CFP® Board Updates The CFP Board has named D.A. Abrams, CAE as the new Managing Director of the Center for Financial Planning. In this role, Mr. Abrams will provide leadership and vision to the Center as it continues its focus on diversity, inclusion, and sustainability of the financial planning profession. The CFP Board Center for…

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CFP Board Updates The CFP Board Center for Financial Planning will be hosting its second annual Diversity Summit on November 13, 2019, in Washington, D.C. The purpose of the summit is to increase the racial and ethnic diversity of the financial planning profession. Last year, over 300 thought leaders attended the inaugural summit. The agenda…

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On June 5, 2019, The Securities and Exchange commission adopted the Regulation Best Interest Rule, along with other rulemakings and interpretations.  These actions were designed to enhance the quality and transparency retail investors’ relationships with advisors.  Concurrently, the CFP Board has made changes to the CFP Board Code of Ethics and Standards, which become effective…

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Four Surprises to be Aware Of: Psychological Warfare First 10 questions of the 1st exam session were complex to very complex calculations At least one had NO correct answer! Forewarned is forearmed Calculator proficiency is becoming important once again Disproportionate Practice Standards Testing Concepts versus minutiae Extreme focus in one topical area

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Those taking the July CFP® exam are well-served by understanding the new Medicare taxes. The 3.8% Medicare tax on unearned income and the .9% Medicare tax on wages and self-employment income are likely to be tested on the July Exam. The good news is that the Board is expected to provide the adjusted gross income…

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The CFP® Exam continues to evolve from the topic-based rubric of the past. Prior exams were built from a pre-set mix of questions from Fundamentals, Risk Management, Investments, Income Tax, Retirement, and Estate Planning. The CFP® Exam now focuses on eight “Job Task Domains.” Six domains mirror the six steps in the financial planning process while Communications…

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It is no secret that the CFP Board has placed greater and greater emphasis on the Standards of Professional Conduct required of certified financial planners. Evidence of this can be seen in the most recent national Board exams, where greater emphasis has been given to testing knowledge and compliance of these standards. To assist CFP® professionals in complying…

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The CFP Board is currently proposing to make the following changes in continuing education (CE) requirements for certified financial planners: Increasing total CE hours required for each renewal period (every 2 years) from 30 to 40 hours. Granting credit for practice management programs and/or pro bono activities sponsored by a registered CE sponsor organization (up…

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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…

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