Uniting and Building a Profession

April 2004

By Gib Kerr, QFP, CFP, ChFC, CLU – IAQFP Co-Founder

Harold Evensky’s letter in your April 2004 edition denouncing Paul League’s observations of damaging decisions and actions made by the CFP Board is in keeping with the unfortunate Board attitude that Paul’s comments had highlighted. Another example of this same misguided response to constructive comment was the David Dieslin piece (“CFP Board Has A Mission” also in your April 2004 issue). David was attempting to dismiss an excellent attempt by Dick Wagner to point out a solution to misguided actions by the Board. Neither Harold nor David acknowledged any errors on the part of the Board at all. Instead they simply dismiss these comments and engage in Harold’s abusive accusations and David’s changing the subject.

Reference is made to the Board’s beginnings in 1985. The CFP^® movement began in 1969 and worked constructively for many years. What happened in 1985 was a reconstruction of a successful organization, one that provides the Board with virtually unlimited authority and little or no accountability. The psychiatric profession has written volumes on how such a structure breeds mistakes and abuse. Dick Wagner’s comments were pointing out a history of some of the problems that this has caused both for the CFP Board and the FPA. Paul League was accurately doing the same thing. The Board’s reaction is classically in line with the psychiatric theory.

IAQFP is the ONLY organization attempting to unite and identify the Financial Planning profession for the benefit of the public. The CFP Board, which represents less than one third of the profession is, because of its structure, a self-serving organization run by a group of intelligent and respectable individuals who, as result of their structure, are continuing to abuse their authority, their constituents and the public. Their attacks on anyone who points out errors or suggests a better path are further proof of that. Blinded by their system of authority and lack of accountability they are unable to evaluate and consider opinions other than their own. This nation got rid of that kind of structure over two hundred years ago. The CFP Board refuses to even acknowledge their dedication to it today. The FPA was formed in the same mold. IAQFP opted instead for an open governance benefiting from the opinions of all constituents.

Until and unless these organizations change their structure, and thus their attitude, Paul and IAQFP will continue to build an alternative that serves everyone effectively, fairly and equally. Financial Planning professionals interested in learning more should look up www.IAQFP.org.