fiduciary / financial advice financial adviser

Can you trust the Certified Financial Planner designation?

An investigation by The Wall Street Journal revealed that “thousands of advisers with the coveted Certified Financial Planner designation listed in the group’s public directory as having clean records had histories of customer complaints, bankruptcies, regulatory problems or criminal records.”

“The CFP Board had been relying solely on planners to self-report red flags in their records when they renewed their certification annually. The Journal’s investigation found that many such red flags were publicly disclosed on a website run by the Financial Industry Regulatory Authority, a watchdog organization funded by the brokerage industry—but not in the CFP Board’s directory”:     LetsMakeAPlan.org

Source: CFP Board to Tighten Oversight of Financial Advisers


Source: Financial Planning for Women