken, NJ, October 12, 2009
- "FPA Primary Aim and Core Beliefs". www.fpanet.org. 2012-10-28. Retrieved 2012-10-28.
- Yeske, David B., Finding the Planning in Financial Planning: An Integrative Framework for Strategy-Making by Financial Planners (January 11, 2010). Available at SSRN: http://ssrn.com/abstract=1601327
- "Big Shift at FPA: Tuttle Steps Down, COO Schadle Steps Up". www.advisorone.com. 2012-08-21. Retrieved 2012-10-28.
- http://www.fpanet.org/professionals/Connect/CommunitiesofInterest/NexGen/Home/ FPA NexGen