The History of Financial Planning: The Transformation of Financial Services Hardcover - 2009 - 1st Edition

From the jacket flap

Four decades ago, the financial planning profession did not exist. For average Americans, an "investment" meant a life insurance policy, bought from an insurance salesman who worked on commission. That was all changed by a onetime vacuum-cleaner salesman who had transformed himself into a marketing consultant and motivational writer, and a former insurance salesman turned school-supplies salesman who had a master's degree in psychology. In late 1969, they began a revolution that was intended to help ordinary Americans gain control over their financial destinies. Despite huge odds, financial planning--the first new profession in four centuries--succeeded beyond the most fervent hopes of its founders, not just in the United States but around the world. The History of Financial Planning is the story of that astonishing success and the people who built the movement.

In vivid detail, the authors chronicle the defining moments and the key players that have made up the history of financial planning. They depict the environment out of which the financial planning movement emerged and offer an inside look at the watershed December 1969 meeting in Chicago that launched the movement. They introduce the cast of characters--which included visionary, courageous, and talented people, a majority of whom put the movement ahead of their personal goals. And they detail the formative years from the early 1970s through the 1980s, the landmark events of the 1990s, and the new era that began with the birth of the 30,000-member Financial Planning Association in 2000.

In addition, the authors cover the global expansion of the financial planning movement, the interaction of financial planning research and new technologies, and the emerging growth of financial planning as a profession: education, examination, experience, ethics, methods of compensation, government regulation, and social purpose. They conclude their saga with an outline of what possible challenges and opportunities the financial planning movement will face in the future.

As financial planning enters its fifth decade, it is clear that much of its potential and promise are being realized. This book will convey the heart, soul, and tireless commitment that have added to the depth and richness of this profession.