As we brace for another six inches of snow this weekend, today's article on The Big Picture struck me as particularly relevant as, though the title doesn't really suggest this, it's really a neat little pocket summary of the recent evolution of portfolio and fund management. It proved particularly relevant for me as I had just finished registering last Sunday for Oakland University's 2018-19 CFP program which begins this coming Wednesday. I was hopeful that things would work out and 14 months from now on I would have my credential. I purchased the textbooks and financial calculator and received the course syllabus.
Then yesterday I'm informed by the program faculty that I am not qualified and will not be admitted. You're kidding! An MBA and 37 years of financial experience and I'm not qualified! When I first inquired about the program 5 years ago the only requirement was a high school diploma. Three years ago, Oakland changed the curriculum to make it for working professionals with a minimum of 2 to 3 years experience, though this was suggested, not required. When I first tried to formally enroll two years ago, I was told that I lacked the required experience but could make this up by taking a special 4 month intro/mentor course, which I did quite successfully. Last year, I was enrolled but had to drop out because of my accident.
But truly, I was given the distinct impression when I completed the intro course in the fall of 2016 that I was definitely and officially admitted to the formal 14 month academic cohort program. So I registered last week and made it officially official. Then yesterday I receive emails, nicely enough worded, but the message was quite clear -- withdraw or be expelled. This program was for people who were already professionals. In fact, now I'm informed that OU requires candidates to have both an insurance license and a stock broker's license just to be admitted. I thought the classes were to help you become a professional. Now being a professional is a prerequisite. Is this the same CFP that the rest of the country has?
So it seems that my new adventure has been terminated before it even got started. I suspect it's for the best. OU has been giving me the run around for three years now so I've lost faith in them. And I've recently discovered that my alma mater, Boston University, has a CFP program that not only has no prerequisites other than high school but allows you the benefit of both online self-paced training and an option to Skype live classes to ask instructors questions in real time. The other online programs I've researched had the substantial drawback of providing very limited access to instructors for questions.
Anyway, I have the textbooks, the calculator, and the syllabus. I'm going to teach myself the investment class. After that, I may very well be going online to Boston.
Have a great Sunday, and enjoy this rather lengthy article about one eccentric firm that found a way to approach investing differently without losing yield.
Sat 2-3-18 Big Picture: Financial Engineers Killed the Art of Investing | Institutional Investor
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