Financial Planning Association

Financial Planning Association

Investopedia / Sydney Saporito

What Is the Financial Planning Association?

The Financial Planning Association is a professional organization for financial planners. Based in Denver, Colorado, the Financial Planning Organization promotes education and professional ethics in the field while also helping potential clients locate qualified financial planners in their area.

Key Takeaways

  • The Financial Planning Association is a US-based professional association for financial planners.
  • It helps coordinate educational and professional development activities in the field.
  • The organization was formed in 2000 as the result of a merger between two other financial planning associations.

How the Financial Planning Association Works

The Financial Planning Association was created in the year 2000 through the merger of the Institute of Certified Financial Planners and the International Association of Financial Planners. Through its website, events, and publications, the Financial Planning Association helps educate the public about the importance of financial planning and the benefits of relying on a financial planning professional. The Financial Planning Association also promotes research in the field by publishing the peer-reviewed “Journal of Financial Planning”.

One of the central goals of the Financial Planning Association is to ensure a high level of professional competence and conduct among its members. In addition to promoting continuous education, the Financial Planning Association also publishes and maintains a professional code of ethics. Financial planners who are memes of the association are required to abide by this code in their dealings with the public. In particular, the code of ethics requires financial planners to provide their services with integrity, objectivity, competence, confidentiality, fairness, professionalism and diligence.

Of particular importance are the Financial Planning Association’s ethical standards relating to real or perceived conflicts of interest. To help navigate these conflicts, memes of the Financial Planning Association must provide impartial and thorough advice and disclose to clients any potential conflicts of interest. They cannot disclose a client’s information without permission, and they must always behave in a way that reflects highly on the financial planning profession.

Real World Example of the Financial Planning Association

Individuals may turn to financial planning professions for a variety of needs. Those struggling to cope with debts, for instance, could benefit from support in planning updated budgets or using techniques such as debt consolidation to gradually repay their loans. For other clients, financial planners can help achieve long-term goals such as saving for retirement or a child’s college expenses. For wealthier clients, financial planners can also assist in services such as investment and estate planning.

For those wishing to seek out a financial planner in their area, the Financial Planning Association offers a free online search tool. Through this tool, the user can access a directory of qualified financial planners in their region, along with regional chapters of the association which offer meeting places and educational programs.

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