Opening Session
Opening Session sponsored by Wiley
The Power of Data in our CFP Board
Registered Programs: Program
Evaluation and Certification
Completion
Dr. Charles Chaffin
Director of Academic Programs and Initiatives
CFP Board
CFP Board Registered Programs
•
Baccalaureate
127
•
Certificate
191
•
Master’s
49
•
Doctoral
5
•
372 registered programs
•
227 colleges and universities
CFP Board Registered Programs
300
310
320
330
340
350
360
370
380
2010
2011
2012
2013
2014
Total Programs
13% growth in
total number of
programs since
2010
New Programs
•
University of Wisconsin-Madison
•
Illinois State University
•
Texas A&M University
•
University of the Pacific
•
Penn State Erie, The Behrend College
•
University of Akron
•
Oregon State University
•
Kaplan University
•
Eastern New Mexico University
•
Mount Vernon Nazarene University
•
Emory University
•
Columbus State University
•
Suffolk University
•
Benedictine University at Mesa
•
Utah Valley University
CFP Board Registered Programs
Baccalaureate,
28%
Certificate,
59%
Master's,
12%
Ph.D.
1%
2010
Baccalaureate,
34%
Certificate,
51%
Master's,
14%
Ph.D.
1%
2014
CFP Board Registered Programs
Baccalaureate
75%
Certificate
8%
Master's
13%
Doctoral
4%
CFP Board Registered Programs
•
Degree programs: Over 80% of new and prospective degree
(baccalaureate, master’s, doctoral) programs are/will be housed in
AACSB/ACBSP- accredited school/college of business
– Finance Department
•
Critical need for faculty across program types
•
Certificate Programs: Overwhelming majority of CFP
®
exam registrants are
graduates of CFP Board Registered certificate programs
– Almost 33% of CFP Board Registered baccalaureate programs are less than four
years old
•
Significant increase in the number of blended instructional platforms
amongst certificate programs (classroom-based/online)
•
Financial Literacy can equal recruitment
– Financial literacy courses (lower-division, a la carte) can create and develop your
student pipeline for certificate and baccalaureate programs
CFP Board Registered Programs
•
27% of all program renewals (2013-2014) required edits
– Self-assessment
– Financial plan development (capstone) course
– Inconsistent data regarding contact hours, program structure
– “document what you are already doing”
•
We can discuss
–
RegisteredPrograms@CFPBoard.org
for a conference call to discuss
registration, curricular, or strategic matters relative to your program (over 250
conference calls since August, 2013)
CFP Board Registered Programs
Self-Assessment Data
CFP Board Registered Programs
Self-Assessment Data
0 10 20 30 40 50 60 70 80 90
Accessibility: Accreditation: Administration Strength:Admissions Standards: Advisory/Review Board/Committee:Alumni Engagement/Support: Career Development:Case Use: Collaboration with other Schools/Programs:Curriculum: Delivery Method: Emphasis on Objectives/Outcomes:Enrollment: Establishing/Engaging FPA and/or NAPFA:Exam Pass Rate: Experiential Learning Opportunities/Internships:External Award: Faculty Evaluation of Program:Faculty Strength: Financial Community Awareness/Support:Flexible Payment Plan: Flexible Schedule:Focus on Exam: Focus on Professional Development:Group Work: High Rate of Graduate Employment/Promotion:
Areas of Strength Part 1
Certificate Programs
CFP Board Registered Programs
Self-Assessment Data
0 10 20 30 40 50 60 70 80 90
Institutional/University Support: Integration of Multiple Topics in Each Course:Location: Marketing: Mentoring Program: Networking: Online Program Component/Materials:Online Student Support: Program Consistency/ Uniformity:Program/Class Size: Quality of Materials: Regular Communication and Feedback: Regular Updates to Comply with CFP Board: Relationships/Interaction with Practitioners: Reputation: Require Internship:Retention: Schedule/Program Flexibility:Scholarships: Student Assessment: Student Certification:Student Diversity: Student Evaluation of Faculty/Program:Student Involvement in Program: Student Placement:Student Quality: Student Support: Variety of Learning Experiences:Webinars:
Areas of Strength Part 2
Certificate Programs
CFP Board Registered Programs
Self-Assessment Data
0 10 20 30 40 50 60
Accreditation: Administration Strength: Advisory/Review Board/Committee:Alumni Engagement/Support: Career Development:Case Use: Collaboration with Other Schools/Programs:Curriculum: Emphasis on Objectives/Outcomes: Emphasis on Student Learning Outcomes:Encouraged to Take CFP Exam: Establishing/Engaging FPA and/or NAPFA:Exam Pass Rate: Experiential Learning Opportunities/Internships:Exposure to Financial Planning Software: External Award: Faculty Evaluation of Program:Faculty Strength: Financial Community Awareness/Support:Guest Lecturers: High Rate of Graduate Employment/Promotion:Institutional/University Support: Integration of Multiple Topics in Each Course:Location: Marketing: Mentoring Program:
