The NAPFA Files examine fiduciary duties in the corporate governance of the National Association of Personal Financial Advisors, a nonprofit organization.
This ongoing case study brings together information about organizational purpose, leadership, oversight, transparency, and accountability. Its goal is to help participants understand the issues, contribute informed questions, and support improvements that help NAPFA succeed.
Explore the case study and download issue PDFs.
Mission and Organizational Purposes; Vision and Values; Board Structure and Responsibilities; Board Orientation and Training; Board Minutes and Decisions; Committees; Member Voting and Participation; Strategic Planning
Files coming soon.
CEO Responsibilities; Hiring and Compensation; Leadership Transitions; Organizational Policies; Conflict of Interest Policy; Recordkeeping; Member Meetings; Marketing Language and Communications
NAPFA Conflict of Interest Policy and Disclosure Form (pdf)
DownloadFinancial Statements; Income Tax Returns; Budgets; Vendor Payments and Agreements; Sponsorships; Financial Transparency; Financial Records Requests and Responses
Federal - Internal Revenue Service; State - Indiana Attorney General; Other Authorities
Files coming soon.
Requests Sent; Responses Received; Outstanding Requests; Attorney Correspondence; NAPFA Leadership Correspondence; Member Correspondence
Files coming soon.
This case study issue examines reported lapses in NAPFA’s legal registration in Indiana and Illinois, management’s response, and questions about board oversight and fiduciary responsibilities. It organizes available documents, dates and communications to explore what happened and how stronger governance practices could prevent future lapses.
Download the issue file below to review the chronology, supporting sources and instructions for checking NAPFA’s current Indiana registration status. This is a work in progress; additional documents, corrections and perspectives are welcome.
Discussion Questions; Participant Feedback; Governance Recommendations; Proposed Actions; Progress and Outcomes
Files coming soon.
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