Barry Kohler suggested I post this after he read it to another group I sent it to.
As a new FPA Board member in Seattle, Washington, and serving as Legislative Chair I inadvertently came upon the fact that the FPA and the CFP Board of Standards were two separate and distinct organizations. I never knew that before. I was confused. I knew FPA had legislative lobbying efforts. I also knew the the CFP Board of Standards had recently moved to DC. So..... I called both to seek clarification, sure that I would hear of the collaborative connection between the two.
I learned, or, the following was reconfirmed after making calls to both organizations:
FPA is a volunteer organization to which CFPs and others may join. FPA has a paid lobbyist. FPA understands the critical nature of lobbying and pursues this endeavor. I was shocked to hear how little money FPA has for this pursuit. As an editorial comment, if you are a member of FPA and are not contributing at least $10 to the PAC, don't cry, whine or complain about what happens on the hill. Understanding that $1,000,000 in PAC money just gets you in the door of respect but not yet to the table of "players" FPA isn't even close. That's terrifying to me if we want a profession. FPA is NOT EVEN CLOSE
CFP Board of Standards is a mandatory membership organization for a CFP who wants to maintain their CFP mark. Oh.... I thought...interesting. I have no choice BUT to be a member of the CFP Board of Standards if I want to hold myself out as CFP, both when I first become a CFP and then all continuing years. I asked if the Board of Standards lobbies. NO I was told. Then I asked the intent for the move to WA DC. To be nearer the Hill. Huh... I queried, puzzled at the seeming contradiction. I asked if there was collaboration between the CFP Board of Standards who cannot take PAC money and the FPA who can for lobbying efforts and do they agree on issues. I was told that the CFP Board of Standards does not lobby. I asked if any of my dues goes to legislative communications. Again, the CFP Board of Standards does not lobby. Hmmm... mandatory dues, WA DC, no lobbying, somebody help me out here. I asked if the CFP Board of Standards and the FPA collaborate on legislative issues.With the financial resources of the CFP Board of Standards and the day to day legislative authority of FPA, I thought this could be a strong partnership. I was told not at this time. My final question was to clarify who the CFP Board of Standards represented and was told the public. Hmmmm.... mandatory dues, WA DC, no lobbying, representing the public. I am a CFP. Who do I represent? The defining profession or the morphing public? Does it depend on the issue? Hmmm...
I have concerns. An organization with guaranteed revenue stream, located in DC who doesn't lobby and an organization with uncertain revenue, lobbies with little in their lobbying coffers. Hmmm... How can a profession work with two organizations who are separate ( in many meanings of the word)? What responsibilities does an organization have to members who are obligated to belong to that organization in order that they retain their mark? How can we help the two unify in direction and mission? Are each non-profits? Are there governances they have to abide by that make them more transparent to the members they have, such as mission, finances, annual reports, come to mind? I don't know. I seek clarification for the intent of holding in high esteem, a profession based on values and purpose.
In trust and respect
Bhaj Townsend CFP, CLU, ChFC, CASL, CWC