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A New Study Reports… Advisors with CFP® Certification Satisfy More Clients, Resulting in Increased Revenue
According to the Certified Financial Planner Board of Standards, Inc. (CFP Board), Advisors holding CERTIFIED FINANCIAL PLANNER™ (CFP®) designations provide a greater level of quality service to their clients, compared to those without the certification, resulting in higher client satisfaction. Higher client satisfaction in turn translates to increased revenue. This information is based on a…
Protection from Financial Abuse Pushes CFP Board to Create Standards for Financial Certifications and Designations
The Certified Financial Planner Board of Standards, Inc. (CFP Board) aims to prevent the use of any misleading and deceptive financial certifications and designations by recommending that the Consumer Financial Protection Bureau (CFPB) create a rating system for financial certifications and designations. The goal is to set a specific standard to help both seniors and…
CFP Board Proposes Changes to the Continuing Education Requirements of CFP(R) Certificants
After six months of reviewing the current continuing education requirements of Certified Financial Planner™ (CFP®) certificants, the Certified Financial Planner Board of Standards, Inc. (CFP Board) has established proposed changes to the current requirements. Last Friday, August 17, 2012, the CFP Board announced the proposal of the new rules regarding the continuing education requirement for…
Striking the Balance Between Risk and Rewards
Risk is everywhere. By simply owning a house, you put yourself at risk. What if someone gets injured on your property? We mitigate risks like these through homeowners insurance. We protect our car and ourselves while driving with auto insurance. So what do we do about our investments and our financial future? How do you…
Financial Planning Coalition Reacts to Adviser SRO Regulation
According to the Financial Planning Coalition, the Investment Adviser Oversight Act of 2012 aims to create a new regulatory regime to govern the operations of small and medium-sized advisory firms and, at the same time, protect the rights of public investors. Under this regulatory regime, the Financial Industry Regulatory Authority (FINRA) will become the Self-Regulatory Organization…
The Big Bust – Planner Takes $1.24 Million
A kickback is an illicit payment made to a person who uses their position of power to influence a transaction. The practice is common in the business and finance world. Since kickbacks are illegal, they are hidden, and therefore hard to discover at times. Not this time. It was discovered that Appleton’s founder and former…
Save Money for 2013
According to Consumer Advocate Eleanor Blayney, CFP®, the majority of Americans don’t pay adequate attention to their taxes. In their minds, everything is okay as long as there is a return. However, simply preparing a tax return is not enough to reap full benefits. “If Americans broadened their focus, they could discover savings in their…
CFP Board Approves Changes for the Better
On April 5, 2012, Certified Financial Planner Board of Standards, Inc. communicated changes incorporated into the CFP® designation. These changes were implemented to strengthen the rules and procedures and to clarify public disclosure. The changes mainly touch three domains of requirements: Experience, Bankruptcy Disclosure Procedure, and Amendments to Disciplinary Rules. Changes in the Experience Requirement:…
Creating Goals to Achieve Financial Freedom
We all have the goal of getting to retirement, having plenty of money, and doing the things we love. The problem is, a lot of folks don’t set a proper financial plan to reach that goal, or have unrealistic expectations of what retirement will be like. Everyone wants to be a millionaire, travel the world,…