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CFP Board elects first-ever Black woman advisor as chair

Black Women in Business

CFP Board elects first-ever Black woman advisor as chair

By Ann Marsh via

The CFP Board took a major step forward in its longstanding efforts to diversify the ranks of CFPs by electing Kamila McDonnough as its first Black woman chair. A veteran of Vanguard, where she served ultrahigh-net-worth clients, and Dimensional Fund Advisors, McDonnough’s term begins in 2022.

Doug King, CEO of Oakwood Capital Partners and former executive at Cetera and Merrill Lynch, will serve as chair in 2021.

“The face of our industry is typically not me,” says McDonnough, who was among only a few Black women in divisions at both large fund companies. “I thought about how many young people that I could inspire. So I raised my hand.”

Her election already has energized La Tanya Harris, an aspiring CFP and African American who does…

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I am a future butterfly at the stage of growth when I am turning into an adult. I am enclosed in a hard case shell formed by love, family, and friends. It is the hardest stage of becoming a black butterfly. You will encounter many hardships only to come out stronger and better than what you went in. At this stage, you are finding out who you truly are and how to love yourself.

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