FPA Debuts Final OneFPA Network Plan

The Financial Planning Association’s OneFPA Network Plan is ready for its debut after months of regrouping.

As soon as September, the OneFPA Advisory Council will be formed and all of the FPA’s 88 chapters can apply to participate in two-year beta-test beginning January 2020.

The rollout comes after months of backlash from FPA members concerned about their local chapters being disbanded in favor of a centralized system and what critics feel was a lack of communication and collaboration on the part of FPA leadership.

Now, 2019 FPA President Evelyn Zohlen said the organization is ready to get the initiative underway.

“The Final OneFPA Network Plan is the culmination of a multi-year journey, and we are proud to unveil it as the next step in the ongoing elevation of FPA and the profession of financial planning,” Zohlen said.

She added that the vocal FPA community provided “invaluable input” in the process to adopt a final plan. “We appreciate everyone who shared their views and input. The Final OneFPA Network Plan underscores the power of participatory governance, which is one of the OneFPA Network’s key tenets,” Zohlen said.

The final plan clarifies that:  

• Chapters will continue to play a critical role in the strategic direction setting of the association through ‘participatory governance,’ and the creation of a OneFPA Advisory Council to be formed in September 2019.
• A beta-test of centralized functionality with 10 volunteer chapters will begin January 2020 with applications due September 15, 2019.
• Chapters will not be required to dissolve their separately incorporated legal entities and any future consideration will be deferred until after the beta-test when a more thorough analysis can be completed.
• Chapters will continue to control budgets and reserves, raise and control sponsorship revenue, develop local programming as they desire, determine local leadership and governance, and direct/oversee the work of their local staff, according to a Master Services Agreement for chapters participating in the beta-test.

FPA Executive Director and CEO Lauren Schadle said the final plan will facilitate continued collaboration among FPA’s chapters. “We look forward to thoughtfully implementing the OneFPA Network vision in collaboration with our chapters,” she said.  “Chapter participation and input will help us effectively analyze and fully understand how our centralized functionality provisions may be extended across our chapter system in the future to achieve greater alignment and integration FPA-wide.”

The FPA encourages all chapters to apply to participate in a two-year beta-test of the centralized functionality provisions (technology, accounting/ finance, and staffing) beginning in January 2020. Applications to participate are due Sept. 15 and beta-test chapters will be selected by the OneFPA Transition Task Force on Oct. 15. FPA and beta-test chapters will work together through the fall to finalize logistics in advance of the beta-test beginning January 2020.

AdvisorNews Managing Editor Cassie Miller may be reached at cassie.miller@Adnewsfeedback.com. Cassie has an extensive background in magazine writing, editing and design. Follow her on Twitter @ANCassieM.