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March 6, 2019
Welcome to the March 2019 OneFPA Network Monthly Round-Up! This monthly roundup provides updates about the OneFPA Network and recaps our nationwide Listening Tour, where we heard from members and leaders about the draft OneFPA Network plan. The Listening Tour was intended to spark open, thoughtful dialogue that will inform the ultimate OneFPA Network vision. The input we are gathering will be instrumental in shaping the OneFPA Network – and the future of the Financial Planning Association (FPA).
Where We Have Been—And Where We Are Going
As we look to build the premier financial planning association of the future, we rely on constructive input from our stakeholders to shape the best path forward. The Listening Tours we conducted between November 2018 and February 2019 provided valuable insight and the ingredients for a revised OneFPA Network plan.
of FPA chapters received outreach and information — and invitations to participate in a Listening Tour conversation
total Listening Tour meetings with chapters/groups of chapters
of FPA chapters participated in a Listening Tour conversation
We want to thank the following chapters for actively participating in the Listening Tour:
FPA of Michigan
FPA of Middle Tennessee
FPA of Minnesota
FPA of the National Capital Area
FPA of Nebraska
FPA of New Jersey
FPA of North Alabama
FPA of Northeast Florida
FPA of Northeast Ohio
FPA of Northeastern New York
FPA of Northern California
FPA of Northern New England
FPA of Orange County
FPA of Oregon & S.W. Washington
FPA of the Philadelphia Tri-State Area
FPA of Pittsburgh
FPA of Puget Sound
FPA of Rhode Island
FPA of San Gabriel Valley
FPA of San Antonio & South Texas
FPA of San Francisco
FPA of Silicon Valley
FPA of South Carolina
FPA of Southern Arizona
FPA of Southern Colorado
FPA of Southern Tier of New York
FPA of Southwest Florida
FPA of Southwestern Ohio
FPA of Spokane
FPA of Tampa Bay
FPA of the Suncoast
FPA of the West Valleys
FPA of Utah
FPA of Ventura County
FPA of West Texas
FPA of Western New York
FPA of Wisconsin
FPA of Austin
FPA of Central California
FPA of Central Florida
FPA of Central New York
FPA of Central Ohio
FPA of Central Pennsylvania
FPA of Central Virginia
FPA of Charlotte
FPA of Colorado
FPA of Connecticut - Fairfield County
FPA of Connecticut - Greater New Haven
FPA of Connecticut Valley
FPA of Dallas / Fort Worth
FPA of the East Bay
FPA of East Tennessee
FPA of Eastern Iowa
FPA of the Triangle
FPA of Georgia
FPA of the Greater Hudson Valley
FPA of Greater Indiana
FPA of Greater Kansas City
FPA of Greater Memphis
FPA of Greater Phoenix
FPA of Greater Rochester New York
FPA of Greater St. Louis
FPA of the Gulf States
FPA of Hampton Roads
FPA of Hawaii
FPA of Houston
FPA of Illinois
FPA of Iowa
FPA of Kansas
FPA of Kentuckiana
FPA of Long Island
FPA of Maryland
FPA of Massachusetts
FPA of Metro New York
FPA of Miami
What We Are Hearing
The FPA Board of Directors established an initial listening tour phase of December 2018 – February 2019, which has now concluded. We want to thank all of our volunteer leaders and members for taking the time to meet with FPA leaders to share feedback, thoughts, and opinions, and we want to encourage all stakeholders to continue sharing their input (view the ‘Next Steps’ section of this Round-Up to see how).
Throughout the process we have met with nearly every chapter board and held virtual events for members, chapter executives, NexGen leaders, and other stakeholder groups. Feedback has been robust and has covered a variety of viewpoints―from those who have voiced critical comments and questions about what FPA has proposed to those chapter leaders who have expressed their eagerness to get started with the new vision. What’s important is that all feedback has been welcomed and has been provided to the OneFPA Transition Task Force, which is now reviewing the feedback in order to make specific recommended changes to the draft plan that will be discussed by the Board of Directors at a March meeting.
