September 2018 Newsletter

From the Desk of Marilyn Mohrman-Gillis, Executive Director

September 2018

Marilyn Mohrman-GillisThe early days of fall have found the Center team busily preparing for our first-ever Diversity Summit, coming up in New York City on October 23. 

We recently announced a distinguished group of speakers and participants who will be leading Summit discussion on the important topic of advancing racial and ethnic diversity in the financial planning profession. The Center’s comprehensive research study on the lack of diversity in the financial planner workforce and our upcoming thought leadership paper to be released at the Summit, will provide the foundation for this discussion and development of research-based solutions for creating a more inclusive profession. We are thrilled to feature these thought leaders at the Summit and look forward to what will undoubtedly be a day of insightful conversation.

The Summit has generated an impressive level of interest from all corners of the financial planning profession and beyond. We continue to encourage financial firm executives with roles related to fostering diversity and inclusion and leaders of influencer organizations able to reach diverse audiences to participate in the Summit. If you know such an individual or organization, please contact Eddy Demirovic at to recommend they be invited to the Summit.

We are grateful to the Diversity Summit’s Signature Sponsors, Merrill Lynch, the Charles Schwab Foundation and Fiserv, as well as Major Sponsors Prudential and Morgan Stanley for their generous support. Their contributions are making this incredibly important event possible.

The Diversity Summit represents the Center’s ongoing commitment to creating a more diverse and sustainable financial planning profession so that all Americans have access to competent and ethical financial planning advice. We hope you will join us for this seminal event, which will help shape the Center’s diversity-focused programming in years to come.

In addition to the Diversity Summit, we are pleased to announce that last week on September 19, the Center released the inaugural issue of Financial Planning Review, our new double-blind, peer-reviewed academic journal and the first of its kind in the financial planning profession. The Review features cutting-edge research from financial planning and related academic disciplines, and is designed to benefit CFP® professionals, firms, researchers, and the public. In the coming months, the Review will become a central component of our new Body of Knowledge website, which will also house interactive content addressing the practical implications of research published in the journal. Through these resources, the Center is elevating the rigor of the academic discipline of financial planning and enhancing its body of knowledge. 

As always, we appreciate your continued interest in the Center and support for our programs. We also invite you to visit our website for additional Center news and announcements.

Warm Regards,

Executive Director
CFP Board Center for Financial Planning


  • Agenda and Speakers Announced for Center’s Diversity Summit: The Center has released a robust agenda for our first-ever Diversity Summit on October 23, 2018 at the Times Center in New York City, which will include:

    • The release of our new thought leadership paper, highlighting key findings from a comprehensive study on the underrepresentation of blacks and Latinos in the financial planner profession, as well as recommended research-based solutions to address this issue
    • Keynote presentations from leaders of financial services firms and organizations focused on diversity
    • Personal reflections from black and Latino CFP® professionals on barriers and opportunities for people of color in the profession
    • Best practices in diversity and inclusion from experts in the field
    • Facilitated breakout sessions to allow attendees to reflect and commit to creating a more inclusive profession
    • Call to Action

  • View the complete agenda and speaker lineup here.

  • Inaugural Issue of Financial Planning Review Journal Released: The Center has published the first edition of its new academic journal, Financial Planning Review featuring peer-reviewed research within financial planning and related disciplines. The journal provides a home for financial planning faculty to publish research and build upon the financial planning body of knowledge. Review topics will focus on financial planning; portfolio choice; behavioral finance; household finance; psychology and human decision-making; financial therapy, literacy and wellness; consumer finance and regulation; and human sciences. Papers featured in the first edition include:

    • “Perspectives on Mental Accounting: An Exploration of Budgeting and Investing”
    • “The Relationship Between Financial Planner Use and Holding a Retirement Saving Goal: A Propensity Matching Analysis”
    • “Tightwads and Spendthrifts: An Interdisciplinary Review”
    • “Household Financial Planning Strategies for Managing Longevity Risk”

  • Learn more and read the inaugural issue here.

