NexGen Update from the San Diego FPA Chapter Symposium

Posted by Kem Taylor on Sep 28, 2018 10:01:00 AM

Earlier this month, I attended the San Diego chapter FPA Symposium. Along with case studies and market information, there were presentations on program updates for the next generation of advisors. I thought it was especially relevant to hear about their NexGen focused resources in light of Michael Kitces’ article published last week on our profession’s looming talent shortage: Competition For Talent And The Rising Shortage Of Next-Generation Financial Advisors. 

Here are some notable programs the San Diego chapter has set up with a focus on the next generation and getting future planners excited about a career in financial services.

SDSU FPA Student Chapter

Garret Carter, CFP®, President of the San Diego FPA NexGen Group, shared his recent experience speaking to the San Diego State University student chapter of the FPA. He was excited to report that it was a standing room only event! The student chapter of the FPA gets students involved in the Financial Planning industry and helps them learn about their educational options at SDSU. The program also hosts a variety of professionals, including financial advisors, to speak to the students.


SDSU also sponsors an Externship Program students. Externships are 9 hours of in-office experience for a student throughout a college semester. Students experience the day to day life of a financial planning practice, are exposed to the financial planning process, and see how planners make a difference in the lives of their clients. Jeremy Kovacevich, CFP® of HoyleCohen said, “An externship is really simple and flexible for the host to set up. And the students benefit from the financial planners’ insight, knowledge, and real-world experience.” For a busy office, a 9-hour commitment is much easier than planning a six-month internship program. Plus, the host firm can have 2 or 3 students in the office at a time. SDSU is in the third round of the externship program and, so far, 27 students have signed up!


The San Diego chapter’s 2018 mentorship program has 11 mentor/mentee pairs. At the Symposium, Anna Sayer of Gurtin Bond Management and I interviewed mentor Tracy S. Burgett, CFP® of Dowling & Yahnke and mentee Luciana Risty of Mass Mutual about their experiences in the program. Luciana shared, “It is priceless for a beginner in an industry to get ‘insider scoop’ information. I enjoy having as much information as possible to make calculated decisions, as they will profoundly affect my life. Having a mentor at such a critical time is helping me to make a career path choice.“ The committee is gearing up for 2019. They’re looking to invite new members into the program and adding resources to the mentorship webpage.   

Get Involved

Take a cue from the San Diego chapter and find out what next generation programs are available at schools in your area. Teach a class or offer to be a guest lecturer. Consider starting an internship or externship program of your own. There are many ways you can support the future of financial planning! 

Remember, advisors of all ages can attend professional association events and get involved on boards or committees. Check in with your local FPA chapter for more ways to get involved.

FP Transitions is proud to be the Financial Planning Association’s “Official Partner of the Next Generation of Financial Planners.” FPT continually works with the FPA to aid the next generation of advisors with information and support as they become owners in financial planning businesses. Visit an exclusive collection of next generation resources for FPA members here.

Topics: FPA, Events

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