Real Relationships Convert Conversations to Connections
Early success, new pathways attract and buoy new advisors
sequently, the university is integrat- ing its CFP® exam, FINRA and SEC test preparation courses alongside its traditional curriculum. Curiosity about managing their own money is a powerful draw for high school students in Columbus, said Mar- tina Peng, Ph.D., CFP®, department chair in Accounting, Finance, & Risk Management at Franklin University. Its Financial Literacy Camp, a collabora- tion with Huntington Bank, walks teens through key personal finance precepts while illustrating how CFP® profession- als work with their clients. Personal stories draw in peers who may be looking for context for their families’ financial experiences, espe- cially if they are first-generation stu- dents, said Preston Cherry, Ph.D., CFP®, founder of Concurrent Financial Plan- ning. He helps lead student programs at the University of Wisconsin at Green Bay. “If you can tie in your program that ties into the campus mission, like our fi- nancial wellness day for the entire cam- pus, it helps students get tied into their own money story,” he said.
Word is getting out on campus: Financial planning is an on-ramp to a world of possibilities.
BY JOANNE CLEAVER
There’s nothing like face-to- face conversations to build sustainable relationships. That same dynamic — widely acknowledged as fundamental for building a financial advisory practice — was in full force at the 2024 CFP Board Connections Conference. Over 600 practitioners, firm executives, industry experts, academics and students came together for a fast-moving flow of insights, forecasts and best practices. While the 2024 Connections Conference was Sept. 29–Oct. 1, in Washington, D.C, the 2025 Connections Conference is slated for Oct. 6–8 in Chicago. Melody Young, a candidate for CFP ® certification, traveled from California to Washington, D.C., in hopes of finding her next best career step. A high school math teacher for two decades, Young realized five years ago that she was ripe for a midlife career pivot. “I saw it on my parents’ faces, the importance of long-term planning,” said Young. Her first move: attending a conference geared for those new to the profession. Now, she’s building her own firm with the intention of focusing on families who need expert guidance in the intricacies of student loans. That specialty, she believes, blends her empathy for college-bound high school students and their parents with her ability to put loans in the context of the entire family’s investment in education, future earnings and family economic stability. “They have a problem I can help them with,” she said. Finding colleagues with similar backgrounds and seeding relationships with those who have complementary experiences and skills, advisors at every point in their careers build bonds with those who share commitments to clients and to the values that perpetuate the profession’s credibility and service.
The 2024 CFP Board Connections Con- ference swarmed with students eager to meet employers, mentors and industry luminaries. And standing-room-only sessions outlined proven and promising practices for amplifying the presence of the profession at colleges, universities and even high schools. The more practical a program, the more popular it is with students, said Caezilia Loibl, Ph.D., CFP®, professor, Chair of Consumer Sciences at The Ohio State University, and director of its CFP Board Registered Program, in a breakout session. “Community proj- ects have done wonderful things for us,” she said. “It’s eye-opening for our 20-year-olds who learn about finan- cial planning from internships or from their parents.” When students imme- diately transition into experts among their peers — just on the strength of in- troductory and intermediate courses — their motivation to pursue CFP® certification solidifies, she said. Con-
New advisors crave direction
New grads and career changers arrive brimming with expectations, said Jamie Kulik, CFP®, Senior Vice President for Fi- nancial Planning at LPL Financial. LPL
CFP Board Connections Conference speakers and attendees included clockwise from left: LeCount R. Davis, CFP ® , Board Director Richard Shaw, CFP ® , Michael Kitces, CFP ® , Matt Boersen, CFP ® , CFA ® , AARP CEO Jo Ann Jenkins, Kevin R. Keller, CAE, 2025 Chair-Elect Terri Kallsen, CFP ® and Jewel W. Davis.
has made the most of talent that arrived through corporate acquisitions and real- ized quickly that retaining new employ- ees required “branched career paths.” The more points of entry into financial advisory firms, the more destinations: Not all employees want to become busi- ness owners, Kulik said. Some envision corporate careers. Others hope to find their best and final fit as they grow pro- fessionally and explore adjacent roles. The key, she added, is to equip employees with ever-evolving skills and experiences so they can pursue next steps that fulfill their professional aspirations. Employers are also mining internal talent, said Michael Ayerov, divisional director for Wealth Management with JP Morgan. JP Morgan has launched a “pathway for bankers to transition
to advisor,” he said, while on a panel, through a structured program that equips them to manage products and planning tools. So far, so good: A f ter five years, 70% of program participants are staying the course. Vanguard is gaining momentum with a team approach that helps new advi- sors build a practice in a sustainable fashion, learning leadership along the way, said Sarah Becker, a manager with the Financial Advisor Development program at Vanguard. Collaboration, not competition, speeds new advisors’ confidence and results with business development, she told attendees in a breakout session. “Promotion velocity,” she said, confirms to new advisors that they are on the right track — and headed in the right direction.
Board Director Louis Barajas, CFP ® (left) and author Jannese Torres discussed wealth building and financial empowerment in the Latino community at the CFP Board Connections Conference.
Photos by Adam Auel
THE STANDARD
A LOOK AT 2024
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