Financial Freedom

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Apr 14, 2007

Certified Financial Planner Board of Standards

Certified Financial Planner Board of Standards Inc. (CFP Board), the leading professional organization for financial planning, announced today that after being situated for more than 20 years in the city of Denver, the organization plans to relocate its headquarters to the nation's capital.

CFP Board will transition its business operations from Denver, Colorado to Washington, D.C. over the course of the next several months, with the move likely to be completed in the fourth quarter of 2007. The organization will remain fully operational during the transition.

Karen P. Schaeffer, CFP®, Chair of CFP Board's Board of Directors, said: "The financial planning profession and the people it serves are being significantly impacted by public policy developments and trends in the financial sector that can best be monitored, influenced and managed from our nation's capital.

"Because these events have serious implications for all Americans, the organization feels it necessary to undertake certain strategic shifts to fulfill its mission to provide the public with the most competent and ethical financial planning advice available. We are convinced that having our headquarters in Washington, D.C. will enable us to more effectively serve the interests of the public as a whole," she said.

CFP Board has consistently advocated high professional standards for financial planners and emphasized its special responsibility to the public. With this in mind, the Board of Directors feels the organization must assert itself more vigorously as emerging policy debates in Washington influence the ability of consumers to make informed financial decisions.

"Sound and ethical financial planning advice is essential to the increasing number of Americans pondering retirement and other critical decisions that will impact their financial security and quality of life. As an organization dedicated to ensuring responsible financial planning for the public, a foothold in Washington, D.C. will allow us to advance our mission and promote our standards to protect the interests of Americans," Ms. Schaeffer added.

The Board's decision was based upon an ongoing review of how CFP Board could best respond to America's increasing need for CERTIFIED FINANCIAL PLANNER™ professionals. After careful study, the Board recently concluded that the future success of the organization was dependent upon its close proximity to regulators, policymakers, and other industry and credentialing organizations that influence debates within the industry.

CFP Board's transition plan will include steps to ensure that there is minimal disruption in service to those dependent on the organization's activities which includes over 54,000 certificants and more than 7,000 applicants each year.

The Board of Directors recognized the hard work and dedication demonstrated by its 40 Denver-based employees who have been instrumental in the growth of the organization and the success of the CFP® credential. Once the new staffing model has been formalized, current employees of the organization will have the opportunity to apply for a position in the Washington headquarters. The organization will provide compensation, support and incentives for those who choose not to exercise this option.

"We are extremely appreciative of the foundation CFP Board employees have provided to the organization through their contributions," said Ms. Schaeffer. "The Board would also like to express its gratitude to the city of Denver for its support throughout the years."

The mission of Certified Financial Planner Board of Standards Inc. is to help people benefit from competent, professional and ethical financial planning. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 54,000 individuals to use these marks in the United States.

Certified Financial Planner Board

Certified Financial Planner Board of Standards Inc. (CFP Board), the leading professional organization for financial planning, announced today that after being situated for more than 20 years in the city of Denver, the organization plans to relocate its headquarters to the nation's capital.

CFP Board will transition its business operations from Denver, Colorado to Washington, D.C. over the course of the next several months, with the move likely to be completed in the fourth quarter of 2007. The organization will remain fully operational during the transition.

Karen P. Schaeffer, CFP®, Chair of CFP Board's Board of Directors, said: "The financial planning profession and the people it serves are being significantly impacted by public policy developments and trends in the financial sector that can best be monitored, influenced and managed from our nation's capital.

"Because these events have serious implications for all Americans, the organization feels it necessary to undertake certain strategic shifts to fulfill its mission to provide the public with the most competent and ethical financial planning advice available. We are convinced that having our headquarters in Washington, D.C. will enable us to more effectively serve the interests of the public as a whole," she said.

CFP Board has consistently advocated high professional standards for financial planners and emphasized its special responsibility to the public. With this in mind, the Board of Directors feels the organization must assert itself more vigorously as emerging policy debates in Washington influence the ability of consumers to make informed financial decisions.

"Sound and ethical financial planning advice is essential to the increasing number of Americans pondering retirement and other critical decisions that will impact their financial security and quality of life. As an organization dedicated to ensuring responsible financial planning for the public, a foothold in Washington, D.C. will allow us to advance our mission and promote our standards to protect the interests of Americans," Ms. Schaeffer added.

The Board's decision was based upon an ongoing review of how CFP Board could best respond to America's increasing need for CERTIFIED FINANCIAL PLANNER™ professionals. After careful study, the Board recently concluded that the future success of the organization was dependent upon its close proximity to regulators, policymakers, and other industry and credentialing organizations that influence debates within the industry.

CFP Board's transition plan will include steps to ensure that there is minimal disruption in service to those dependent on the organization's activities which includes over 54,000 certificants and more than 7,000 applicants each year.

The Board of Directors recognized the hard work and dedication demonstrated by its 40 Denver-based employees who have been instrumental in the growth of the organization and the success of the CFP® credential. Once the new staffing model has been formalized, current employees of the organization will have the opportunity to apply for a position in the Washington headquarters. The organization will provide compensation, support and incentives for those who choose not to exercise this option.

"We are extremely appreciative of the foundation CFP Board employees have provided to the organization through their contributions," said Ms. Schaeffer. "The Board would also like to express its gratitude to the city of Denver for its support throughout the years."

The mission of Certified Financial Planner Board of Standards Inc. is to help people benefit from competent, professional and ethical financial planning. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 54,000 individuals to use these marks in the United States.

Certified Financial Planner.

A certified financial planner is a much-needed for all those who are looking to secure their financial future. There are a number of reputable governing boards that monitor the certification and the continuing education of these planners. These independent boards help make sure that each certified financial planner meets certain necessary requirements. With a certified financial planner, you not only get someone who has a established knowledge of financial planning, but one who has been trained in and is familiar with the ethical issues that surround financial planning.

For all those who wish to become a certified financial planner, one must go through extensive training and answer a test. Many certifications also require that their certified financial planners take a certain amount of continuing education credits in order to keep their credentials up to date. This generally consists of a class or two every year or so, just to keep their knowledge current and so that each certified financial planner can keep his or her skills sharp. Also, in order to become and keep certification, financial planners have to fulfill a certain set of rules and guidelines and act in good faith.

Taking on a certified financial planner has many benefits. With the services they offer you can start with confidence toward your financial goals. A certified financial planner will not only help you figure out how you are going to make payments for your home, send your kids to college, but even if you want have the luxury of retiring.

A financial planner who has been certified can also help you stay updated of all the latest news and trends and help you take advantage of the markets to maximize the returns on your investments. Every certified financial planner is trained to assist you benefit the most out of your financial situation.

Over the past couple of years, many people have become acutely aware of ethics violations among financial planners. Though many financial planners have pleaded ignorance when confronted with violations; for instance trying to get customers to buy a specific stock so that the value of their own stock would rise. While others admit that they simply didn't realize that they were doing anything wrong.

While no certification can guard completely against unethical behavior, a certified financial planner is required to go through extensive training in the law and ethics of financial planning. There are some things about financial planning that can seem morally ambiguous. Teaching a soon-to-be certified financial planner about the pitfalls can avoid problems later on. If you need a certified financial planner, finding one is as simple as asking friends and family to recommend someone. If someone close to you feels convinced and secure with the financial services they are receiving, you can feel confident in making an appointment to meet with them, so you can make your own determination.

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