Last week, the CFP Board launched its new Career Center, an initiative announced last fall as part of the organization’s ongoing efforts to support a pipeline of talent coming into financial planning. And while the effort itself to support the growth of financial planning is admirable, though, the $350-per-job price point of the CFP Board’s new initiative makes it clear the initiative is about financial expansion and growth of the organization as well, continuing its ongoing trek of competing more and more overtly with membership associations like the FPA and NAPFA.
In fact, the CFP Board’s new Career Center raises significant concerns about its ever-growing footprint beyond its scope as a non-profit organization established primary to grant the CFP marks and uphold them as a recognized standard of excellent. After all, while any other organization that offers or launches a financial planning Jobs Board must struggle just to obtain a list of potential CFP certificants just to reach them – which the CFP Board has long refused to share or make available except on a limited or costly basis – the CFP Board will engage in this potentially-highly-profitable endeavor by using its own list of 71,000 CFP certificants (plus not-yet-CFP candidates!) for marketing purposes!
Why has the CFP Board launched a premium Job Board that could generate unrelated business income tax for the organization, and is competing against its supporting membership organizations like FPA and NAPFA, instead of simply supporting them in return?