As we have outlined in the January and February OneFPA Network Monthly Round-Ups, feedback has covered many areas of the draft plan, including staffing, accounting, sponsorships, dissolution of legal entities, and more. For this month’s Round-Up, we wanted to cover a few new areas where critical questions have popped up, including governance, chapter autonomy, and member recruitment.
Here’s a look at the questions we are hearing on these topics along with additional detail and clarification about each issue.
Question/Concern: Some chapter leaders have expressed concern about how the OneFPA Network will impact future chapter board composition and whether or not the creation of a ‘OneFPA Council' will be too unwieldy to be effective.
Clarification: Chapter boards safeguard the day-to-day operations of chapters and make sure they are running smoothly while developing programming to drive the value of membership locally. Under the OneFPA Network draft plan, chapters will continue to determine the needed volunteer leader roles and composition of their boards since they know what is needed to oversee chapter operations and programs. As for the development of a ‘OneFPA Council’, the final construction of this body – and the role it will play – will be further designed through the work of the OneFPA Transition Task Force in the coming months. While we certainly recognize the size of this Council could provide some logistical hurdles, the exciting opportunity to bring more voices into the strategy-setting of the association far outweighs any potential challenges.
Question/Concern: Some chapter leaders have expressed concern that the centralization of certain functions will jeopardize the local ‘flavor’ each chapter currently enjoys and will impact the ability of chapters to make decisions that are right for them and their members locally.
Clarification: FPA appreciates that every chapter has unique needs and that programming is conducted to provide members value locally. While certain functions will be centralized, including technology, accounting, and staffing, chapters will be empowered to provide the programming and services their members value without interference from FPA nationally. Through the OneFPA Network, the goal is to provide chapters with enhanced support that will inform the decisions chapters make – not to say what chapters can and cannot do. Each chapter needs to maintain the uniqueness of their programming and FPA will ensure that is clearly articulated in the upcoming revised draft plan.
Question/Concern: Some chapter leaders have expressed concern over the inability of the association to grow the number of members and whether or not the OneFPA Network will have a positive impact in this area.
Clarification: FPA shares the desire to increase the number of members and that goal is one of the primary drivers for the OneFPA Network. While both FPA and the chapters offer meaningful benefits and have engaged in many member recruitment efforts over the years, these efforts have been too uncoordinated. Under the OneFPA Network, we have an opportunity to align what we do to make the value of membership more readily understood, seamless and enticing. By having FPA and chapters collaborate on a cohesive membership strategy, while communicating consistent messaging across the association and participating in member recruitment campaigns consistently, we can make the value of membership more accessible and relevant to those who are not yet members. And the development of a fully integrated technology platform that provides FPA and chapters a better understanding of where members are ‘plugging in’ to the many benefits and programs afforded by FPA – locally and nationally – will make it easier to design programming that serves the needs of more members.
Also, we invite chapter leaders to join us for a special virtual Overview of FPA Membership on March 13 at 2:00 p.m. EST. During this meeting, we will review the association’s membership trends, the work being done to recruit and retain members, opportunities for member recruitment integration and more. The recording of this meeting will be made available immediately following the event.
The OneFPA Transition Task Force is now reviewing all feedback collected from the Listening Tour and is working to determine what changes, if any, are needed to the original draft plan and timeline. The Board of Directors will review the recommended changes in March and will announce the revised draft plan in April to all stakeholders. In the meantime, you are encouraged to learn more about the draft plan and to continue sharing any input you have through a number of channels:
Through the OneFPA Network microsite Discussion Board
Through the discussion on the All-Member Open Forum
Through email at OneFPANetwork@OneFPA.org
Thank you again to everyone who has made their voice heard throughout the process. Your input is critical to designing a revised draft of the plan that will serve the needs of our many chapter, communities, and members. Thank you!
OneFPA Network in the News
FPA Board Member Todd Stanard makes a case for FPA unification in this February 1 Financial Planning article. Click here to read it.
FPA's 2019 Chair Frank Paré explains why it’s critical to invest in building our profession in this January 18 Financial Advisor article. Click here to read it.
