In a detailed position paper on his vision for NAPFA in the coming year Dr. Rhoades stated, “Building upon the great work undertaken over the past two years by Chair Susan John, as well as the extraordinary efforts (both past and present) of hundreds of NAPFA members who volunteer their time and resources, and the diligent and skilled efforts of NAPFA's devoted staff, I intend to continue the organization's focus on the accomplishment of NAPFA's vision, namely that ‘the 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.’”
Following graduation from the University of Florida College of Law with honors in 1985, Dr. Rhoades practiced for over 25 years as an attorney, with nearly all of those years substantially devoted to estate planning, tax planning, and the representation of select business entities. He served as Director of Research and Chair of the Investment Committee of a Florida-based RIA firm, of which he was co-owner, for nearly a decade. Professor Rhoades now maintains his proficiency in financial planning and his service to clients through his own investment advisory firm, ScholarFi Inc., Alfred, NY, which serves a select group of clients located along the East Coast of the United States.
Dr. Rhoades currently serves as Program Chair for the Financial Planning Program at Alfred State where he serves as an Assistant Professor in the Business Department. He provides highly interactive instruction, together with real-world perspectives, while teaching courses in Investment Planning, Retirement Planning, Insurance and Risk Management, Business Law, and Employee Benefits. He also teaches the Personal Financial Planning Capstone course, which includes numerous case studies and field trips each semester to various financial planning profession conferences. (A longer version of Dr. Rhoades' C.V. can be found at http://www.alfredstate.edu/
Dr. Rhoades believes NAPFA will continue to lead the profession through:
(1) Enhanced Educational Offerings. A continued focus upon, and evolution of, our industry-leading educational offerings, as we continue to seek to "raise the bar" with great conference speakers and advanced content.
(2) Spreading the "Good Word." A continued expansion of NAPFA's communication campaigns, as we seek to further educate the public on the many benefits of receiving truly objective financial advice from NAPFA-Registered Financial Advisors. Dr. Rhoades notes that only the top 2% of financial advisors in the country qualify to be NAPFA members. We will continue to make progress in our vision that NAPFA-Registered Financial Advisors are the consumers' top choice for the receipt of financial and investment advice.
(3) Advocating for a Fiduciary Standard. Working with our friends in the Financial Planning Coalition, and with other organizations, we will continue to advocate for the extension of the bona fide fiduciary standard of conduct for all providers of investment and financial advice to our fellow Americans. If this can be accomplished, as the Dodd-Frank Act authorizes the SEC to implement, all Americans would benefit by receiving advice clearly aligned with each client's best interest and better focused on the accomplishment of each client's financial goals.
(4) Opposition to FINRA Oversight of RIAs. NAPFA strongly opposes the effort by FINRA to oversee registered investment advisers. FINRA, whose membership has long been dominated by the commercial interests of Wall Street's large broker-dealer firms and investment banks, has long opposed the very principles that NAPFA has advocated for nearly 30 years. In NAPFA's view, FINRA's desire to oversee RIAs would lead to the demise of hundreds (if not thousands) of small businesses, the watering down of the true fiduciary standard of conduct, and the inappropriate imposition of a vast, rules-based bureaucracy upon fiduciaries that subscribe to the highest principles under the law.
If you are interested in speaking with Dr. Rhoades about his election to National Chair and his unique vision for NAPFA in the coming year, please contact Ben Lewis, NAPFA’s Communications and Marketing Manager, at (301) 963-7555 or firstname.lastname@example.org.
Since 1983, The National Association of Personal Financial Advisors (NAPFA) has provided Fee-Only financial planners across the country with some of the strictest guidelines possible for professional competency, comprehensive financial planning, and Fee-Only compensation. With more than 2,400 members across the country, NAPFA has become the leading professional association in the United States dedicated to the advancement of Fee-Only financial planning.
For more information on NAPFA, please visit www.napfa.org.