JOINT TASK FORCE ANNOUNCES NAME AND STRUCTURE FOR GLOBAL CFP® CERTIFICATION PROGRAM
November 6, 2002, Toronto — A joint task force of the International CFP Council and Certified Financial Planner Board of Standards Inc. announced that it has chosen Financial Planning Standards Board (FPSB) as the name of the new international entity to administer the CFP certification program worldwide.
At a recent meeting in Rio de Janeiro, Brazil, the joint task force accepted the new name for the organization and introduced a formal structure for FPSB. The proposed structure includes a defined role for FPSB's Board of Directors, FPSB Council and appointed staff. FPSB's nine-member Board of Directors will act as the policy-setting and oversight body. FPSB Council will act as the advisory body to the Board of Directors representing the voice of 19 international associate and affiliate members.
"Determining the name and introducing the structure brings the vision of establishing a single global voice for CFP certification worldwide one step closer," said International CFP Council Chair-elect Ray Griffin.
"This is a historic time for financial planners, the financial planning profession and the global community of consumers seeking competent and ethical financial planning advice," said Rick Adkins, CFP, chair of the transition task force.
"Working together within this new unified structure can only make the CFP designation stronger in Canada and globally. We are excited about the future and the potential to build an even stronger foundation for CFP certification with our partners in Canada and around the world," said Don Johnston, president of Financial Planners Standards Council in Canada (FPSC), the second largest of 17 organizations awarding the CFP designation in their respective countries.
Two Canadians appointed to board of international entity:
It was also announced that Don Johnston will serve as chair-elect of the new international entity's advisory board, FPSB Council, in 2003 (see separate release, Nov. 6). Johnston will become a member of the FPSB Board of Directors in 2004 when he assumes his position as chair of the advisory Council. John S. Carpenter, past chair of FPSC, was elected to the inaugural FPSB Board of Directors, and will fill one of the four international directors' seats beginning 2003.
In addition to finalizing the proposed structure, the joint task force has completed FPSB bylaws and incorporation of FPSB. At its first meeting in January, the FPSB Board of Directors will elect a chair and chair-elect, ratify the decisions of the joint committee and complete such tasks as creating a governance model, finalizing affiliation agreements and appointing staff. The task force anticipates formally launching the organization early in 2003.
CFP Board, a non-profit regulatory organization, fosters professional standards in personal financial planning so that the public values, has access to, and benefits from competent financial planning. CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER® and federally registered CFP (with flame logo), which it awards to individuals who successfully complete initial and ongoing certification requirements. For more about CFP Board, visit www.cfp-board.org.
An international assembly of financial planning bodies, the International CFP Council was founded in 1990 to promote the professionalism of individuals and organizations offering financial planning services and to ensure that such services are offered in an ethical and competent manner throughout the world. The International CFP Council has members and associate members from 19 countries. Council members have authorized more than 72,000 individuals to use the CFP marks worldwide. For more about the Council, visit www.cfp-council.org.
Financial Planners Standards Council is a not-for-profit organization dedicated to benefiting and protecting the Canadian consumer by establishing and enforcing education, examination, experience and ethics requirements for financial planners who choose to earn the CFP designation in Canada. There are currently more than 14,000 planners licensed to use the CFP marks in Canada. See www.cfp-ca.org for further information.
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Media Contacts:
Eileen Chadnick/Chadnick Communications 416.631.7437 or
eileen@chadnick.com
Ann Bowman/FPSC 416.593.8587 x 225 or
abowman@cfp-ca.org
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