FPA of Greater Kansas City President George Fernandez, CFP®, recently penned an op-ed in InvestmentNews sharing his views about how the OneFPA Network frees up the chapters to deliver an exceptional member experience. Click here to read it.
2019 FPA President Evelyn Zohlen contributed an article to ThinkAdvisor detailing what the OneFPA Network is – and what it isn’t. Click here to read it.
Former FPA President and Chairman Dan Moisand outlines four pivotal changes to watch in financial planning – including the OneFPA Network – in 2019. Click here to read the article in Financial Advisor magazine.
InvestmentNews reporter Greg Iacurci talked to several stakeholders with varying views of the OneFPA Network in his January 14 story, Factions emerge in OneFPA overhaul. Click here to read it.
Meet the OneFPA Committees and Task Forces
Are you curious about the volunteers who are already working on the OneFPA Network plan details? The following committees and task forces are already up and running. Keep reading to learn more about the volunteer groups and the individuals who are responsible for making it a reality.
The OneFPA Transition Task Force
The OneFPA Transition Task Force oversees all aspects of the development and implementation of the OneFPA Network. Currently, the focus of the Task Force is to monitor and assess the feedback we are receiving from FPA stakeholders with the goal of reporting potential modifications to the Board of Directors. The following volunteer leaders comprise the Task Force for 2019:
Mike Shockley, CFP® - FPA of Dallas/Fort Worth (Chair)*
Juan Munoz, CFP® - FPA of Houston
Howard Pressman, CFP® - FPA of the National Capital Area
Alexandria Cole - FPA of Northern California and NexGen Representative
George Fernandez, CFP® - FPA of Greater Kansas City
Nathan Greene, CFP® - FPA of Middle Tennessee
Kian Nobari – FPA of San Francisco
John Crosby, CFP® - FPA of New Jersey
Kimberly Bridges, Ph.D., CFP® - FPA Greater Kansas City*
Todd Stanard, CFP® - FPA of New Jersey*
Martin Seay, CFP – FPA of Greater Kansas City*
Dennis Moore, CFP® - FPA of Dallas/Fort Worth*
Karen McDade, CFP® - FPA of Greater Phoenix*
Dick Power, CFP® - FPA of Massachusetts*
*FPA Board Designee
The OneFPA Technology Task Force
The OneFPA Technology Task Force oversees the development and ongoing supervision of the OneFPA Technology Solution and other integrative OneFPA Network technology solutions. The OneFPA Technology Solution is the integrated technology and content platform designed to provide a one-stop location for information, content and all things FPA, which is intended to create a simpler and elevated member experience, brand consistency and message clarity. The following volunteer leaders comprise the Task Force for 2019:
Chris Draughon, CFP® - FPA of Northeast Florida (Chair)*
Kate Dore - FPA of Middle Tennessee
Karl Frank, CFP® - FPA of Colorado
Carole Bobke - FPA of Orange County
Jessica Hawthorne - FPA of Minnesota
Molly Balunek, CFP® - FPA of Northeast Ohio*
Kimberly Bridges, Ph.D., CFP® - FPA of Greater Kansas City*
Dan Skiles - FPA of San Diego*
*FPA Board Designee
OneFPA Technology Task Force Update
By Chris Draughon
The following summary is meant to provide our members, volunteer leaders and chapter executives with an update on the progress that has been made with the technology component of the OneFPA Network. While not exhaustive, I want to provide readers with a sense of what has transpired to date, where we are now, and what’s ahead for the near and long term.
The purpose of the OneFPA Technology Task Force is to oversee the development and ongoing supervision of the OneFPA Technology Solution and other integrative technology needs. The Solution will provide a one-stop location for information, content and all things FPA leading to an elevated member experience through ease of use, brand consistency and message clarity.
The planned Solution has four key objectives:
Implement integrated systems and infrastructure aimed at creating an extraordinary member experience.
Support integrated strategies for greater efficiencies and effectiveness.
