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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.

100%

of FPA chapters received outreach and information — and invitations to participate in a Listening Tour conversation 

75

total Listening Tour meetings with chapters/groups of chapters

of FPA chapters participated in a Listening Tour conversation 

87%
  

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.

 

Governance 

 

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.

 

Chapter Autonomy
 

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.

 

Member Recruitment
 

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.

Next Steps
 

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:
 

  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.

Purpose
 

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

 

Picture1.png
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

 

Picture2.png

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

 

Picture3.png

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.

What’s Next

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.

Respectfully,

 

Chris Draughon, CFP®

Board Member and OneFPA Technology Task Force Chair

 

 
 
  

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