Fall 2023 - A Look Ahead: An Update on NAPFA’s Strategies-Session recording

Video Transcription

Video Summary

Daphne Jordan, chair of the National Board, welcomed participants to the member update and outlined the agenda. Deva Panambur provided a financial update, reporting that NAPFA had exceeded its revenues and expenses budget for the fiscal year, resulting in a surplus of $32,468. Kelsey Brennan shared updates on membership, reporting a retention rate of 98.9% and 75 new members year to date. She also highlighted the sources of new members, including new NAPFA firms, the XY Planning Network, and members at existing firms. Daphne Jordan then provided an update on diversity, equity, and inclusion initiatives, highlighting various programs and resources available to members, such as conversation circles, mentorship programs, and the D&I training and certificate program. Dan Denford discussed NAPFA's advocacy efforts, focusing on issues such as the fiduciary standard of care, regulatory oversight, and the recognition and regulation of financial planning. Kayla and Allison provided an overview of NAPFA's communication efforts, including the Advisory Bureau, annual consumer survey, and sponsored placements. Zach Hubbard shared updates on professional development and education, including continuing education requirements, the NAPFA Learning Center, and upcoming events and partnerships. Catherine Dutomo provided an update on the NAPFA Foundation's initiatives, including building homes for heroes, advisors give back, and the College Affordability Project. She also highlighted the benefits of the foundation for NAPFA members, including free educational opportunities, resources, and opportunities to earn CE credits. The session concluded with a Q&A session, addressing questions about the definition of fee only and the acceptance of members with trailing commissions.

Keywords

Daphne Jordan

financial update

membership updates

diversity equity inclusion

advocacy efforts

communication efforts

professional development

NAPFA Foundation