July 2018 Newsletter

From the Desk of Marilyn Mohrman-Gillis, Executive Director

July 2018

Marilyn Mohrman-GillisFollowing a tremendous second year in operation, the Center recently released our 2017 Annual Report. The report highlights the Center’s many successes in our ongoing mission to create a more diverse and sustainable financial planning profession, sharing progress made in each of our three focus areas: advancing Workforce Development, fostering greater Diversity in the profession, and working to develop an Academic Home and body of knowledge for financial planning. We invite you to read the full report to learn more about our activities and accomplishments.

The Center’s transformative work continues, particularly through our Diversity initiative. As consumer demand for financial advice grows and becomes more diverse, it is incumbent upon us to understand the challenges people of color face when entering the profession and to create opportunities for a more diverse  and inclusive financial planning workforce. Our important, new research into the lack of racial and ethnic diversity within the profession shed light on these challenges and found that earlier exposure to the benefits of a career in financial planning, as well as mentorship and more diversity hiring programs, are integral to building a more inclusive workforce and ensuring that every American has access to competent and ethical financial advice.

In addition to providing the bedrock for future programs, this research will serve as the foundation for the Center’s first-ever Diversity Summit, scheduled for October 23, 2018 at the Times Center in New York City. The Summit will convene thought leaders from within and beyond the financial planning profession for discussion and action on the important topic of advancing racial and ethnic diversity in the profession. We would like to thank the Summit’s Signature Sponsors, Merrill Lynch and the Charles Schwab Foundation, as well as Major Sponsor Prudential for their generous support. We hope you will join us for this seminal event. Additional information and registration is available here.

You can read more about these and other Center developments below. Finally, I would also like to thank Envestnet for becoming a Founding Sponsor of the Center. Their generous contribution – along with those of our Lead Founding Sponsor TD Ameritrade Institutional, Founding Sponsor Northwestern Mutual and our other valued contributors – make the Center’s work possible. As always, I encourage you to consider making a contribution to the Center’s Capital Campaign, which has raised over $10.2 million in gifts and pledges as of July 12, 2018.

We appreciate your continued interest in the Center and commitment to creating a more diverse and sustainable financial planning profession. We also invite you to visit our website for additional Center news and announcements.

Warm Regards,

Executive Director
CFP Board Center for Financial Planning


  • Read about the Center’s 2017 Accomplishments in Our Annual Report: The Center continued to advance its mission of creating a more diverse and sustainable financial planning profession in 2017, celebrating a number of groundbreaking achievements throughout the year. Our Annual Report highlights last year’s programmatic and fundraising accomplishments, and recognizes our corporate sponsors, individual donors and volunteers. Read the full report here.

  • Center Releases Findings from Comprehensive Research on Barriers to Diversity in the Financial Planning Profession: A new study conducted by the Center identifies several root causes of the lack of racial and ethnic diversity across the profession, as well as potential strategies to overcome these challenges. In particular, the study finds earlier exposure to financial planning is crucial to successfully build a more inclusive, sustainable workforce. This research is a key element of the Center’s Diversity initiative and will provide the foundation for future programs designed to foster greater racial and ethnic diversity in the financial planning workforce. The study was funded by generous contributions from the Charles Schwab Foundation and the Capital One Foundation, as well as TD Ameritrade Institutional, the Center’s Lead Founding Sponsor, and Northwestern Mutual, the Center’s Founding Sponsor. Read more and access the full research report.

  • Richard B. Wagner Memorial Scholarship Fund Announced: The Financial Planning Association® (FPA®) and the Center recently announced the Richard B. (Dick) Wagner Memorial Scholarship Fund as a joint effort to advance and diversify the CFP® professional workforce. The scholarship will assist prospective CFP® professionals seeking to complete a CFP Board Registered Program and new CFP® professionals who want to continue their professional advancement, with a focus on underrepresented populations. The program honors the memory and legacy of Dick Wagner, a renowned CFP® professional and thought leader in the financial planning community. Read more.

