December 2016 Newsletter

Message from Leadership

Bob Glovsky, CFP®, Chair of Advisory Council

Bob Glovsky, Chair of Advisory Council
Bob Glovsky, CFP®
Chair of Advisory Council

The CFP Board Center for Financial Planning celebrated its one-year anniversary on November 18, 2016, and with it, a year full of important achievements. I am incredibly proud of the significant progress we have made in each of our three primary focus areas – Workforce Development, Diversity and the Academic Home – in support of our mission to create a more diverse and sustainable financial planning profession so that every American has access to competent and ethical financial planning advice.

As part of our workforce development effort, we established the Financial Planner Reentry Initiative to connect firms with experienced professionals seeking to return to the workforce, expanded the CFP Board Career Center to include more entry-level positions and internships, and hosted the inaugural Online Career Fair. We also created two new scholarship programs to support students seeking the education needed to complete CFP® certification.

In the area of diversity, we established the “WIN-to-WIN” mentorship program to connect women pursuing CFP® certification with a nationwide network of CFP® professionals serving as mentors, and developed new partnerships with key women’s advocacy organizations to inspire women and girls to pursue careers in financial planning. We have also worked diligently to prepare for the launch of the “Faces and Voices of Diverse CFP® Professionals” awareness campaign early next year to encourage more young people, particularly women and people of color, to choose a career in financial planning.

Our efforts to build an Academic Home for the financial planning profession include convening leading academicians and researchers at the first-ever Academic Research Colloquium for Financial Planning and Related Disciplines to be held on February 7-9, 2017, in Arlington, VA. In addition, we partnered with Columbia University to develop a new teaching program for faculty and CFP® professionals who wish to teach financial planning, and are working with John Wiley & Sons, Inc. to publish a new book series to expand the financial planning body of knowledge. We have also set the stage for next year’s launch of the financial planning body of knowledge website, a comprehensive online compilation of research from financial planning and related disciplines for use by practitioners, educators and the public.

I encourage you to read more about each of these exciting accomplishments below. Let me also add that none of this progress would have been possible without our many dedicated sponsors, donors and volunteers who have generously contributed their time, treasure and talent to make the Center’s work possible. I would personally like to thank the members of the Center’s Advisory Council, composed of some of the most talented and dedicated thought leaders both within and outside the profession, for their critical guidance on the development of the Center’s initiatives. I am honored to serve as Council chair and am very pleased to recognize these outstanding individuals in the Engagement section of this newsletter.

As we begin the Center’s second year, we know there is still much to be done. To continue making progress, we need to leverage our achievements and design new programs to move the needle in advancing our profession. We hope we can count on your continued support, engagement and sharing of insights to help us move forward. We can only succeed if we continue to work together.

On behalf of all of us at the Center, I wish you and your family a joyful holiday season and a prosperous New Year.

PS. Please consider supporting the Center by making a year-end donation. 100 percent of your contribution will go toward the implementation of Center’s programs and will be put to work immediately to help accomplish our important work.

Sponsor Spotlight

The CFP Board Center for Financial Planning is grateful to Fidelity Investments for its visionary support of the Career Center and workforce development initiatives that will advance the financial planning profession.

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.


The Truth About Talent: Delivering Holistic Planning May Hinge on Whom You Hire (Excerpt)

Fidelity InvestmentsIf all you needed to provide great holistic planning was the right spreadsheets and the right data to show a client, then anyone could succeed as an advisor. But you know that may not be the case. Certainly, having the right tools and information on clients is important, but the secret sauce that helps bring it together to make a great client experience is talent.

Talent, however, can involve a complex mix of ingredients. You start, of course, with a base of expert financial knowledge. But then there are the soft skills that are often harder to find—a genuine curiosity to probe a client’s wishes and fears, an ability to build lasting relationships, the stomach to have some tough conversations.

How do you find candidates that possess all of those qualities and how do you properly test them? It’s not easy and it doesn’t happen overnight. Consider the following in hiring and developing talent to offer holistic financial planning:

Plan early to make the right hires. Discussing your talent needs during your strategic planning process can help you budget the appropriate amount of time to find, hire, and groom the exact type of talent you need.

Look for the skills beyond financial planning. Financial knowledge is always a must in effective financial planning. But to deliver a great holistic financial planning experience, the advisors you hire also should possess extensive hands-on experience and emotional intelligence.

Invest in the tools and training that hires should have to succeed. Great holistic financial planning involves a combination of high tech and high touch. To help ensure consistent delivery by your entire team, make the time and investment to effectively train new hires and provide them with the tools they may need to deliver the experience your clients expect.

Please visit our website to access additional resources and Fidelity’s Insights on Advice, including Holistic Financial Planning: Help Redefine Your Value and Pave the Way for Growth white paper.

