http://www.napfa.org/userfiles/file/South/NAPFAStrategicPlanforMembershipAmended.pdfNational Association of Personal Financial AdvisorsNAPFAThe public recognizes that NAPFA advocates the highest standards for personal financial planning and that NAPFA-Registered Financial Advisors are the most trusted advisors of choice.To promote the public interest by advancing the financial planning profession and supporting our members consistent with our core values.CompetencyRequiring the highest standards of financial planning.ComprehensivePracticing a holistic approach to financial planning.CompensationUsing a Fee-Only model that facilitates objective advice.Client-CenteredCommitting to a fiduciary relationship that ensures the client’s interest is always paramount.Complete DisclosureProviding an explanation of fees and potential conflicts of interest.1Organizational StructureImplement organizational structure that enables the effective execution of the mission.1.1National and Regional StructureEnsure that the current national and regional structure is maximized to its fullest potential and positively impacting the success of the organization.Tactic A Convene task force. Milestone 1 NAPFA National Chair appoints Peggy Cabaniss as Task Force Chair. Task Force Chair appoints at least five additional former leaders or engaged members that are geographically dispersed with input from CEO and National Chair. Milestone 2 Timeline, process and scope of work identified. Milestone 3 Conference calls/meetings are held, recommendations vetted through Presidents' Council and reported to National Board. Communications as appropriate with membership. Tactic B Recommendations and Implementation Milestone 1 National Board reviews recommendations from Task Force and determines next steps. Milestone 2 Communicate any changes and/or reaffirmation of existing structural elements to membership.1.2Other Governance IssuesReview other governance issues to maximize effectiveness of the board.Measurement: Staff, national & regional boards (potentially entire membership) satisfaction with the organization structure and key organizational structural attributes as measured by an annual survey. Target: Average satisfaction score of 4 out of 5 (currently at 3.58)2Professional AppealEstablish NAPFA as the Fee-Only financial advisor’s first choice when selecting a professional organization.2.1Educational OfferingsEnhance broad-based educational offerings to meet the needs of members and ensure effective communication of offerings.Tactic A Reconvene Education Advisory Task Force. Milestone 1 National Board Education Director and National Board Conference Liaison lead Task Force in discussions concerning conference themes, timing, location and educational offerings through 2010. Milestone 2 Task Force composes formal conference chair and advisory committee agreement, identifies conference chair and/or committee, makes recommendations to National Board and contacts potential chairs and committee members to communicate roles and responsibilities and gain sign off of agreement. Tactic B Education Manager Milestone 1 Develop job description for full-time Education Manager, contract with headhunter, interview candidates and select new hire. Milestone 2 Research current offerings, interview Education Advisory Task Force, and discuss with other influential members including staff. Milestone 3 Work with various conference committees, NAPFA University Deans, staff and speakers to ensure that the wishes of NAPFA's National Board are implemented. Milestone 4 Develop web-based searchable speakers bureau of NAPFA members and industry experts accessible to conference chairs, study group leaders, staff and other interested parties. Tactic C Support NAPFA's larger and emerging firms by holding LFI Conference. Milestone 1 Conference chair, Michael Chasnoff, appointed in early 2007 and has assembled advisory task force. Timing -- August 2008 Location -- Chicago, IL, Gleacher Center at the University of Chicago. The task force is working on program including theme and speakers.2.2Brand DevelopmentManage and continue development of the NAPFA brand in order to establish the Fee-Only comprehensive planning model as the gold standard for advisors.Execution Plan 08/09 Discussions will take place during 07/08 between National Board, Perception and the staff.2.3CommunicationsEnhance ongoing two-way communications so that members feel represented and heard.Execution Plan 08/09 We are always looking at ways to increase and enhance communications up and down with the membership.2.4Membership GrowthIncrease support for prospective members in order to maximize membership growth.Execution Plan 09/10 Tactic A Hold NAPFA University Experience -- Summer 2008 Milestone 1 Identify location, pricing, sessions and marketing plan. Milestone 2 Execute marketing campaign for website, email and snail mail.2.5Member InvolvementEncourage increased membership involvement so that members feel connected to the organization.Tactic A Continue development and support of NAPFA MIX and special interest groups. Milestone 1 Evaluate the support mechanism NAPFA currently offers to peer support groups. Tactic B Seek relationship with outside consulting firm to provide members with cutting edge research. Milestone 1 Board analyzes proposals and selects topic to research. Milestone 2 A task force is created to work with consulting firm to provide input for survey questions, timeline, dissemination to the members and analyzing the results. Milestone 3 Survey is executed and membership participation campaign is underway.2.6AwarenessIncrease awareness of NAPFA through education channels.Execution Plan 09/10. Current projects like NAPFA University, outreach to the CFP Program Directors and the College for Financial Planning are increasing NAPFA's profile with future advisors.Measurement: Growth of NAPFA membership as compared to growth of target market. Target market will be identified using the Discovery RIA Database and an informal survey of industry experts. Target: Membership % growth at least in line with the % growth of our target market. Measurement: Growth of NAPFA membership as compared to the growth of our sister organizations i.e. FPA,The Society and AICPA/PFP Division. Target: Membership % growth at least in line with the % growth of our sister organizations.3Consumer AppealEstablish NAPFA as the consumer’s first choice when selecting a financial advisor.3.1Brand RelevanceReview overall brand to ensure its relevance for NAPFA into the futureTactic A Create an advisory task force to discuss and vet key branding strategies for NAPFA and make recommendations to the National Board. Milestone 1 Appoint leader and with leader's help appoint task force. Milestone 2 Task force meets as necessary via conference call and/or in-person meetings. Milestone 3 National Board accepts/rejects/asks for further review.3.2Brand ManagementManage the NAPFA brand and match the message for different audiences in order to establish the Fee-Only comprehensive model as the preferred consumer model.Execution Plan 08/093.3Consumer Rights Task Force and CoalitionsContinue to utilize the Industry Issues Task Force to champion consumer rights. Create coalitions with other relevant associations when appropriate in order to gain more clout.Execution Plan 08/093.4NCEFResolve on-going commitment to NCEF and implement recommendations.Tactic A NCEF reports progress and future plans to the National Board. Milestone 1 NCEF meets via conference call and/or in-person meeting to complete the case statement, gift table offerings and execution plan. Milestone 2 Based on approval, NCEF moves forward with plan.3.5Membership RequirementsRe-evaluate membership requirements in order to maintain the gold standard in financial planning.Execution Plan 09/10Measurement: Year on year growth in NAPFA press requests and website hits. Targets: Press requests (20%) and website hits (15%).4Financial Alignment with MissionIdentify and track financial resources so as to support the NAPFA mission.4.1SponsorshipCreate and implement a clear sponsorship framework to maximize predictability of sponsorship revenue stream, while addressing the concerns of members.Tactic A Create a proposal for the National Board. Milestone 1 Analyze the market to see what sponsorship opportunities will best attract revenue dollars without compromising NAPFA's standards. Milestone 2 Finalize NAPFA's sponsorship offerings for 2008. Milestone 3 Provide framework and explanation section relating to sponsorship and exhibitor opportunities including roles and timeframes for updated Conference Policy and Procedures manual. Tactic B Educate upcoming conference chairs and/or advisory committees. Milestone 1 Share framework with Presidents' Council Milestone 2 Devote ample time at in-person meeting to cover information.4.2Transparency and AccessIncrease transparency and access to financial information so as to raise board member awareness of resources.Execution Plan 08/09Measurement: Board level awareness of financial situation as measured by NAPFA Chair. Target: Increase in Board Level awareness such that they feel informed and knowledgeable about financial liabilities/stability.