|Jack Blankinship||Charles E. Foster|
John T. (Jack) Blankinship and Charles E. Foster followed different paths prior to forming Blankinship & Foster. Yet they agreed emphatically on their key philosophies, and they shared the same goals for their careers.
Jack worked with a large Wall Street firm, and after transferring to San Diego, he decided to start his own practice. The profession of Financial Planning was still in its early development stages, but Jack knew this was his calling. In 1974 he established Blankinship & Associates- an independent financial advisory firm with a focus on client-centered advice and financial planning. The firm grew, and Jack became known and well-respected both locally and nationally.
Charles managed businesses in the high tech field, using his engineering and business degrees, before making his career change in the mid-1980s to financial planning. Like Jack, he too, found his highest interest was helping people achieve their financial goals. In 1988, Charles joined Blankinship and Associates. He worked to increase the firm’s recognition with professionals, the community and local charitable organizations and was recognized by industry publications, such as Wealth Magazine and Medical Economics.
In 1989, the partnership of Blankinship & Foster was formed. Their shared beliefs for the profession and for their clients made their partnership successful.
The Fee-Only Movement
Early in Jack’s career, a movement to change the financial planning profession was gaining strength. It was a shift toward recognizing financial planners not as product salesmen, but as professionals providing important counsel on personal financial matters. Supporters of the movement established an educational institute to provide certification in the field. In 1973, the first graduating class earned their CFP credential from the College for Financial Planning.
Jack became part of this movement. Passionate about his profession, he focused on promoting the CFP designation and elevating the financial planning process from a “product delivery system” to a profession that delivered advice. He traveled the country gathering support from others in the financial services profession. While Jack’s belief system was not always shared or welcomed, he was committed to adding a “fiduciary standard” to the CFP Code of Ethics, which finally came to fruition in 2008. Jack served as President of the San Diego Chapter of the International Association for Financial Planners (IAFP), President of the Institute of Certified Financial Planners (ICFP) (which later became the Financial Planning Association), President of the Board of Governors for the CFP Board of Standards, and Chairman of the International CFP Council. His commitment was tireless.
Jack and Charles put together a team of professionals who shared their philosophy of client-centered services. Stefan Prvanov joined the firm in 2002, Jon Beyrer joined the firm in 2003 and Rick Brooks joined in 2004. In 2005, Stefan became a partner and in 2007, Jon and Rick became partners. On December 31, 2010, with a new leadership in place and a staff ready to continue a legacy, Charles and Jack retired.
An Enduring Legacy
Jack and Charles’ vision for Blankinship & Foster continues on today. The firm’s core values remain its driving force.
- Provide clients with the highest quality comprehensive financial planning and investment management services
- Always act in the best interest of our clients
- Demonstrate consistent integrity, candor and imagination
- Assist all employees in attaining their highest level of achievement and professional satisfaction
- Earn the highest public regard and set a standard of excellence in the profession