Opening Session
Sponsored by:
Welcome
2013 CFP Board Registered Program Conference
Opening Session
Pathway to CFP® Certification:
Building Theory, Enriching Practice
Dr. Charles Chaffin
CFP Board
August 8, 2013
2013 CFP Board Registered
Program Conference
■ Student retention
■ Pathway to CFP® certification
■ Induction into the profession
■ Application of course content
CFP Board Registered Programs
New Registered Programs
■ Adelphi University
■ Saginaw Valley State
■ Arkansas State University
University
■ Grand Valley State
■ University of Missouri –
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University
Illinois State University
Indiana Wesleyan
University
James Madison University
Missouri State University
Penn State Erie, The
Behrend College
Pepperdine University
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Kansas City
University of Texas –
Arlington
Valparaiso University
Virginia Commonwealth
University
Widener University
Youngstown State
University
CFP Board Registered Programs
■ 112 Baccalaureate
■ 177 Certificate
■ 49 Graduate
■ 5 PhD
■ 343 Total programs
■ 51 Programs in development
CFP Board Registered Programs
345
343
341
339
337
335
333
331
329
327
325
2010
2011
2012
2013
CFP Board Registered Programs
2010
PhD
1%
2013
PhD
1%
Graduate
12%
Graduate
14%
Baccalaureate
28%
Certificate
59%
Baccalaureate
33%
Certificate
52%
CFP Board Registered Programs
2010
2013
Degree
41%
Certificate
59%
Degree
48%
Certificate
52%
Biennial Registration Renewal for CFP Board
Registered Programs
Biennial Renewal Objectives
■ Ensure that programs are meeting minimum
requirements (Criteria for CFP Board Registered Programs,
Updated Spring 2013)
■ Reflective process for faculty and
administration
■ Program advocacy instruments
■ Demonstration of commitment of institution to
CFP® Certification
Self-Assessment
■ Question #1: 270 Contact Hours
■ www.CFP.net/registeredprograms
Self-Assessment
■ Question #2: Is your current cohort required to
take the Capstone Course?
Self-Assessment
■ Question #3: Describe areas of strength for
your CFP Board Registered Program. This
could include faculty quality, assessment
strategies, learning experiences, student
placement data, etc.
Self-Assessment Results
Program Strengths
90
80
70
60
50
40
30
20
10
0
Self-Assessment
■ Question #4: Describe areas of weakness for
your CFP Board Registered Program. Areas
could include assessment strategies, learning
experiences, student retention, etc.
Self-Assessment Results
Weaknesses/Challenges
20
18
16
14
12
10
8
6
4
2
0
Self-Assessment
■ Question #5a: How have you identified these
areas? (Focus group, internal program
evaluation, student surveys or practitioner
engagement)
Self-Assessment Results
Identification of Strengths and Weaknesses
60
50
40
30
20
10
0
Student survey
Consultation with independent
board
Internal program eval
Alumni consultation
Self-Assessment
■ Question #5b: How do you plan on improving
in these areas?
Self-Assessment Results
Strategies for Improvement
30
25
20
15
10
5
0
Advisory
board
Institutional Engagement Social media
Marketing
with
practitioners
and
organizations
Shift in
delivery
format
Career Project-based Curriculum
resources
learning
change
Mentorship
program
Self-Assessment
■ Question #6: Are you using Student-Centered
Learning Objectives in your program? If so,
how?
Self-Assessment Results
Use of Student-Centered Learning Objectives
60
50
40
30
20
10
0
Given directly to students
Included in syllabi
Incorporated into projects/curriculum
Self-Assessment
16. Disability Income Insurance (individual)
a. Describe differences between short-term and
long-term disability plans and identify the policy
provisions that should be included in privatelypurchased disability policies.
b. Create a plan for meeting individual disability
income needs, in consideration of household
financial resources, and existing coverage
under employer plans, Social Security, and
disability income insurance options.
c. Calculate the tax implications of paying for and
receiving disability benefits.
Self-Assessment
■ Question #7: Is the institution encouraging
students to create a CFP Board Account? If
so, how?
Self-Assessment Results
Encourage Creation of a CFP Board Account
35
30
25
20
15
10
5
0
Included in publication/correspondence
Discussion/career counseling
Faculty encouragement
Creating a CFP Board Account
■ Account creation is free. Simply complete the
■
form and submit.
www.CFP.net/account
Self-assessment
■ Question #8: Please feel free to discuss any
other strengths of your program. This could be
related to student retention, experiential
learning, practitioner engagement, etc.
