A senior partner with Rise Growth Partners is CFP's Board Chair-elect for next year, set to take the reins in 2026.
At its July meeting, the organization's board of directors elected Terri Kallsen as chair-elect for 2025. She will succeed Matthew Boersen, the current board chair, and Liz Miller, who will serve as chair in 2025.
“Terri's extensive experience and unwavering commitment to the financial planning profession make her an outstanding choice for this role,” said Boersen.
Kallsen is the lead operating partner at Rise Growth Partners, established at the end of 2023 by former United Capital founder and CEO Joe Duran after he left Goldman Sachs.
Rise Growth makes minority investments in next-generation RIAs with between $1 billion and $5 billion in assets under management to help them grow to become national platforms of $10 billion or more.
Duran informed Kallsen would join the firm as managing director and senior operating partner a month after he discovered its existence. At the time, Kallsen told WealthManagement.com that he would work with CEOs of potential RIA partners to align strategy and vision to achieve quarterly, annual and three- to five-year key performance indicators.
Prior to joining Rise, Kallsen was chief operating officer with Wealth Enhancement Group, joining the firm in 2020. She also spent seven years with Charles Schwab as executive vice president of investor services, overseeing 7,000 employees (prior to that, Kallsen held leadership roles at USAA and Thrivent).
In October, Kallsen said WealthManagement.com that after 30 years of working with entrepreneurs in larger enterprises, she felt it was time to join an entrepreneurial organization herself.
Kallsen recalled her work at WEG as part of the firm's M&A and organic growth processes, which grew the firm's AUM from $19 billion to $65 billion in roughly three years. She recalled seeing entrepreneurs serving their customers in ways she thought were “innovative” and “caring.”
“Now, after 30 years, I get to be a part of this entrepreneur, this spirit of innovation, the spirit of doing what's right for clients,” she said of the move to Rise Growth Partners.
Last month, the CFP Board presented amicus brief the Labor Department's support of two lawsuits filed in Texas federal court to try to overturn the department's revised trust rule issued in April. In the lawsuit, multiple industry groups, including the American Council of Life Insurers, the Insured Retirement Institute and FINSECA, are calling on the courts to strike down the rule as unconstitutional.
“While the DOL's opponents have expressed concern about moderate-income investors, we believe their concerns are misdirected,” the brief said. “The DOL's updated and strengthened fiduciary rule will benefit moderate-income investors, harmonize the regulation of retirement advice with securities regulation, and protect the public from the harms of conflicting advice.”