Feeling an urgency to assert itself more strongly among policymakers and regulators, the CFP Board is moving its business operations from Denver to Washington, D.C. The shift comes at a time when policymakers and regulators in Washington are debating myriad issues that affect consumers--particularly retirement and federal government-run financial literacy programs--says Karen Schaeffer, chair of the CFP Board's Board of Directors, and the Board "would like to participate in those conversations."
Having a foothold in Washington will enable the Board to more effectively fulfill its mission of providing the public with the most competent and ethical financial planning advice available, Schaeffer says, and also ensure the future success of the organization.
To allow for a seamless transition, the Board, for now, "will remain fully operational in Denver until it's ready to move," Schaeffer says, adding that she anticipates the transition to be completed sometime in the fourth quarter of this year. Because "there will be a change in the organization," she continues, "we are developing the organization from a staffing point of view," and all of the Board's 40 employees in the Denver office will be able to apply for jobs in Washington.
Being headquartered in Washington should help quell complaints among some CFPs that the Board has been less effective than it could be in its attempts to affect policymaking on the federal level thus far, and should go a long way in helping the Board to promote the CFP brand.