Deals & People February 21, 2025

CFP Board Launches Hall of Fame

The initiative recognizes those who have advanced financial planning for the benefit of the public.

Reported by

The Certified Financial Planner Board of Standards has launched the Financial Planning Hall of Fame, an initiative recognizing people who have made groundbreaking contributions to the financial planning profession. The nomination period runs through March 31. 

According to the CFP, the Hall of Fame will honor professionals, journalists, academics and policymakers who have helped shape financial planning, raised ethical standards and expanded access to financial guidance. 

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“The pioneers who have shaped financial planning didn’t just build a profession. They redefined what it means to truly serve the public,” CFP Board CEO Kevin Keller said in a statement. “Through their vision and innovation, holistic financial planning has become a powerful driver of financial security and personal well-being for more Americans.” 

Hall of Fame inductees will be selected based on their influence in areas such as improving financial accessibility, promoting fiduciary responsibility, advancing education and leveraging technology to enhance financial tools and services. 

Nominations are open to individuals both inside and outside the CFP professional community. The 2025 selection committee, made up of former CFP Board leaders, industry experts and academics, will review nominations before final approval by the CFP Board’s board of directors. 

The first inductees will be celebrated at the 2025 CFP Board Connections Conference in Chicago, scheduled for October 6 to 8. 

Compliance February 19, 2025

The Pension Specialists Breach Exposes Data of 71,000 Participants

The external system breach exposed participants’ names and Social Security numbers.

Reported by

The Pension Specialists Ltd., an independent retirement plan third-party administrator, experienced a data breach about one year ago, exposing the personal information of at least 71,443 people, according to a filing with the office of the Maine attorney general.

Affected retirement plan participants were notified on Friday about the breach. According to a letter sent to those affected, TPS experienced a network disruption on February 24, 2024, and immediately initiated an investigation on the matter and engaged with independent cybersecurity experts.

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The firm determined that certain files may have been accessed or required without authorization between February 18, 2024, and February 20, 2024. The company then conducted a “comprehensive review” of all potentially affected information to identify any personal information that could have been involved. The letter stated that the company determined on December 16, 2024 that personal information may have been exposed.

In the filing to the Maine attorney general, , and described the incident as an external system breach (hacking). There has been no evidence of the misuse, or attempted misuse, of ay potentially impacted information, the letter stated.

TPS has notified affected people that their personal information, including at least names and Social Security numbers, may have been stolen, according to consumer rights law firm Wolf Hadenstein Adler Freeman & Herz LLP, which is investigating the incident.

The TPA is also offering complimentary identity monitoring services through Kroll, including months of credit monitoring, fraud consultation and identity theft restoration. The exact number of months was redacted in the Maine AG filing.

According to its website, Machesney Park, Illinois-based TPS has grown to service more than 1,025 employer retirement plans, with services covering more than 30,000 plan participants with more than $500 million in assets.

TPS did not immediately respond to a request for comment.

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