Atlanta, Ga. (Sept. 11, 2003) -- The Financial Planning Association Board of Directors and FPA’s Broker-Dealer Advisory Council have agreed to launch an independent organization to serve the needs of broker-dealer and registered investment adviser firms that serve independent contractor representatives.
“After more than a year of conversations and analysis, the FPA Board realized the association’s Broker-Dealer program cannot adequately serve the specific and complex needs of independent contractor broker-dealers,” FPA President David Yeske said. He noted that the group still welcomes firms that want to be institutional members and their reps who want to be individual members of FPA.
While details of the creation of this new organization and a transition plan are not final, the group hopes to launch the new entity in 2004.
“Independent contractor broker-dealer members of FPA are unified in this joint decision,” Tony Batman, chair of FPA’s Broker-Dealer Advisory Council, and president of 1stGlobal, said. “We salute the FPA Board’s courage in recognizing our unique and specific needs for and support of our efforts to create this new organization. Broker-Dealers that support the financial planning process will still be very committed to and involved in their support of FPA.”
-- WebCPA staff
