I’ve seen it coming ever since the CFP Board elected well-known Washington insider Sarah Teslik as their CEO. The CFP Board intends to get more involved in influencing federal politics. They’re really getting serious about it, announcing today that they’re leaving Denver and moving to Washington DC:

From the article:

The move, which will take place over the next few months, represents the CFP Board’s increased focus on regulatory matters as they relate to the financial planning industry, according to a statement released today.

“The financial planning profession and the people it serves are being significantly impacted by public policy developments and trends in the financial sector that can best be monitored, influenced and managed from our nation’s capital,” said Karen Schaeffer, chairwoman of the CFP Board’s board of directors.

According to a statement from the association, the decision was based on a multi-year review of how the CFP Board could “best respond to America’s increasing need for certified financial planners.”

This is a *very* smart move for the CFP. Twenty years ago, it may have been smart to relocate to New York, the financial hub. But political influence on business has increased to the point where that should be the overriding concern on the part of any industry leadership.

Whatever their party affiliation, I don’t see any of our Congressmen or Presidential candidates saying we should decrease the size of the government. I give the CFP Board members lots of credit for accepting that government will only get bigger and the center of power is where they need to be to best affect the direction of the industry.

Obvious next step: Hiring lobbyists.