The National Association of Independent Public Finance Advisors (NAIPFA) is a professional organization limited to firms that specialize in providing financial advice on bond sales and financial planning on public projects of public agencies. NAIPFA member firms must be completely independent of the underwriting of municipal securities by banks and securities dealers. Member firms must also be structured such that financial advice is not incidental to any other service.
The purpose of the Association is to promote the common interests of independent advisory firm members. Initially, efforts will build credibility and recognition by implementing a public relations and marketing plan to champion the professional, independent image of the member firms.
The Association will speak to those issues of common interest to its membership which can best be addressed by a third party, and will seek to improve our effectiveness in influencing legislative matters of interest to our industry and clients.
The Association will seek to unify the member firms to develop and promote rigid ethical and professional standards for firms and their employees, to review compliance with those standards, to provide educational materials describing the role of the independent advisor and to respond to legislative needs on behalf of the member firms and the public agencies they serve.
Member firms must be qualified by experience and practice to advise and assist public agencies on financing capital improvements and in issuing bonds, as their primary business.
Qualified employees of member firms may become Certified Independent Public Finance Advisors (CIPFA). The employee must be a current employee of the firm, have worked for the member firm for two years not less than 75 percent full time, and have continuously performed financial advisory services for a period of two years. A Bachelors degree or six years of experience in public finance, successful completion of the Certification Test, plus other eligibility standards are required.