April 2016 Newsletter

Message from Leadership

Marilyn Mohrman-Gillis, Executive Director

Marilyn Mohrman-Gillis,
Executive Director

Welcome to the inaugural issue of the CFP Board Center for Financial Planning newsletter. Whether you are a CFP® professional, affiliated with a CFP Board Registered Program, a donor, a volunteer, or simply expressed interest in the Center, this quarterly newsletter will serve as a way for you to stay informed about our work. And, I want to let all of our dedicated Women’s Initiative (WIN) Advocates and volunteers know that they will continue to receive updates on WIN through our new Center newsletter.

My first few months as executive director of the Center for Financial Planning have been exciting and energizing, as we identify short- and long-term objectives for this transformative effort to build capacity and advance the financial planning profession. The challenges facing the profession are many and the Center’s first year is set to be an ambitious one, as we launch compelling efforts to build an academic home and body of knowledge for financial planning; improve the diversity of our workforce to mirror that of the public it serves; and attract the next generation of financial planners to replace those retiring in coming years.

As you will see in this newsletter, we continue to make significant progress to achieve the Center’s goals by engaging our stakeholders and prospective donors, and executing our groundbreaking initiatives. I am honored to be working alongside a couple of true luminaries in the profession – Bob Glovsky, CFP®, serving as the Chair of the Advisory Council that will provide expertise and guidance needed to execute the Center’s programmatic initiatives, and Karen Schaeffer, CFP®, serving as the Chair of the Campaign Development Committee that will help us raise the funds necessary for the Center’s vision to become a reality.

We are also very grateful to TD Ameritrade Institutional for investing significant time and resources into the Center as its Lead Founding Sponsor. TD Ameritrade Institutional has been instrumental to the Center’s development by providing valuable leadership and demonstrating a strong commitment to advancing the financial planning profession.

I look forward to sharing future news about the Center, its exciting projects and accomplishments, and to partnering with organizations and individuals from across the country. I hope you will join us.

Sponsor Spotlight

The Sponsor Spotlight Article is sponsored content, not content of the CFP Board Center for Financial Planning.  It is an opportunity for sponsors of the CFP Board Center for Financial Planning to communicate non-commercial educational information about their firm.

SPONSOR SPOTLIGHT ARTICLE: TD Ameritrade Institutional

Keeping Up With Our Changing Industry

TD home pageTo help support the needs of the U.S. population in light of changing demographics, the advisor population is also changing. Why? “Advisors are helping to create a diverse workforce in order to create a place where diverse clients want to come,” says Kate Healy, Managing Director of Marketing for TD Ameritrade Institutional. “It helps them better understand the needs of the population.”

At TD Ameritrade, we’re doing our best to help prepare for these shifts by providing support to the next generation of financial advisors. Our targeted efforts aim to support career goals of underserved populations, such as women and diverse candidates.

We have developed resources for advisors to help them engage with the next generation through internship programs and guidebooks that provide step-by-step support. Students have attended National LINC to network, while our RIANextGen.com job board helps them to find open positions.

To further support new careers in financial planning, the TD Ameritrade Scholarship & Grant Programs provide resources to grow our industry.

We’ll award 10 scholarships of $5,000 each to students working toward an undergraduate degree in Financial Planning. In addition, two diversity scholarships will be awarded to students from underrepresented sectors in our profession.

Additionally, two grants will be awarded to universities that demonstrate a commitment to educating the industry’s future financial professionals. We’ll give one $50,000 grant to a university with an established program, and one $25,000 grant to a university with an emerging program.

Now is the time to apply! Applications for scholarships and grants will be accepted from April 11 through May 31, 2016. The winners will be announced in early- to mid-July.

You can listen to what last year’s winners have to say about the outlook for careers in financial planning and watch a video on the rising demand for financial advice at the TD Ameritrade Scholarship Winner page.

For more information and for application forms, visit TD Ameritrade RIA NextGen Scholarship and Grant Programs.

