I’ve received quite a few e-mails over the past two weeks regarding my June column on the CFP Board. Surprisingly, to me anyway, not one of them has been in support of the Board. Most have been from long time advisors, and one or two have even been from past Board members, who revealed that contrary to the opposition of many members, market share has always been the main focus of the Board.
These e-mails have reminded me of a conversation I had with Elissa Buie a couple of years ago. I ran into the past FPA chairperson at a reception two FPA national conferences ago. That must have been about the time the Board hired Sarah Teslik as CEO, so I asked Elissa what she thought about it. Her answer has stuck with me since. “You know, Bob,” she said with her soft Virginia drawl. “Frankly, I just don’t think that much about it. I’m just not sure how important the CFP Board is to financial planning anymore.”