  • Early Bird Registration Open for 2019 Academic Research Colloquium for Financial Planning and Related Disciplines: This international meeting of researchers, doctoral students and practitioners is designed to be a showcase for rigorous, relevant research within financial planning and disciplines related to the financial planning practice. The third annual Colloquium will be held February 19-21, 2019, in Arlington, VA. For the first time the agenda will include practitioner-focused sessions designed for CFP® practitioners to engage with researchers. In addition, awards in the amount of $2,500 will be presented to the best research papers on behavioral finance, insurance/risk management, investments and household finance, as well as to the best paper by a junior faculty member. The deadline for submitting a paper or abstract is September 15, 2018. Additional information about the Colloquium, including registration, hotel and paper submission process is available here.

  • Center Participates in Events to Promote Financial Planning Careers to Women: The Center recently participated in a series of events as part of its Women’s Initiative (WIN), designed to raise awareness of financial planning as a rewarding career opportunity for women. In partnership with the Forte Foundation, the Center had onsite presence in three Fast Track to Finance conferences that drew over 300 women in undergraduate and graduate business schools, highlighting the opportunities in financial planning. Forte Foundation is a non-profit consortium of leading companies and business schools working to launch women into fulfilling careers. The Center also participated in the second annual Financial Planning & Women Diversity Symposium hosted by the University of Akron, which has three financial planning programs registered with CFP Board. The symposium drew over 200 attendees and focused on identifying best practices for recruiting a diverse population of college-bound students and career changers into the financial planning profession.

  • Second Financial Planning Teaching Seminar is a Success: On June 4-8, 2018, the Center and Columbia University School of Professional Studies held a successful second offering of the Financial Planning Teaching Seminar in San Francisco. The weeklong program was attended by current and aspiring faculty as well as CFP® professionals looking to become adjunct or full-time instructors in a CFP Board Registered Program. The experience-based seminar focused on financial planning content as well as basic instructional design, learning objectives, student assessment and ways to provide students with experiential learning.

  • The Deena Jo Heide-Diesslin Foundation Challenge Match Scholarship Applications Open August 1: Honoring the memory of Deena Jo Heide-Diesslin, this scholarship provides financial support to individuals from underrepresented populations who are pursuing CFP® certification. Eligible individuals will have demonstrated financial need and/or represent underrepresented populations within the financial services profession (gender, race, ethnicity, disability, and/or sexual orientation). Applications will be accepted from August 1, 2018 through September 14, 2018. Learn more and apply.

  • Center to Hold Diversity Summit on October 23: Scheduled for October 23, 2018, at the Times Center in New York City, the Summit will serve as a springboard for discussion and action on the important topic of racial and ethnic diversity and inclusion in the financial planning profession. At the Summit, the Center will release a thought leadership paper examining causes and research-based recommendations for addressing the underrepresentation of blacks and Latinos in the financial planning profession. We are seeking participation from financial firm executives with responsibilities related to diversity and inclusion, leaders of “influencer” organizations that can reach diverse populations, and practitioners interested in advancing diversity in the profession. To learn more and register for the Summit, please click here.  If you have questions about the Summit or would like to recommend individuals or organizations the Center should invite to attend, please contact Eddy Demirovic at edemirovic@cfpboard.org.

Participate in Center’s Programs

  • Be a Part of the Financial Planner Re-Entry Initiative: The Center is currently seeking firms to join the second cohort of the Financial Planner Re-Entry Initiative (FPRI), a program for qualified professionals that features paid return-to-work internships at financial planning firms around the country. Firms interested in increasing the number of senior-level financial planning professionals in their ranks and would like more information about this program can contact Beth Klein at BKlein@CFPBoard.org for more information.

  • Participate in the 2019 Academic Research Colloquium: The Center invites researches, students and practitioners to participate in the third annual Colloquium on February 19-21, 2019, in Arlington, VA. Additional information, including registration, hotel and paper submission process is available here.

