One of the founding pioneers of the financial planning profession will be honored posthumously at the FPA's annual conference in Seattle next month.
Lynn Hopewell, who died in 2006 at the age of 68, had a "lasting impact" on the profession through his popularization of certain financial modeling techniques as well as other contributions to the Journal of Financial Planning, the FPA said in a statement.
Hopewell served as editor of the Journal of Financial Planning from 1992 to 1995. In 1997 he published a paper in the Journal titled "Decision Making Under Conditions of Uncertainty: A Wakeup Call for the Financial Planning Profession," that, for the first time, introduced stochastic modeling including the use of Monte Carlo simulations to the profession.
He also co-authored additional papers on this topic, including "Modeling the Future," published in the Journal in 2000. "For this contribution to the profession alone, I believe Lynn deserves the highest honor FPA can offer," prominent planner David Yeske said in a statement.
Hopewell also volunteered extensively with the FPA and its predecessor organizations and served two terms on the Board of Governors (now board of directors) of the CFP Board of Standards.
He will be honored with the P. Kemp Fain Jr. award for "outstanding contributions to the financial planning profession in the areas of service to society, academia, government and professional activities." The FPA conference will be held Sept. 20, 21 and 22 at the Washington State Convention Center in Seattle.
OTHER FPA AWARDS
The FPA also announced that Rick Fingerman and Louis Barajas will receive the association's Heart of Financial Planning Award -- an honor recognizing individual advisors, planning firms and organizations "that engage in extraordinary work, contributing and giving back to the planning community and public through financial planning."
Since 2008, Fingerman has led the FPA of Massachusetts' pro bono coaching program at the Dana Farber Cancer Institute, which has helped more than 300 patients and families. Fingerman oversees all facets of the program, including training coaches, developing processes and procedures, and collaborating with Dana Farber staff. Fingerman is also a past president of the FPA of Massachusetts chapter and is managing partner and co-founder of Financial Planning Solutions, in Newton, Mass.
Barajas is founder of Financial Literacy LAB in Santa Fe Springs, Calif., where he also heads a wealth management firm; he has also written five consumer finance books. The son of Mexican immigrant parents, he has used his personal experiences as a foundation for the educational work he does with people of varying backgrounds and income levels.
Barajas is also a past member of the FPA Board of Directors and former member of the FPA Diversity Committee. "Louis has proved that altruism and profitability can work together for the common good of all," Lazetta Braxton, FPA member and head of the Association of African American Financial Advisors, said in a statement.
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