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Case-based approach
Faculty interaction yielding to learning across
the curriculum
Student retention
Practitioner engagement
Renewal Status
2013-2014 Renewal Timeline for CFP Board Registered Programs
The following graph illustrates the deadlines for incomplete applications:
Incomplete Registration
o 1-30 Days After Renewal Deadline
o No access to Online Education Verification System
Temporary Suspension
o 30-45 Days After Renewal Deadline
o Program Information is removed from CFP Board
webpage
o No access to Online Education Verification System
until registration is confirmed
Deregistration
o 45 Days After Renewal Deadline
o Institution will need to complete an Initial
Application in order to house a registered program
o Current students will not be eligible for CFP®
Certification relative to Education requirement
o No access to Online Education Verification System
until registration is confirmed
Education Verification System
■ Thank you
■ education@cfpboard.org
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For student-related inquiries
■ registeredprograms@cfpboard.org
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For program-related submissions and inquiries
Student Completion Initiative
Student Completion Initiative
■ CFP Board will provide a list of individuals from
each institution who have taken the exam
■ CFP Board will be engaging individuals who
have met the education requirement regarding
completion of CFP® Certification
■ CFP Board will provide yearly reports to
institutions regarding past graduates relative to
CFP® certification
Student Completion Initiative
CFP Board will provide data to each institutions relative to the following areas:
Student Completion Initiative
■ Effective December 2011, the names of all
individuals who have completed a CFP Board
Registered Program are submitted to CFP
Board
■ Institutions who are interested in exploring
graduates prior to December 2011 can submit
names to be analyzed.
■ We will work together to discover ways to
increase number of students who move
forward with certification process
Financial Planning Competency
Handbook
What’s in the book:
General Objectives
78 Topics
■ What a financial planner needs to know
■ What a financial planner does
■ When a financial planner needs to do it
Audiences
■ Practitioners
■ Students
■ Faculty
■ Practitioners within related disciplines
What’s in the book:
What a Financial Planner needs to know
Part I
78 Topics
■
Content diagram
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Introduction/historical overview
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Student-centered learning objectives
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Instructional resource
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Professional Practice Capabilities
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Vignettes
What’s in the book:
What a Financial Planner does in Practice
Part II
Domains
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Introduction of the domain/process
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Rationale
 Importance for the practitioner and client
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Techniques
 Avenues for achieving specific course of action
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Vignettes
 Contexts where these actions occur within practice
Contributors
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Kristy L. Archuleta, PhD, Kansas State University
Naomi Boyd, PhD, West Virginia University
Sonya L. Britt, PhD, CFP®, Kansas State University
Elissa Buie, CFP®, Golden Gate University
Sharon A. Burns, PhD
Swarn Chatterjee, PhD, University of Georgia
Martie Gillen, PhD, University of Florida
John Gilliam, PhD, CFP®, Texas Tech University
John E. Grable, PhD, CFP®, University of Georgia
Michael Gutter, PhD, University of Florida
Vickie Hampton, PhD, CFP®, Texas Tech University
Don L. Harrington, LLB
Andrew Head, CFP®, Western Kentucky University
Webster Hewitt, CFP®
Deena Katz, PhD, CFP®, Texas Tech University
Lance Palmer, PhD, CFP®, University of Georgia
Jorge Ruiz-Menjivar, University of Florida
Ronald A. Sages, PhD, CFP®, Kansas State University
Martin C. Seay, PhD, Kansas State University
Thomas Warschauer, PhD, CFP®, San Diego State University
Kenneth Wynn, University of Florida
Dave Yeske, DBA, CFP®, Golden Gate University
Charles R. Chaffin, EdD, CFP Board
MOOC
■ MOOC: Massive Open Online Course
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Online learning platform combining masterybased learning principles with video lectures,
interactive content and a global community of
peers, offering students from around the world a
unique online learning experience accessible to
anyone for free
Financial Literacy and Planning
■ Designed to provide an overview of basic topic
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areas relative to personal financial planning
Broad applicability relative to diverse audience
Heavy focus on vignettes and personal
financial situations
Opportunity for individuals to learn more about
a career as a CFP® Professional and begin
process towards CFP® certification
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Benefit to CFP Board Registered Programs
Benefit to CFP® designation
Financial Planning Challenge
■ Engagement of students and faculty in the financial
planning process
■ A case with two clients and the student must present a
comprehensive financial plan
 Financial Planning Case Study (Written)
 Financial Planning Case Study (Oral)
 “How Do You Know Challenge?”
www.CFP.net/RegisteredPrograms
Financial Planning Challenge
Opportunity to highlight components of the learning
process
■ Case Study
■ Assessment Rubric
■ Oral and written component of a comprehensive
financial plan
www.CFP.net/RegisteredPrograms
2013 Financial Planning Challenge
Finalists
■ 14 participating institutions in 2013
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Great exposure for program, college, and
institution as a whole
Positive learning experience for students
Great networking opportunities for students
(career) and program (resource support from
firms)
Public Awareness Campaign
Toolkit
Increasing public awareness is central to CFP Board’s
mission. In November 2010, CFP Board’s Board of
Directors authorized the organization to proceed with
a multi-year public awareness campaign to raise the
awareness of CFP® certification. The campaign
includes a toolkit of resources that CFP® professionals
can use in their local communities to extend the reach
of the campaign, and updates from CFP Board on the
progress of the campaign.
Find the toolkit at www.CFP.net/toolkit
Marketing Materials
■ Digital Copies available on flash drive and at
www.CFP.net/RegisteredPrograms
Career/Advising Center Contacts
registeredprograms@cfpboard.org
CFP Board Education
Fall Webinar
September 25
1:00pm EDT
Resources
Information and Resources:
www.CFP.net/RegisteredPrograms
Sample Exam Items:
www.CFP.net/sample-exam-questions
Communicate:
LinkedIn subgroup for Registered Program
Directors and Faculty
http://bit.ly/RPLnkd
This presentation is available at
www.CFP.net/RegisteredPrograms