Remove unnecessary administrative burdens caused by fragmented technology systems and operations.
Align and integrate back-office systems to fully support the delivery of programs and services across the entire association.
What’s Been Going On
Since the OneFPA Network announcement in November, the Task Force and its partner Delcor, have been busy working through a discovery of the various technology, challenges and opportunities present within FPA’s current technology ecosystem. The discovery process has taken us to every corner of the association. Input from our volunteer leaders, chapter and home office staff have revealed a number of “problems” summarized in the following graphic.
Click to enlarge
It's important to note that this list is not arranged in any specific order. Each of these items were identified as a pain point that need to be addressed.
Where Are We Now
Living into the Solution will be no small feat. I want to give you a sense of the scope involved in realizing our objectives. As seen in the following graphic, there are many inputs, variables, systems and operations that will need to come together to be successful.
Click to enlarge
Coming out of the discovery process, the Task Force synthesized the information and has been preparing a set of recommendations that will be presented to the FPA Board of Directors in March. As of this writing there are six layers within the four key objectives mentioned earlier that will be addressed in the recommendations the Task Force will present:
Access and interactions present information and functionality to users across digital channels
Content aggregation and management that facilitates the dissemination of content using the COPE methodology (Create Once and Publish Everywhere)
Data integration and management provides access to data and operations to the network of users
Operational systems include software and systems―both existing and new
Analytic systems provide data analytics and reporting information to users based on their needs and responsibilities
Project support staff will implement and maintain the technology solution and users will be trained in how to effectively utilize it
This graphic helps visualize what the Solution could look like. While it is subject to change, I think its helpful to see the anticipated direction.
Click to enlarge
In this structure, every FPA constituent―regardless of where they are located or the device they use―would be able to connect through one portal that would open them up to all of the content applicable to them. Members will have a seamless digital experience with FPA and their local community. Volunteer leaders will be able to plug into best-in-class tools and have access to relevant information like never before, enabling them to elevate the value they provide to members in their communities. With an aligned and integrated Solution, staff (local and national) throughout the association will be more effective at doing what they do best―leading to an elevated member experience.
Once the Task Force presents our recommendations to the Board in March, our next step will be the prioritization of the recommendations along with accompanying project plans. This will include identifying and obtaining the necessary resources, developing appropriate timelines, and structuring an implementation plan that is flexible to the needs of FPA’s volunteer leaders and staff.
Its safe to say the Solution will not be fully implemented by the end of this year. And while the OneFPA Network draft plan indicated completion by 12/31/2020, the roll-out and maintenance of the Solution should be thought of as an iterative process. Expectations should be set that full implementation may not be met with the simple ‘flip of a switch’, but rather over time with conscientious improvements implemented prudently.
As the Task Force moves forward, it is our intent to keep you updated along the way. We are currently planning to host a virtual meeting this summer to provide you with our next update. Chapter leaders should look for an invitation to register in the coming weeks.
In closing, I’d like to address two questions I’ve recently been asked. First, will local communities be able to keep using the tools they are currently using today? The simple answer is―it depends. There may be tools in use today within FPA communities that meet the best-in-class standard we’re shooting for that can easily be integrated into the Solution, but we don’t know for sure since specific recommendations haven’t been finalized, nor has the work necessary to identify the tools been done yet. The second question generally pertains to communities asking about upgrading or replacing current tools or websites now. Here I would encourage volunteer leaders apply caution and prudence when it comes to spending significant chapter resources on tools that, at a minimum, have a chance of changing within the next 12 to 20 months. Unless it is absolutely necessary, I would not spend member money on those tools until there is clarity on what will be changing and when. The Task Force is working hard to get to the point where we can answer these questions. Our goal is to do so with our next update this summer.
Chris Draughon, CFP®
Board Member and OneFPA Technology Task Force Chair
Continue the Conversation
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Information about the OneFPA Network
Read the latest OneFPA Network Plan
Review the OneFPA Network Summary
Review the FAQs
See what your FPA peers are saying
Learn about the investment FPA is making in the OneFPA Network in 2019