Dan Galli began his tenure as president of the Financial Planning Association earlier this month. He previously taught elementary school for 11 years starting in the 1970s, a period when many districts closed schools, leading him to change careers.
"If I had known then what I do now, I don't know if I would've done it. Ignorance is bliss," Galli, founder of Daniel J. Galli & Associates, told Advisor Upside in a recent interview. He described the teaching mindset of making complex topics understandable as central to his advisory work.
"We always say to clients, 'We're going to talk about this in a way that you can go home and explain it to your 12-year-old,'" he said.
Galli stated his priority is to improve public perception of financial planning. He noted clients often confuse having an investment manager with having a financial planner. "This person doesn't really have a financial planner, they have an investment manager, probably a very good one, but getting people to understand that difference is a challenge and a priority," he explained. He emphasized the planner's role in coordinating with accountants, tax advisors, insurers, and bankers.
He also aims to advance financial literacy efforts. "We think that needs to start in the schools, but adults need it also," Galli said. He mentioned the FPA's nearly 20,000 members, many willing to contribute to such projects. For years, he conducted financial education workshops at corporations, where attendees expressed frustration at not learning concepts like IRAs earlier.
Regarding challenges for advisors, Galli cited staying current with strategies and regulations, such as the recently passed One Big Beautiful Bill Act. He said the national FPA supports about 70 to 80 active chapters by sharing solutions and promoting efficient operations. The organization has developed a competency model to help planners identify strengths and areas for growth.
Reflecting on industry changes, Galli recalled a 30-year-old study predicting the end of small planning firms. "I remember laughing at that," he said, arguing the planner-client relationship is intimate and not dependent on firm size. He observed planners at large organizations now considering starting their own shops, while others prefer working for companies without business management burdens. "The thing is we can all coexist happily," he added.
He described financial planning as a young profession, with the FPA recently marking 25 years. Galli noted encouraging entry through career changers from diverse backgrounds and students from new undergraduate and graduate programs. "That's just such a great sign of where we're going," he concluded.