Tag Archives: Napfa

Last month we joined an association called NAPFA, short for National Association of Personal Financial Advisors.

Why we joined NAPFA

Just under a decade ago we made the decision to halt any and all commission revenue for our firm. Our business model was, and still is such, that we were not using commissioned based products, and in our view wanted to fully align ourselves with clients. The model is called “Fee Only” and that is how we operate today.

NAPFA is very clear in their membership and their mission, which is “Fee Only.” As a long time and continued CFP (Certified Financial Planner) there has been some blurring of the “Fee Only” title lately, such our joining of NAFPA. While we could have joined NAPFA ten years ago, we did not feel the urgency until late. We now wished we would have sooner!

So Far Extremely Impressed by NAPFA

The welcome packet (geared for advisory firms such as our selves), attendance to detail for their mission statement to the public and service, has impressed us thus far. We suspect, we are rather long in the tooth (read…old) for a new member of NAPFA, but we are happy to be a member and thoroughly impressed.

For those long time clients, you may be asking … “Why we did we do this and why are we saying it?”   Just this week we ran into a decade long relationship that did not completely understand our model …. Good timing!

Entrance process and increased education requirements

To join we were mandated a detailed financial sample plan and to continue as a member we up our CE mandates from 30 hours every two years to 60.   All of which we are happy to do.

We see NAPFA as a complimentary organization that will bring addition clarity to the crazy world of finance we live and work in, not a replacement to the CFP or CFA.

If you see a NAPFA logo on our website or hear us discuss a NAPFA meeting, research paper, or other information, now you know….. The rest of the story!

Have a Great Day!

John Kvale CFA, CFP