While I believe that if you fit my definition of a real financial planner you should become a CFP professional, I understand for some of you that’s a big ask at this point of your career. I encourage you to do so anyway or at least help someone else earn the right to use the marks. For example, support your staff’s efforts, mentor others, or fund a scholarship.
Regardless of designation, if you believe financial planning should be a profession in the eyes of the public, I urge you to join the Financial Planning Association (FPA) and (not or), if you are fee-only, join the National Association of Personal Financial Advisors (NAPFA). I’ve been an FPA member since the '90s with a predecessor organization and a NAPFA member since 2000. I’ve benefitted in more ways than I can count.
I’ve also disagreed with something either organization has said or done virtually every year I have been a member, yet I have never considered dropping the memberships. If these groups did nothing else but advocate for making financial planning a true profession, the dues would still be a bargain.
The work that you real financial planners do for clients is more important than ever. No matter where debates about models, compensation or credentials go, don’t ever forget that. You can transform lives though your work. Change is an inevitable part of life. Keep serving your clients well and both they and you will thrive and not merely survive whatever is to come.
Dan Moisand, CFP, practices in Melbourne, Fla. You can reach him at [email protected].