CFP Board Rolls Out Advisory Firm ‘Roadmap’

The Certified Financial Planner Board of Standards has released two new resources for firms to help them develop their financial planning capabilities and support their advisory professionals.

The first is called Designation Policy to Designation Strategy—A Roadmap for Firms. It urges firms to be intentional in the designations and certifications they approve.

The second, a Resource Guide for Firms, provides firms with ways to engage with the CFP Board and its Center for Financial Planning to support and grow their CFP population.

Kevin Keller, CFP Board CEO, says the resources will support his organization’s mission of helping advisory firms grow their workforce while increasing the access Americans have to competent and ethical financial planning.

“In creating these resources, CFP Board aims to help firms equip advisers with the skills and education they need to meet clients’ changing needs,” he adds.

The CFP Board says the designation policy roadmap “addresses the emerging trend of advisers pursuing credentials simply for the sake of having letters behind their name.” To this end, the roadmap outlines how firms can evolve their financial planning services into a quality offering by “moving from a designation policy to an intentional strategy that focuses on the skills and knowledge advisers need to become competent financial planning professionals.”

The resource guide describes the full suite of services firms can expect to receive from CFP Board and the Center for Financial Planning to build out their financial planning programs. The guide offers information on such topics as how to leverage the CFP Board’s corporate relations team within an increasingly competitive landscape and how the Center for Financial Planning can help firms attract and retain talent and diversify their workforces.