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CFP board ruling

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Jun 1, 2007 4:34 am

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?

Jun 1, 2007 5:01 am


[quote]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.[/quote]

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.