  • Extended Submission Deadline for Papers/Posters at February 2019 Academic Research Colloquium: The paper/poster submission deadline for the Academic Research Colloquium for Financial Planning and Related Disciplines has been extended to September 30. Download the Call for Papers and Posters for more information. The third annual Colloquium will be held February 19-21, 2019, in Arlington, VA and for the first time will feature three sessions designed specifically for practicing CFP® These sessions will focus on the implications of research to financial planning practice and will be led by distinguished speaker-practitioners. Additional information about the Colloquium, including registration and hotel information is available here. To learn about sponsorship and exhibiting opportunities, contact Beth Klein at

  • New CFP® Exam Scholarship Available to Black/African American Students: The Center has partnered with The American College to provide financial support for Black/African American students to take the CFP® Up to 15 scholarships will be provided each year to first-time exam takers. Students who received scholarships from The American College and graduated from its CFP Board Registered Program will be eligible. This partnership reflects the Center’s effort to create more pathways into the profession for people of color to help grow and diversify the financial planner workforce.

  • Milton Stern Scholars Fund Now Accepting Applications:Honoring the memory of Milton Stern, this scholarship provides financial support to eligible individuals who reside in New York, New Jersey or Connecticut and are currently enrolled in a CFP Board-Registered Certificate Program, or will matriculate in a CFP Board-Registered Certificate Program within 6 months. Applications will be accepted through October 1, 2018. Learn more and apply.

  • Center Participates in Industry Events and Meetings to Advance Diversity in the Profession: Over the course of the past three months, Center’s staff and volunteers participated in key industry gatherings in support of the Center’s diversity initiative:

    • Association of Latino Professionals for America (ALPFA) Annual Conference (July 31-August 2 in Las Vegas) – Center’s Diversity Advisory Group member Louis Barajas, CFP® spoke about the value of CFP® certification on a panel about finanical services careers, while Luis Rosa, CFP® joined the Center at the career fair to share his journey into financial planning with young Latino professionals.

    • Conference of African American Financial Professionals (August 6-8 in Washington, DC) – through a career fair and exhibit, the Center connected with attendees interested in CFP® certification at this annual event hosted by the American College.

    • North Carolina Agricultural and Technical State University Seminar (August 13 in Charlotte) – “I am a CFP® Pro” campaign spokeswoman Rianka Dorsainvil, CFP®, spoke with students about why financial planning makes a great career and shared tips and resources for getting started.

    • Association of African American Financial Advisors Annual Conference (September 11 in Atlanta) – Center Executive Director Marilyn Mohrman-Gillis took part in a Town Hall panel. She provided an overview of the Center’s diversity programs and invited participants to get involved.

    • InvestmentNews Women’s Advisor Summit (September 13 in Denver) – Kathleen McQuiggan, the Center’s Special Adviser on Gender Diversity, participated on a panel to share the Center’s research and resources on building a diverse and inclusive profession with women advisors.

The Sponsor Spotlight 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.

NextGen doesn’t always mean younger gen

Kate Healy
Managing Director, Generation Next, TD Ameritrade Institutional

TD Ameritrade InstitutionalMy definition of NextGen is different. To me, it means anyone who isn’t here now: women, people of color, LGBTQ, career changers, former military. In our graying industry, it’s pretty clear we need to explore untapped talent pools to meet the future need for financial planning.

That’s why I was so excited about the Financial Planner Reentry Initiative we started as part of the CFP Board’s Center for Financial Planning. As part of the Women’s Initiative, we teamed up with the career reentry firm iRelaunch in 2017. The aim of this program? Connect advisory firms with experienced professionals who had taken a break from the work force, whether for family care or other reasons, and want to re-start their careers. 

To me, this is pretty inspired thinking, understanding that an interrupted career doesn’t equal a lack of desire or ability. Instead, behind that gap on the resume could be someone who’ll make a lasting contribution.

The Financial Planner Reentry Initiative gives these candidates a path back in by helping firms establish internships for returning professionals — a good way to screen talent and increase the number of mid- to senior-level professionals on board. It builds out an underused talent pipeline and can also increase diversity, since a majority of those who’ve taken a break from a traditional profession are women.

The Center for Financial Planning, the sponsors (including TD Ameritrade), and the initial six firms with interns met regularly. For the participating firms it became a program they would fight for, one that brought valued new colleagues and even mentors to their teams.

I’m such a fan of this kind of support and sharing among firms that are technically competitors. It’s exactly what’s needed to move our industry forward. Because bringing more advisors into this profession to help more Americans get the financial advice they need is just that big.

