The Future of the Financial Planning Profession: Summary Notes from December 2019 Roundtable Discussion

 

On December 13, 2019, the day after the financial planning profession marked its 50th anniversary, CFP Board convened a Roundtable Forum, bringing together nearly a hundred leaders from across the financial advice ecosystem for a facilitated discussion focused on the future of the financial planning profession and the financial advice industry.

The Roundtable Forum and ensuing conversations not only fostered a greater sense of cohesion across the profession, as we outlined the beginnings of a shared picture of future success. Our collective input identified key factors that must be addressed in order to accelerate the development of a profession that is recognized and sought-after.

This summary report, prepared by the facilitator of our 2019 Roundtable Forum, Dr. Kathryn Ritchie of The Ignition Institute, documents the outcomes of the conversations and outlines initial steps for continued discussion.

CFP Board is committed to fostering a collaborative, profession-wide effort to address those factors. Our next step is to hold a follow-up Roundtable Summit later in 2020, to reconvene with a core group of key leaders across the profession, to re-evaluate our December 2019 conversation in light of recent events, and to move forward on developing a roadmap for the profession.

It is important for all of us in the financial advice ecosystem—collectively and individually—to continue our conversation about the future of the financial planning profession and advice industry.