Corporate Sponsors

The Center for Financial Planning is conducting an historic $10,000,000 Capital Campaign to fund its initiatives. We are very pleased to report that the Campaign has raised over $6,200,000 in corporate and individual commitments through December 13, 2016.

We would like to thank the following companies for their generous support:

Lead Founding Sponsor


Founding Sponsor Circle

Northwest Mutual-50

Visionary Circle


Pinnacle Circle


Benefactors Circle


Friends Circle

Bridgewater Advisors Envestnet

Individual Donors

Lisa and Charlie Fitzgerald
Lisa and Charlie Fitzgerald
Leaders Circle
($25,000 – $49,999)

Making a gift to the CFP Board Center for Financial Planning was an easy decision for my wife, Lisa, and I.

My father and paternal grandfather were doctors and my maternal grandfather was a civil engineer. Lisa and I witnessed how they enjoyed the reputation and prestige of working in respected professions. Our wish is for Financial Planning to truly become a well-recognized and prestigious profession.

Our young profession has come a long way since its early days, but it still faces many challenges and the CFP Board Center for Financial Planning is confronting three major ones; the profession’s lack of (1) young and upcoming professionals, (2) gender and ethnic diversity and (3) an academic home.

While all three are equally important, I am most inspired by the Center’s work to create an Academic Home that will elevate financial planning as a rigorous academic discipline in our nation’s colleges and universities and where the Body of Knowledge for financial planning can be centralized and organized for easy access by professionals and the public.

For 20 years, I have benefited significantly from the financial planning profession. My greatest satisfaction has been helping people to use their financial resources to achieve peace of mind, improved quality of life and enduring legacies. The work of financial planning is a noble calling, and the work of the Center for Financial Planning can help increase the stature of our emerging profession. I have been blessed financially through my work as a financial planner and I am happy to give back my time and resources so that more may be blessed either as providers or recipients of competent and ethical financial planning care and advice.

As we enter the season of giving, I hope you will consider joining me and Lisa and the thousands of CFP® professionals who have given back to our profession, by making a gift to support the Center for Financial Planning.

Charlie Fitzgerald, III, CFP® Principal and Financial Advisor, Moisand Fitzgerald Tamayo, LLC CFP Board’s Board of Directors Center for Financial Planning Campaign Development Committee

Meet Our Donors

The Center for Financial Planning would like to recognize the following individuals who have contributed to the Center’s Capital Campaign.  The full listing of individual donors is available here. To make a donation to the Center, please click here.


  • V. Raymond Ferrara, CFP®

CHAIRS CIRCLE ($100,000 – $249,999)

  • David H. Diesslin, CFP®, MBA
  • Bob Glovsky, CFP®
  • Karen P. Schaeffer, CFP®
  • Rosalie J. Wolf

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®
  • Randy Morris, CFP® & Nancy Morris
  • Richard Rojeck, CFP®
  • Maureen Tsu, MBA, CFP®
  • Bob Wacker, CFP® and Debbie Wacker, CPA
  • Stewart H. Welch, III, CFP®

BENEFACTORS CIRCLE ($10,000 – $24,999)

  • Blaine F. Aikin, AIFA, CFA, CFP®
  • Jeff Farrar, CFP®
  • Peggy M. Ruhlin, CFP®
  • Richard C. Salmen, CFP®
  • Kimberly Wright–Violich

PATRONS CIRCLE ($5,000 – $9,999)

  • Lazetta Rainey Braxton, CFP®
  • Theodore R. Daniels
  • Mike Greene, CFP®
  • Gordon and Vickie Hampton
  • Audrey Wehr Jones, CFP®
  • Steven D. Podnos, MD, MBA, CFP®
  • Neal J. Solomon, CFP®, CLU, ChFC, CASL, and Dr. Robin M. Solomon

Making Giving Easier

Beginning in early 2017, CFP® professionals will be able to make a voluntary, tax-deductible donation to the Center for Financial Planning at the same time they pay their certification renewal fees. We encourage all CFP® professionals to consider making a donation to help fund the Center’s important work to create a more diverse and sustainable financial planning profession so that every American has access to competent and ethical financial planning advice.

100 percent of your contribution will go toward the implementation of Center’s programs and will be put to work immediately to help accomplish our important work. If you wish to make a year-end donation to the Center, please click here.


Advisory Council

The Center for Financial Planning is grateful to the following individuals who have risen to the occasion and are providing key strategic and programmatic guidance to the Center through their participation on the Advisory Council:

Robert Glovsky, CFP®
The Colony Group Council Chair
Stuart Armstrong, CFP® 
Centinel Financial Group
Marty Bicknell
Mariner Wealth Advisors
Lazetta Rainey Braxton, CFP®
Financial Fountains
David Canter
Fidelity Investments
Carol Fishman Cohen
Tim Gerend
Northwestern Mutual
Kate Healy
TD Ameritrade Institutional
Dr. Latha Ramchand
University of Houston
Grant Rawdin, CFP®
Wescott Financial Advisory Group
Cy Richardson
National Urban League
Dr. Tom Robinson, CFP®
Association to Advance Collegiate Schools of Business
Mark Tibergien
Pershing Advisor Solutions
Anne Weisberg
Paul, Weiss, Rifkind, Wharton & Garrison

Council Chair, Bob Glovsky, CFP®, recently discussed the Center in a video interview with Worth.