Find out more about the Financial Planner Reentry Initiative here

Read my blog here for stories from two of the participating firms.

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. © 2018 TD Ameritrade

  • Expanded Mentorship Program Launching (October 3): Building upon our successful WIN-to-WIN Mentor Program that matched female CFP® professional mentors with aspiring women CFP® professionals, the new CFP Board Mentor Program will provide all candidates in the CFP® certification process with the option to connect with a CFP® professional for guidance and support. The new program will also offer additional matching options, including race and ethnicity. CFP® professionals are invited to volunteer as mentors and share their insights with a mentee seeking to attain CFP® certification and enter the financial planning profession. To learn more and express your interest in participating as a mentor or mentee, please email us at

  • Center Exhibit at the FPA Conference (October 3-4 in Chicago): If you are attending the annual FPA Conference, stop by the Center’s exhibit at Booth 830 to get the latest information on Center’s initiatives and opportunities to get involved.

  • Online Career Fair (October 3): Join us for our Fall Online Career Fair on Wednesday, October 3 from 1-5 pm ET, hosted by the CFP Board Career Center. The Career Fair will feature opportunities for financial professionals and employers to connect online in real-time.  Learn more.

  • Diversity Summit (October 23 in New York City): The Summit has generated an impressive level of interest from all corners of the financial planning profession and beyond. We still have space for financial firm executives with roles related to fostering diversity and inclusion, as well as leaders of influencer organizations that can promote financial planning careers to diverse populations. If you know of individuals or organizations that should be part of this conversation, please send them to the event webpage to register or refer them to Eddy Demirovic at

Participate in Center’s Programs

  • Share the “I am a CFP® Pro” Campaign with Schools and Alumni Organizations: The Center encourages CFP® professionals share your story about becoming a CFP® pro with young people through the “I am a CFP® Pro” campaign. In support of this effort, the Center has developed a new customizable presentation that highlights the benefits of the financial planning career, opportunities for young people, the CFP® certification process, and resources available to help young people along their academic and professional path. An accompanying handout is available as well. Please contact Eddy Demirovic at to express your interest in speaking to young people at local opportunities as they become available.

  • Promote Gender Diversity by Becoming a WIN Advocate: The Center is seeking CFP® professionals to become WIN Advocates and help raise awareness in their communities of financial planning as a rewarding career opportunity for women. Advocates receive a toolkit of resources from the Center, including presentations and handouts. Learn more and sign up to become a WIN Advocate.

  • Participate in the 2019 Academic Research Colloquium for Financial Planning and Related Disciplines: The Center invites practitioners, researches and students to participate in the third annual Colloquium on February 19-21, 2019, in Arlington, VA. Early bird registration and hotel information is available here.

  • Financial Planning Review Accepting Papers: Although the first issue is now published, Financial Planning Review is continuing to accept research papers on topics related to 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.

  • 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: Support aspiring CFP® professionals through the Richard B. Wagner Memorial Scholarship Fund, established jointly by the Center and FPA.  We are grateful to all of the donors who have helped us reach $198,000 of our $250,000 goal as of September 25. To make a difference in someone’s life by donating to the fund, please click here or contact Rochelle Zeidman, Managing Director of Development, CFP Board, at

  • 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 make a contribution. We thank all the donors who already contributed $91,000 to the fund and invite you to help us reach the challenge. Learn more about the Challenge Fund

The Center congratulates Karen P. Schaeffer, CFP®, former CFP Board Chair, Chair of the Center’s Campaign Development Committee, and Pinnacle Circle Donor, for being selected as the recipient of the Alexandra Armstrong Lifetime Achievement Award that will be presented at the 2019 InvestmentNews’ Women to Watch Awards luncheon.

We are very pleased to report that the Center’s Capital Campaign has raised more than $11 million in gifts and pledges through September 25, 2018. Thank you to our generous corporate sponsors and individual donors. A listing is available here. Their gifts 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 or 202-379-2255. One hundred percent of your contribution will go toward funding the Center’s 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. © 2018 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission. The third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments. The registered trademarks and service marks appearing herein are the property of FMR LLC. Fidelity Clearing & Custody Solutions provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. © 2018 FMR LLC. All rights reserved. 784358.1.0

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