Dear FPA Member and Colleague –
As your membership organization, we keep a close watch on many issues that are important to our profession and to the health and future of FPA. We are fortunate to have had much success in our short existence and continue to break barriers, set high standards and be the consistent advocate for the financial planning community on issues in regulatory, legislative and media circles that affect you and your practice each day. We believe we are fulfilling our core commitments to you in positioning, assisting and representing FPA members and the financial planning profession.
To say that FPA has not faced significant challenges over the past few years would be disingenuous. We have. We are aware of the recent commentary in the financial services media and other circles about our efforts and performance. It is our belief that very little is gained by FPA in engaging in a public war of words. We felt it was more important to spend our time communicating directly with you, our member.
We have lost members for a variety of reasons, but largely driven by the unprecedented recent economic challenges which many of us in the financial planning community have faced. It has been difficult and challenging for FPA to maintain core member programs and benefits with a significantly smaller staff and budget, yet we have persevered. Our membership has stabilized. It has caused us to review, re-examine and reconsider our vision and purpose as an organization and what matters most: to make sure we are in touch with the needs and wants of our members. (Note: Click here for a brief visual of member testimonials about why FPA matters more than ever.) We have done that and have come out of that examination undaunted that our core beliefs in advancing financial planning as a true profession remain significant guideposts to our success today and in the future. We maintain our belief that FPA, as a community, is at its best when we bring together those who deliver and support financial planning under a universal and unambiguous Standard of Care for the ultimate benefit of the public who seeks access to financial planning. We continue to support the CFP® certification framework for the values and standards we believe to be critical for establishing a true profession of financial planning. We remain compensation- and business-model neutral with the belief that all who practice financial planning can be serving their clients first and always as fiduciaries.
As much as we seek to be clear about our positions, they are often misinterpreted and skewed by others and cause some to waver in their continued support of our organization. The one thing that remains consistently clear about FPA is that it is the only membership organization that has consistently championed the development and recognition of financial planning as a true profession from day one. We will continue to do so.
FPA is different than other organizations. Our members are those who support the larger vision championed by FPA’s founders to be the single community for those who need, support and deliver financial planning. Your membership dues are not underwritten en masse by a corporation. You do not pay us each year because a licensing or certification requires you to do so. You are here because you choose to be. No other financial planning organization can claim a voluntary membership of our size. Not even close. It starts at the local level. FPA’s national network of 95 local chapters share our vision of advancing the financial planning practice and profession, yet incorporate their own local nuances and strengths to achieve success. FPA leadership recognizes the uniqueness that chapters bring to our community is unparalleled in the profession. Together, at the national and local chapter level, our members find ways to make FPA and our profession better by volunteering, contributing, supporting and creating – and most importantly, by being a part of something more lasting and influential.
FPA has ventured down paths that have proved difficult and produced expected –and unexpected – consequences. Truthfully, we are acutely aware of which challenges bested us and have learned from them accordingly. FPA is unique: we can’t ever imagine a time where risk-taking isn’t part of our core. FPA’s legacy is ultimately yours and we are all better served reminding ourselves of the tremendous foundation we have already built around knowledge, advocacy, leadership and community.
As you may know, FPA engaged in a multifaceted organizational review this year where we actively spoke to dozens of our chapter leaders, members, industry professionals and staff. We are better informed about what you want and as importantly, the areas where the organization truly excels. Much of this will be reflected in our 2012-13 strategic plan, which will focus on enhancing member value and targeting new opportunities. The work behind the organizational review will continue in 2012 to focus on our vision, strategy, governance and leadership development.
In November, the FPA Board also recognized the continued leadership and vision of Executive Director and CEO Marv Tuttle by voting unanimously to extend his contract to June 2014. In years of tumult and unprecedented challenges, Marv’s stewardship of FPA has been invaluable and we are honored to have him continue to lead our organization.
If you have thoughts regarding this letter, please share them with me and other board members on FPA Connect in a new area set up especially for us to discuss important issues. Go here and join the FPA Board & Member Open Forum community to be part of the conversation. I have plenty of other insights that I would like to share with you about the promising future of FPA.
I’d like to end the way this letter began by saying “Thank You!” Thank you for the work you do. Thank you for being part of this great community. And, as importantly, thank you for being part of the solution to the life and money issues of this world. Enjoy your friends and families as we all celebrate the amazing gifts we are given during this short time we have here on this earth.
Sincerely yours,
Marty Kurtz
2011 FPA President
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