  • Financial Planning Review Accepting Papers on FinTech and Other Subjects: The Center’s new double-blind, peer-reviewed academic journal, Financial Planning Review, will publish its first edition this fall, featuring research papers on topics directly or indirectly related to financial planning practice. The Review is currently accepting papers for a special FinTech edition to be published in December 2019.  Papers specific to FinTech and how technological innovations are transforming – and adding complexity to – financial services must be submitted by December 31, 2018 to be considered for this special edition. The Review is also accepting – on a rolling basis – papers on topics including portfolio choice; behavioral finance; household finance; psychology and human decision-making; consumer finance and regulation; human sciences; and financial therapy, literacy and wellness. Additional details are available here.

  • Share the “I am a CFP® Pro” Campaign with Schools and Alumni Organizations: The Center continues to seek out organizations, such as schools and alumni associations, to help spread the “I am a CFP® Pro” campaign’s message about why young people should consider becoming a financial planner. To make sharing the many benefits of a career in financial planning easy, the Center has developed a fully customizable resource toolkit for schools that includes campaign videos, promotional fliers and posters that can be co-branded with the school’s logo and colors, and templates for articles and communications. The toolkit is available on the campaign’s website, www.cfppro.org. We invite you to share the toolkit with your alma mater. We also welcome any introductions to schools and alumni groups. Please contact Eddy Demirovic at edemirovic@CFPBoard.org with any referrals.

  • Promote Gender Diversity by Participating in WIN: The Center’s Women’s Initiative (“WIN”) is working to address the lack of gender diversity in the financial planning profession, through programs such as the WIN Advocate network and WIN-to-WIN Mentorship Program. We encourage CFP® professionals to sign up to participate in these programs to help attract more women to the financial planning profession. Become a mentor to a woman seeking CFP® certification, or sign up as a mentee to receive guidance and support through the certification process. CFP® professionals interested in raising awareness in their communities of financial planning as a rewarding career opportunity for women can sign up here to become a WIN Advocate.

  • Participate in Future Research: CFP® professionals are encouraged to volunteer to be part of the Center’s research list for the opportunity to participate in innovative research projects that may help their practice and the entire profession. Participating CFP® professionals will receive a copy of the final research paper for any study in which they elect to participate. More information can be found here.

Support the Center

  • Make a Gift to the Annual Fund: You can make a difference today! Your donation to the Center for Financial Planning supports important work to secure the financial future for all Americans by advancing a more diverse and sustainable financial planner workforce and building a research-based, recognized body of knowledge for the financial planning profession. Support the Center.

  • Support the Richard B. Wagner Memorial Scholarship Fund: If you would like to make a difference in someone’s life by supporting the Richard B. Wagner Memorial Scholarship Fund, please visit the Fund’s webpage, or contact Rochelle Zeidman, Managing Director of Development, CFP Board, at rzeidman@CFPBoard.org.

  • Support the Eleanor Blayney Gender Diversity Challenge Fund: As part of her tireless efforts to encourage more women to join the financial planning profession, former Center Special Adviser on Gender Diversity Eleanor Blayney, CFP®, recently made a $100,000 gift to support the Center’s gender diversity initiatives and has challenged others to help match her contribution. We thank all the donors who already contributed over $90,000 to the fund and invite you to help us reach the challenge.  Learn more about the Challenge Fund

We are very pleased to report that the Center’s Capital Campaign has raised $10.2 million in gifts and pledges through July 12, 2018. A listing of our corporate sponsors and donors is available here. Their generous contributions will provide important support for the Center’s ongoing efforts to grow, diversify and sustain the financial planning profession.

To make a tax-deductible donation to the Center, please click here or contact us at 800-487-1497. If your company is interested in sponsoring the Center, please contact Rochelle Zeidman at rzeidman@cfpboard.org or 202-379-2255. One hundred percent of your contribution will go toward funding the Center’s programs.


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