WASHINGTON, May 4, 2017 /PRNewswire/ -- The CFP Board Center for Financial Planning and iRelaunch have joined forces to create the Financial Planning Re-entry Initiative (FPRI), a ground-breaking diversity and workforce development pilot program aimed at growing the pool of female financial planners.
The FPRI's primary objective is to diversify the financial planning workforce by supporting financial services firms in establishing re-entry internships for experienced, professional women seeking to return to the workforce. FPRI firms will participate in a pilot using these internships to aid the transition of returning professionals to careers in financial planning.
The Center and iRelaunch will support pilot firms in developing and executing customized internships specifically designed for this high caliber, highly motivated, predominantly female talent pool. Professional re-entry internships will be posted on the CFP Board Career Center as they become available.
"Among our priorities at the Center for Financial Planning is to address the lack of diversity within the financial planning profession as well as the need for pathways into the profession," said Marilyn Mohrman-Gillis, CFP Board Center for Financial Planning Executive Director. "Through the Financial Planning Re-entry Initiative, the Center seeks to apply a successful workforce development model in other sectors to create a scalable re-entry model for personal financial planning. The Center applauds the FPRI pilot firms for their commitment to diversity and workforce development in the profession."
Participating firms in the Center's initial FPRI pilot include: Edelman Financial Services and United Capital, both of which are sponsored by TD Ameritrade Institutional; Fairport Asset Management and Yeske Buie, sponsored by Schwab Foundation; and Fidelity Investments.
As the pioneering company in the career re-entry space and the leader in career re-entry programming of all kinds, iRelaunch works directly with employers to develop, pilot, source for, present in, and publicize their re-entry programs. The Center's new initiative is modeled after similar highly successful programs in the financial services and STEM (science, technology, engineering and math) sectors. Re-entry internship program "conversion rates," or the percentage of re-entry interns who convert to long term hires, are an impressive 50 to 100 percent.
The initiative offers a dual benefit to those seeking to restart their careers as well as to firms striving to diversify their talent pools. Overall, this effort will result in a stronger financial planning workforce serving clients with diverse needs. Men returning from a career break are also eligible to apply for and participate in the FPRI program.
"Following the success we have had with our multi-company re-entry initiative in the STEM sector, we are proud to be partnering with the Center to drive similar results in the financial planning profession," said Carol Fishman Cohen, CEO of iRelaunch. "Returning professionals are a natural fit for financial planning careers, with their well-established networks, maturity, and pre-career break work experience."
Any firms interested in participating in future pilot programs should contact Eddy Demirovic at the Center for Financial Planning at [email protected]
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 77,000 individuals to use these marks in the U.S.
ABOUT the CFP BOARD CENTER FOR FINANCIAL PLANNING
The CFP Board Center for Financial Planning seeks to create a more diverse and sustainable financial planning profession so that every American has access to competent and ethical financial planning advice. The Center brings together CFP® professionals, firms, educators, researchers and experts to address profession-wide challenges in the areas of diversity and workforce development, and to build an academic home that offers opportunities for conducting and publishing new research that adds to the financial planning body of knowledge. More about the Center and its initiatives can be found at www.CenterforFinancialPlanning.org.
Founded in 2007, iRelaunch has been deeply engaged with employer partners, a national network of alumni career services directors at leading colleges and universities, professional organizations across industry sectors, and a global community that now reaches over 30,000 people. iRelaunch works directly with over 14 Fortune 100 companies and over 30 Fortune 500 (or equivalent) companies to support their efforts to hire "relaunchers" through re-entry internship programs or directly into open roles. iRelaunch's long-time connections with university alumni offices and professional organizations, expand its reach to millions of relaunchers in the U.S. and beyond. More information is at www.iRelaunch.com.
SOURCE Certified Financial Planner Board of Standards, Inc.