Areas of Strength Part 1
Baccalaureate Programs
CFP Board Registered Programs
Self-Assessment Data
0 10 20 30 40 50 60
Networking: Online Program Component/Materials: Private Sector Support: Program Caters to Exam: Program Caters to Professional Development: Program/Class Size: Regular Updates to Comply with CFP Board: Relationships/Interaction with Practitioners: Reputation/Ranking: Require Internship: Resources: Retention: Scholarships: Student Assessment: Student Certification: Student Diversity: Student Enthusiasm: Student Evaluation of Faculty/Program: Student Involvement in Program: Student Placement: Student Quality: Student Support: Tracking Students/Graduates: Variety of Learning Experiences: Website: Working World Experience:
Areas of Strength Part 2
Baccalaureate Programs
CFP Board Registered Programs
Self-Assessment Data
0 5 10 15 20 25
Inadequate Administrative Support: Case Use (Number of): Competition within Institution for Program Resources: Curriculum: Enrollment: Exam Pass Rate: Faculty (Number of): Faculty Quality: Inadequate Alumni Engagement/Support: Inadequate Experiential Learning Opportunities: Inadequate Exposure to Financial Planning Software: Inadequate Marketing: Inadequate Relationships/Interaction with Practitioners: Inadequate Student Assessment: Inadequate Student Support: Inadequate Tracking of Students/Graduates: Lack of Advisory/Review Board/Committee: Lack of Community Awareness: Lack of Consistency within the Curriculum:
Areas of Weakness Part 1
Baccalaureate Programs
CFP Board Registered Programs
Self-Assessment Data
0 5 10 15 20 25
Lack of Corporate Sponsorship: Lack of Faculty Coordination: Lack of Involvement with FPA and/or NAPFA: Lack of Program Target Audience: Lack of Student Diversity: Lack of Viable Internship Opportunities/Program: Lakc of Working World Experience: Length of Program: Location: Matriculation to CFP Exam: Maturity of Program: Organization of Program/Course: Poor Student Placement for Internship: Program Cost: Program/Class Size: Program/Course Schedule: Quality of Materials: Recognition: Recruitment: Retention:
Areas of Weakness Part 2
Baccalaureate Programs
CFP Board Registered Programs
Self-Assessment Data
0 5 10 15 20 25 30 35 40 45 50Methods Of Identification
Certificate Programs
N=116CFP Board Registered Programs
Self-Assessment Data
85%
6%
5%
4%
Use of Student Centered Learning Objectives
Certificate Programs
N=116
Yes: No: No But Will:
CFP Board Registered Programs
Self-Assessment Data
80%
7%
5%
8%
Use of Student Centered Learning Objectives
Baccalaureate Programs
N=83
Yes: No: No But Will:
CFP Board Registered Programs
Self-Assessment Data
48%
13%
11%
28%
CFP Board Account Creation
Baccalaureate Programs
N=83
Encouraged: Mandatory: Do Not Promote: Do Not Promote But Will:
CFP Board Registered Programs
Self-Assessment Data
74%
5%
5%
16%
CFP Board Account Creation
Certificate Programs
N=116
Encouraged: Mandatory: Do Not Promote: Do Not Pomote But Will:
Registration renewal
•
Build your strongest evaluation letter from CFP Board to your institution
– Use it as an advocacy instrument
•
CFP Board requires only one course
– Minimum number of contact hours for program
– Topics can be configured in any manner
– Capstone course must contain the seven required learning objectives
•
Press releases available
– Renewal registration
– Initial registration
Renewal/Initial Registration
Press Releases
Registration renewal
•
Program self-assessment doesn’t happen instantaneously
CFP Board Registered Program
Registration Renewal
2013-2014 Renewal Timeline for CFP Board Registered Programs
The following graph illustrates the deadlines for incomplete applications:
Incomplete Registration
o 1-30 Days After Renewal Deadline
o No access to Online Education Verification System
Temporary Suspension
o 30-45 Days After Renewal Deadline
o Program Information is removed from CFP Board
webpage
o No access to Online Education Verification System
until registration is confirmed
Deregistration
o 45 Days After Renewal Deadline
o Institution will need to complete an Initial
Application in order to house a registered program
o Current students will not be eligible for CFP®
Certification relative to Education requirement
o No access to Online Education Verification System