TD Ameritrade Institutional and the CFP Board are separate and unaffiliated and are not responsible for each other’s services or policies.

TD Ameritrade Institutional is a division of TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2016 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.

Individual Donors

V. Raymond Ferrara, CFP® Founders Circle ($250,000+)

V. Raymond Ferrara, CFP®

The financial planning profession has reached a critical point in its evolution and, as financial planners, we must be proactive in taking control of the future of the profession that has given so much to each one of us. This why I have made a significant investment in the Center for Financial Planning. I truly believe that the Center will allow us to transform and elevate financial planning to the same level as more established professions such as accounting, law and medicine.

If we take the opportunity to unite as CFP® professionals through the Center, we can ensure that our profession remains relevant and that the next generation of financial planners is well prepared to help the American public achieve a financially secure future.

Therefore, I encourage all CFP® professionals to join me and over 1,200 others by giving back to our profession through a financial contribution to the Center for Financial Planning.


CHAIRS CIRCLE ($100,000 – $249,999) David H. Diesslin, CFP®, MBA Bob Glovsky, CFP® Karen P. Schaeffer, CFP®

VISIONARY CIRCLE ($50,000 – $99,999) Kevin R. Keller

LEADERS CIRCLE ($25,000 – $49,999) David E. Canter Cary Carbonaro, MBA, CFP® Marilyn Capelli Dimitroff, CFP® Charlie and Lisa Fitzgerald Charles and Judith Goldman Tim Kochis JD, MBA, CFP® Nancy A. Kistner, CFP® Ross Levin, CFP® Richard Rojeck, CFP® Maureen Tsu, MBA, CFP® Stewart H. Welch, III, CFP®

Click here for a complete listing of donors to the Center’s Capital Campaign. To make a donation, please click here.


Center for Financial Planning Design Summit

Attendees at the Center for Financial Planning Design Summit, Jan 14
Attendees at the Center for Financial Planning Design Summit, Jan 14

On January 14, the Center for Financial Planning convened a historic Design Summit to discuss and inform the Center’s priorities and potential initiatives. The daylong event, held at CFP Board’s offices in Washington, DC, brought together 42 distinguished thought leaders, including executives from leading financial advisory firms of all sizes and business models, academic leaders and researchers, diversity experts from the National Urban League and the National Council of La Raza and other leading voices in the profession. The conversation focused on current challenges to workforce development in financial planning and efforts to build a financial planner workforce that meets the evolving needs and expectations of the American consumer. Later this spring, the Center will release a formal proceedings report, memorializing the summit discussions.

TD Ameritrade Institutional National LINC 2016

Left to right: Bob Glovsky, CFP®, Chair of Advisory Council, Marilyn Mohrman-Gillis, Executive Director and Kevin Keller, CEO of CFP Board at the LINC
Left to right: Bob Glovsky, CFP®, Chair of Advisory Council, Marilyn Mohrman-Gillis, Executive Director
and Kevin Keller, CEO of CFP Board at the LINC

The Center for Financial Planning seemed to be everywhere attendees turned during Lead Founding Sponsor TD Ameritrade Institutional’s signature event: the National LINC conference, held in Orlando, FL on Feb 3-6. Tom Nally, President of TD Ameritrade Institutional, discussed why his firm is so deeply committed to supporting the Center during his opening remarks, while the Center’s Executive Director Marilyn Mohrman-Gillis and Kate Healy, Managing Director of Marketing at TD Ameritrade Institutional, held a press briefing on the Center and its priorities. Through a prominently positioned booth, presence in the conference’s Student Center, and co-branded signage throughout the conference, Center staff engaged with potential supporters and volunteers, collecting over 100 pledge cards.

Promotional Video

The Center for Financial Planning recently filmed a promotional video designed to illustrate its mission and vision for the future of the financial planning profession, as well as the collective impact made possible through the Center’s efforts. The video is already being used in outreach to prospective volunteers and donors and can be viewed below.

