The FPA is now brought to you by MetLife, for better or worse
The insurer's cash is the good news but some see it as tainted money
Related Moves
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Alan Moore is the No. 2 busiest man in the RIA business and he just convinced the No. 1 busiest man to budget $200,000 to hire a 'rockstar' to replace him
Alan Moore is CEO of both XY Planning Network and AdvicePay -- and he has three young kids; Michael Kitces agreed to let him hire a full-time replacement CEO for AdvicePay -- with some giant reqirements for the new exec.
February 14, 2023 at 3:15 AM
Five RIA Doubletakes: An RIA-only law firm breaks away • Kitces launches picker of 'best of breed' RIA software bundles • Vanguard targets 2070 just as media targets TDFs • SEC fishing for RegBI Scofflaws, including RIAs • CFP appoints first African-American chair
RIA Lawyers will reject RIA custodians• Kitces Nascar montage is now interactive and helpful • Vanguard's super long TDF draws critics• SEC supply lines are stretched with new battle front • Kamila Elliot is ex-DFA, diverse and calling CFP shots
January 12, 2022 at 3:13 AM
Michael Kitces and Adam Birenbaum are now on the same $50-billion Buckingham team after the blogger called the young CEO with a multi-pronged proposal
Kitces is leaving Pinnacle - after 17 years - for fewer conflicts and more opportunity
March 12, 2020 at 1:45 PM
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Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh
Financial Planning Association
Association
Top Executive: Lauren S. Schadle, CAE, Executive Director and CEO
Kitces.com
Consulting Firm
Top Executive: Michael Kitces
Jeff McClure
Hmmm, so they are supporting the “CFF” practitioner? Certified Financial Fundraiser?
The term “fiduciary” is being stretched a bit here. Somehow having a financial product vendor paying an undisclosed sum to an organization that claims to be a fiduciary adviser seems to be rather seriously out of bounds. Perhaps though it does represent where the majority of people providing “financial planning” really are. If one considers that NAPFA only has about 1,400 registred members, and some of them are clearly receiving compensation for and from the sales arena, while the CFP Board claims 70,000 or so “certificants,” the vast, vast majority of whom are primarily compensated by some form of sales commissions, the FPA’s decision to belly up to the trough is just a representation of the status of financial planning in general and the real meaning of “financial planner.” The ICFP tried the pure approach, and it is gone. NAPFA is trying it but finding mighty few takers.
Actually, way back in 1982 when I first came into “the business,” my branch manager who was one of the very first <a rel="nofollow" title="r">CFP</acronym> planners in this part of Texas spoke a foundational truth. “The purpose of personal financial planning is to get full disclosure of all of a customer’s investable assets and commissionable needs. The end result of financial planning is that the planner makes a lot more money than a regular securities salesman.” That is pretty much what it says on the CFP Board’s website too. </a>
Mister RIA
Can you imagine the AICPA or Bar Association being sponsored by and insurance company? Pathetic. I hope NAPFA steps up and nabs all the fiduciary CFP’s from the FPA. Basically FPA is splitting apart into the ICFP and IAFP again. Let it happen, please.
