By Gregory C. Frank, Founder & CEO, DivorceForce
Feb 21, 2020
As the CEO of DivorceForce, I have spoken to hundreds of people who have gone through the divorce process. I’ve reviewed thousands of posts on our social channels detailing experiences people have had with their own professional divorce teams—matrimonial lawyers, financial advisors, accountants, realtors, mortgage lenders, and mental health coaches—and I’ve been shocked to learn just how many feel they’ve made mistakes.
Association of Divorce Financial Planners
The national Association of Divorce Financial Planners (ADFP) was founded in 1999 by a regional group of certified financial planners, specializing in divorce-related issues. Over the years, we have assumed the premier leadership role within the financial planning industry to develop a new professional niche. We are a not-for-profit membership organization with formal practice standards, protocols, chapters, and code of ethics.
DF: There are several organizations today that cater to professionals who focus on divorce. What is the main reason why financial professionals join the ADFP?
LAV: The ADFP has as its mission:
- To make divorce financial planning an integral part of the legal divorce process.
- To unify the divorce financial planning profession.
- To set and enforce standards of excellence in the profession.
- To make the ADFP the recognized voice and establisher of standards in the profession.
- To encourage qualified financial professionals to become active practitioners in this field.
- To provide and promote unique benefits to members that build, enhance, and promote expert skill sets and knowledge through our continuing educational programs and events.
DF: What are some of the key differences a person will notice when working with a member of the ADFP versus a traditional financial professional?
LAV: Divorce financial planning is a fee-only process and does not involve any sales of products, insurance transactions, or investment advice. It is a process that focuses on a specific life transition and on the financial issues associated with divorce in the short and long-term contexts. Divorce financial planners must have an interdisciplinary knowledge of tax and divorce laws. We gather, summarize, analyze current and historical data, and may provide economic forecasting/modeling. Traditional financial planning can take place before or after divorce.
We define the scope of tasks we perform…(read entire article here)