A financial planner in Havertown, Pa., is currently on trial in Delaware County after being charged with more than 50 felony counts, primarily related to child pornography and the filming of child sex acts. In response, the CFP Board announced the automatic interim suspension of Daryll D. Claxton’s CFP certification, effective Dec. 14.
Claxton, who was registered with TIAA-CREF up until the end of April 2020, is in state custody awaiting trial for the felony charges, brought by The Court of Common Pleas of Delaware County in April. The judge in the case has scheduled a video status conference for Feb. 19, 2021. TIAA terminated his employment in April after learning of his arrest.
The case claims detectives discovered 25,000 child pornography images across 40 electronic devices in Claxton’s home and car, according to reports from a local CBS affiliate. Claxton’s bail was set at $250,000 cash.
The CFP Board filed a motion for an interim suspension order on Nov. 11, but Claxton did not file a response.
“On December 10, 2020, a Hearing Panel of the Commission determined that CFP Board demonstrated by a preponderance of the evidence that Mr. Claxton’s alleged conduct poses a significant threat to the public and that his alleged conduct significantly impinges upon the reputation of the profession or the CFP marks,” the CFP Board said, in a statement.
The suspension order by the CFP Board means that Claxton is forbidden from using the CFP certification marks pending an investigation and possible disciplinary hearings.