NU Online News Service, June 13, 5:55 p.m. – The Certified Financial Planner Board of Standards and the International CFP Council, both of Denver, say they want to create a new organization that would supervise CFP designation programs outside the United States.

The CFP Board would continue to administer the U.S. CFP program, but the new organization would promote and protect the designation elsewhere in the world starting Jan. 1, 2003.

A task force made up of four CFP governors and four International CFP Council members is laying the groundwork for the new international supervisory organization.

The task force has picked Ray Griffin, an Australian, to become the first international chair-elect. Griffin will also become chair of the International CFP Council in 2003, the CFP Board says.

CFP programs issue the CFP designation to certify the competence of financial planners who have taken a required series of courses, passed a rigorous financial planning test and gained a minimum level of on-the-job planning experience.

The CFP Board began running the CFP program in 1985, then founded the International CFP Council in 1990 to reach planners outside the United States.

Seventeen affiliates outside the United States now run CFP programs, and the number of non-U.S. financial planners holding the CFP designation has increased to 29,000, from 76, in the past decade, the CFP Board reports.