Rock the Street, Wall Street Partnership

On November 2, the Center announced a new partnership with Rock the Street, Wall Street, a nonprofit organization that works to educate and equip girls to achieve financial success and pursue careers in finance. Through this collaboration, the Center’s Women’s Initiative (WIN) Advocates will serve as mentors and instructors at designated high school schools during a five-week literacy-to-career program. At the end of each program, students will also have the opportunity to go on Wall Street Experience field trips, meeting financial professionals in their offices and on trading room floors for an immersive industry experience. The first program began October 18 at William Cullen Bryant High School in Long Island City, NY, with additional sessions planned in Nashville and Dallas-Fort Worth.

Forté Foundation Partnership

The Center recently initiated a partnership with the Forté Foundation, an organization dedicated to advancing businesswomen in the workforce. The partnership will enable the Center to reach Forté’s network of more than 70,000 active members with information about careers in financial planning through webinars, newsletters and personal interviews with CFP® professionals. As part of the collaboration, the Center is partnering with Forté on various events, including an upcoming December 13 webinar “Careers in Financial Planning: A Great Career for College Women” geared to the Forte college community, and the recent Fast Track to Finance Conference in November in Boston, that connected the Center with undergraduate business students through a panel presentation and an exhibit.

Invest in Girls at FPA BE 2016

In September, the Center and the Financial Planning Association’s (FPA) Women and Finance Knowledge Circle partnered with Invest in Girls to host a career event at the FPA BE 2016 National Conference in Baltimore for local high school girls. Invest in Girls is an organization that teaches financial skills to high school girls and exposes them to career paths in finance. The half-day event, attended by over 50 students, featured women CFP® professionals sharing personal experiences and helping students work through a financial planning exercise, giving them a real sense of what it means to be a financial planner.

Quad-A Town Hall

The Center was honored to participate in a town hall meeting hosted by the Association of African American Financial Advisors (Quad-A) during the organization’s annual conference in September. Quad-A’s mission includes developing and fostering professional relationships among minority professionals working in the financial services industry. Marilyn Mohrman-Gillis, executive director of the Center, spoke about the Center’s diversity initiatives and the need for profession-wide support to move the needle in creating a more diverse and sustainable financial planning profession.


The Center is undertaking an ambitious agenda of programs and initiatives, spanning its three priority areas—developing the next generation workforce, fostering greater diversity in the profession and building an academic home for financial planning—and has engaged a variety of stakeholders and partners both within and beyond the profession to achieve them. Implementation of these and additional projects will be guided by the Center’s Advisory Council and strategic advisory groups dedicated to specific initiatives, comprised of thought leaders, stakeholders and subject matter experts.

Workforce Development

image046In light of the financial planning workforce aging and shrinking each year, the Center seeks to attract and develop the next generation of financial planners, and ensure they are equipped with the knowledge and skills to competently and ethically serve the public. Included below are updates on Center’s programs to create a more sustainable workforce.

  • The Center has partnered with iRelaunch, a leading career reentry consultant, to launch the Financial Planner Reentry Initiative to assist financial service firms in developing re-entry programs for experienced professionals seeking to reenter the workforce after a career break. The initiative is modeled after similar programs that have been proven successful in other areas of financial services, as well as engineering and technology sectors.
  • In October, the Center announced the formation of the Deena Jo Heide-Diesslin Foundation Challenge Match Scholarship. Created in partnership with the Deena Jo Heide-Diesslin Foundation, the scholarship provides financial assistance to students from underrepresented populations looking to complete educational requirements for CFP® certification. The Center also continues to offer the Milton Stern Scholars Fund, which was created in memory of Milton Stern, a major contributor to the Center for Financial Planning and a strong proponent of financial literacy. The Fund supports residents of New York, Connecticut or New Jersey seeking to complete a CFP Board-Registered Certificate Program. To learn more, apply for a scholarship, or donate, click here.
  • The CFP Board Career Center continues to add entry-level positions and internships to its online database to help connect employers with current and aspiring financial planning professionals. The Career Center held its inaugural Online Career Fair in September that virtually connected employers with candidates seeking careers in financial planning. In addition, the Career Center continues to host and archive helpful webinars for employers and job seekers.
  • In 2017-18, the Center for Financial Planning plans to conduct research studies to examine ways to raise awareness of financial planning careers and develop clear career paths into the profession.


image048The Center’s Diversity initiative seeks to address the lack of gender and racial diversity in the profession so that the financial planner workforce can better meet the increasingly diverse needs of the American public. Included below are updates on programs the Center is undertaking to create a more diverse workforce.

