The Financial Planning Association and Certified Financial Planner Board of Standards have formalized their collaborative relationship.
As part of an agreement announced Tuesday at the FPA’s annual meeting in Nashville, Tennessee, the FPA will encourage its members to contribute to the CFP Board Center for Financial Planning and become more involved in its programs, and the CFP board will encourage CFP professionals to become FPA members. Both organizations will work together to ensure that they neither compete nor duplicate each other’s efforts.
“The cooperation between our organizations will allow us to fully embrace the important roles we each play,” said 2017 FPA President Shannon Pike in a statement.
Increasing the number of FPA members is a “big piece” of the formalized collaboration, she said in a meeting with reporters.
The FPA currently has more than 23,000 members, almost three-quarters of them CFPs. Nearly 79,000 financial planners hold the CFP certification.