FPA Rhode Island Strategic Plan 2008

MISSION STATEMENT

The mission of the Financial Planning Association of Rhode Island is to be the financial planning resource for the public and planners in the state of Rhode Island. We seek to foster the value of financial planning and to advance the financial planning profession. Our goal is to promote public awareness and understanding of financial planning and the role and competency of financial planning professionals. We welcome all those who support the planning process and the Certified Financial Planning Ô mark as the promise and future of the profession.

VISION STATEMENT

The Financial Planning Association of Rhode Island envisions itself as becoming the most widely recognized financial planning organization in the state of Rhode Island. We aspire that our organization will be synonymous with professional competence and integrity in support of the principles and rules of the Code of Ethics and Professional Responsibility. Success will be measured in our growth achieved by attracting individuals interested in the financial planning process that support these standards and by the increase in attendance at our public awareness functions.

Items of Focus for 2008:

  1. Consumer outreach and financial literacy.
  2. Expand board, officers and directors.
  3. Implement and expand yearly “Business After Hours” networking events. 1-2 times per year.
  4. Continue to foster joint meetings with other local financial services groups.
  5. Enhance and redesign web site.
  6. Increase revenues through meeting sponsors and ancillary donations from membership.
  7. Enhance programming to reflect membership feedback.
  8. Increase membership.
  9. Awards and Recognition.
  10. Expand the Pro-Bono Money Mentoring Programs.

Consumer Outreach and Financial Literacy

FPARI will continue its efforts of offering events that expand on reaching out to the public in the form of financial education and literacy. A team head up by our Media and Events Directors and coordinator’s will develop a program’s in 2008. We will make an all out effort to canvass our membership for volunteers to participate in our Money Mentoring and Pro-Bono programs. The event will be open to the general public and focus on any item concerning financial planning.

We will also affiliate ourselves with the Rhode Island Legislature to act as a liaison promoting Financial Literacy in the State’s Educational system. Our education director will coordinate this along with our continued alliance with the Jump$tart Program..

FPARI will also participate in other public events and Expos in order to increase the awareness of the FPARI chapter. Events sponsored by the local Chamber of Commerce, Small Business Expos and other events sponsored throughout the State of RI.

Expand Board, Officers and Directors

FPARI will expand our board, officers and directors to delegate responsibilities to others:

  • Minimize the workload of the board.
  • Create a resource from which to slowly migrate those who want to serve on the board and other positions within the chapter.
  • Foster an atmosphere of involvement in the organization so everyone counts and has input in the direction of the chapter.
  • We will hold 4-6 Board meetings per year with one additional meeting to concentrate specifically on Strategic Planning.

Implement and expand yearly “Business After Hours” networking events

FPARI will consider scheduling 1-2 “Business After Hours” events in order to foster networking among ourselves and other financial organizations in the State of RI. We want to join with:

  • RI Society of Financial Service Professionals and RI Association of Insurance & Financial Advisors

Continue to foster joint meetings with other local financial services groups

FPARI will continue to team up with the other financial organizations in the State of RI for Joint meetings and other networking events. We will continue to have a joint meeting with:

  • RI Society of Financial Service Professionals and RI Association of Insurance & Financial Advisors
  • The Estate Planning Council
  • Local Chambers of Commerce
  • Any other organizations that we as a Board decide to vote on.
  • Continued alliance with the Jump$tart Program.

Enhance and redesign web site

FPARI will make a concerted effort to team up with our current website designer, Joe Kolb, to change our website within the limitations of the Website platform that we currently have. We will also explore the possibility of starting from scratch and completely create a new website making it more functional and simulate to our neighboring chapters in CT and MA. All of this will depend on costs and time to implement. Any decisions will be presented to the board for approval.

Increase revenues

FPARI will explore ways to increase revenues to offset the additional costs of subcontractor of the sec. duties and to defray the costs of our new meeting location and venues. This will be done through:

  • Solicit a sponsor for each of our meetings and develop sponsorship levels using a “gross up” method.
  • Encourage smaller donations from the membership in the event they don’t want to be an event sponsor but can afford smaller amounts. We will set up a separate account to capture those monies to be used for the ancillary events we hold.

Enhance programming to reflect membership feedback

FPARI will actively incorporate membership feedback when deciding on what to offer in our programming schedule for the 2008 year. We want our programming to be a consensus of what the members want in order to enhance meeting attendance and participation. Our average attendance is approximately 25-30 per event and we want to dramatically increase it to 40-45 per meeting. Our programming is the pinnacle of our organization and we will focus the majority of our energies and resources in creating the best programming for our members while attaining CFP CE credits and RI Insurance CE Credits. This will immediately translate into increased recognition, membership and participation within our chapter.

Increase membership

FPARI will create a membership director that will act as a liaison for any new members that our organization attracts. We will have a person be an ambassador for our new members by inviting he or she to a luncheon to specifically explain the Features and Benefits of our organization and to communicate the Chapters Mission and Vision statements and our Strategic plan. We will also explore the other State Colleges and University to see if they are offering a Certified Financial PlannerÔ Program that we can get in front of to do the same as we did at Bryant.

Awards and Recognition

FPARI will identify those members throughout the year that we want to award and recognize for their outstanding achievements and involvement within our organization. This will foster an atmosphere of appreciation and gratitude for their involvement within our chapter and also exemplify the Standards and Code of Ethics within our profession. This effort is an on going effort and will be discussed at each Board meeting.

Expand Pro-Bono Money Mentoring Programs

FPARI will actively solicit the membership to participate in the chapter’s ongoing efforts to extend to consumers Pro-Bono Services. We will begin the (2008) year with a campaign called: “Starting the Year off Right,” will match your expertise with families who do not have access to a financial planner.