2016-17 Initiatives

The Center for Financial Planning has developed ambitious goals for 2016-17, with a focus on conducting research, convening forums and launching projects in three key initiatives. Implementation of these and additional projects will be guided by the Center’s Advisory Council and strategic advisory groups dedicated to specific initiatives, which will be comprised of thought leaders, stakeholders and subject matter experts. We look forward to sharing updates to keep you informed of our progress and ways you can get involved in support of these exciting projects.

Academic Home

image016The Academic Home will offer opportunities for showcasing and publishing new research, adding to the financial planning body of knowledge and supporting tenure and promotion of financial planning faculty with the goal of creating more financial planning programs at colleges and universities, more students, and ultimately more qualified professionals entering the workforce. Initial projects within this effort will include:

  • Financial Planning Body of Knowledge, a searchable online compilation of research from financial planning and related disciplines for use by academics, practitioners and the public;
  • First-ever Academic Research Colloquium for Financial Planning and Related Disciplines, a forum to gather, share and showcase relevant research within financial planning and related disciplines, to be held on February 7-9, 2017 in Washington, D.C., in collaboration with the Canadian-based Financial Planning Standards Council and the international association, the Financial Planning Standards Board. The Call for Papers is available here.

To learn more about the Academic Home, view a testimonial video.


The Diversity Initiative will address the lack of gender and racial diversity within the profession so that it can meet the growing and increasingly diverse needs of the American consumer. These efforts will build on progress made with CFP Board’s Women’s Initiative (WIN). Initial projects to address the diversity challenge include:

  • Working with the WIN Council made up of leading experts on gender parity in financial services to advise on the development and implementation of projects related to gender diversity.
  • Launching a “WIN-to-WIN” Mentorship Pilot Program connecting women who are pursuing CFP® certification with WIN Advocates as mentors.
  • Launching the “Faces and Voices of Diverse CFP® Professionals” campaign, showcasing leaders in the profession who epitomize diversity in gender, race, and age, highlighting the reasons they attained CFP® certification and why they believe financial planning is a great career.
  • Assembling a Racial Diversity Advisory Group made up of experts in the areas of racial diversity and recruitment, leaders from advisory firms and CFP Board Registered Programs, to advise on the development of projects related to racial diversity.
  • Conducting a Racial Diversity Research Study to identify the barriers to racial diversity in the financial planner workforce, examine the perceptions and attitudes of key stakeholder groups and articulate the business case for a racially diverse workforce.

To learn more about the Diversity Initiative, view a testimonial video.

Workforce Development

image020The Center will attract and develop the next generation of financial planners to replace the retiring workforce. These efforts will build upon CFP Board’s existing work to connect employers with skilled and competent financial planning professionals through the CFP Board Career Center. Initial projects in the area of Workforce Development include:

  • Expanding the CFP Board Career Center, which connects employers with skilled and competent financial planning professionals, by increasing the number of entry-level jobs and internships available for graduates of financial planning programs.
  • Launching Scholarship Programs for qualified students seeking to complete CFP® certification and pursue careers in financial planning.

Additional potential projects under consideration in this area include:

  • Launching Pilot Projects with Financial Services Firms to establish and support internships for financial planning professionals.
  • Conducting a NextGen Pipeline Pilot Study to gain insight on how to best raise awareness for financial planning careers and establish best practices at institutions that can increase retention when students enter the profession.
  • Conducting a Career Paths Inventory Study to lay the groundwork for a guide to career paths in financial planning.

To learn more about the Workforce Development Initiative, view a testimonial video.

Center in the News

Listed below are recent articles about the Center. Click here to view recent press releases.

Closing the Gender Gap in Financial Careers Requires Creativity NerdWallet 03/10/2016

Wanted: Women Financial Advisors Financial Advisor 03/01/2016

Women’s Retirement Planning: What Wall Street Misses Barron’s 02/13/2016

Creating Student Awareness A Major Challenge For CFP Board Financial Advisor 02/05/2016

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