  • The Center launched the “WIN-to-WIN” mentorship program to connect women pursuing CFP® certification with a network of experienced CFP® professionals who have volunteered to provide mentorship and support. Women interested in finding a mentor can register online and search for a mentor based on their geographic location, experience and business model. More than 550 people have signed up to find a mentor, and the Center is seeking additional mentors for this exciting program. CFP® professionals interested in serving as mentors can sign up here.
  • The Center’s WIN Council continues to seek new partners as it pursues its work to close the gender gap in the financial planning profession. The Center has already developed partnerships with key women’s advocacy organizations, including Forte Foundation, Invest in Girls and Rock The Street, Wall Street, to inspire and educate women and girls about career opportunities in financial planning, leveraging a network of over 300 CFP® professionals serving as WIN Advocates nationwide. CFP® professionals interested in becoming a WIN Advocate can register here.
  • In early 2017, the Center will launch the “Faces and Voices of Diverse CFP® Professionals” awareness campaign to encourage more young people, particularly women and people of color, to choose a career in financial planning. The campaign will feature young CFP® professionals serving as spokespeople who will tell their stories, including reasons they chose a career in financial planning and why they believe other young people should consider it. The campaign will be promoted through social media as well as targeted to colleges and universities nationwide.
  • As the WIN Council focuses on fostering greater gender diversity, the Center will establish a Diversity Advisory Group to provide guidance on projects aimed at increasing racial and ethnic diversity in the profession. The Advisory Group will be comprised of diversity and recruitment experts, as well as leaders from financial advisory firms, and academic institutions.
  • The Center plans to conduct a diversity research study to examine barriers to racial and ethnic diversity in the financial planner workforce, including perceptions and attitudes of key stakeholder groups regarding the importance of building and maintaining a diverse workforce. Findings from the study will be released and discussed at a Diversity Summit.

Academic Home

image050While there is greater demand for personal financial advice and need for financial planners, there is a shortage of qualified faculty to prepare these professionals, as well as limited avenues for conducting and publishing empirical research and contributing to the profession’s body of knowledge. The Center will support the creation of an Academic Home to elevate financial planning to the same level as more established disciplines, such as accounting, law and medicine. Included below are updates on programs within the Academic Home initiative.

  • The first-ever Academic Research Colloquium for Financial Planning and Related Disciplines will convene leading academicians and researchers to showcase relevant research that relates to the discipline of financial planning. The event, which takes place February 7-9, 2017, in Arlington, VA, will feature keynote presentations from some of the best and brightest researchers, educators, and thought leaders. Click here to register and view the agenda, including the list of keynote speakers and presenters for the paper and poster breakout presentations. To learn more about sponsorship and exhibiting opportunities, download the sponsorship prospectus or contact Sara Muehlbauer at or 202-379-2239.
  • In 2017, the Center will launch the Financial Planning Body of Knowledge, a searchable online compilation of research from financial planning and related disciplines for use by practitioners, academics and the public.
  • The Center has partnered with the Columbia University School of Professional Studies to develop a teaching program for faculty and CFP® professionals interested in teaching financial planning. The five-day program will be offered at the university from May 22-26, 2017, and will teach participants about instruction design, learning objectives development, student assessment methods, and avenues to bring experiential learning both into to the classroom and online. More information regarding the program and registration can be found here. Register soon to take advantage of an early-bird discount and save 30%.
  • In 2017, the Center will launch a new Wiley Book Series designed to expand the financial planning body of knowledge. The five-book series will be released over the next five years, beginning with Communication Essentials for Financial Planners: Strategies and Techniques, written by Dr. John Grable, CFP®, and Dr. Joseph Goetz of the University of Georgia.

Center in the News

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

CFP Board Offering Job-Search Help for National Career Development Week KFBK News November 16, 2016

To Be a Financial Planner, Girls Have To Know What One Is Financial Advisor November 2, 2016

CFP Board, ‘Rock the Street’ Launch Career Program for High School Girls ThinkAdvisor November 2, 2016

Financial Advisers Are Missing the Mark With Women Market Watch October 28, 2016

Financial Planners Need to Cut Out the Mansplaining D Magazine October 27, 2016

As Investors Become More Diverse, the CFP Board Races To Catch Up Financial Advisor October 4, 2016

CFP Professionals Top 75,000 Financial Advisor September 6, 2016

Demand for Female Advisers Eventually Will Come From Female Clients InvestmentNews September 4, 2016

CFP Board Hosts Online Career Fair Financial Advisor August 26, 2016

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