So they finally adopted a fiduciary standard for all CFP's. Since many wirehouses will not allow their FA's to serve as a fiduciary, won't this negate their CFP credentials?
The updated Standards will become effective July 1, 2008. CFP Board believes the updated Standards move the ethical standards for CFP® certification forward in a way that benefits the public, and CFP Board encourages all CFP® professionals to integrate the updated Standards with their daily practice as soon as practical.
Expect to B/Ds to quickly tell RRs to stop promoting themselves as
CFP's lest anything think they operate for the benefit of the public.