News & Updates
CFP Board Completes 2024 Compensation Study
CFP® Board Updates The CFP Board has released its updated Compensation Study, and it shows the CFP Professionals earn more than their fellow advisors without the certification. In fact, it revealed a median compensation of $192,000, which is 10% higher than those without the CFP® Marks. Not only that, CFP® Professionals report greater satisfaction with…
Read MoreThe FED’s 50 Basis Point Interest Rate Cut
CFP® Certificants in the News CFP Board’s most recent newsletter advises that the “Federal Reserve announced a significant 50 basis point rate cut, surprising many who anticipated a smaller 25 basis point reduction.” CFP Board Ambassador Kurt Whitesell, CFP® highlighted the opportunity for investors to lock in high rates on CDs before further interest rate drops.” …
Read MoreHaving Your Cake and Eating It Too
Good to Know “She cannot eat her cake and have her cake.” Jonathan Swift, Polite Conversation 1738 What does this quote from almost 3 centuries ago have to do with Medicaid eligibility? Conventional wisdom tells us that no one can qualify for nursing home care under Medicaid insurance and simultaneously have assets or income in…
Read MoreCFP Board Certification Marks Usage Updated
CFP® Board Updates Say goodbye to the TM after CERTIFIED FINANCIAL PLANNER. It’s now an ®. The U.S. Patent and Trademark Office officially registered the CERTIFIED FINANCIAL PLANNER® mark earlier this summer, strengthening the legal protections. This change signifies a great achievement for the CFP Board and Professionals alike. It means the mark is now…
Read MoreRetirement—Hope Is Not A Plan
Good to Know Just two of every ten workers are very confident about having a financially comfortable retirement, according to the EBRI® 34th Annual Retirement Confidence Survey. What is driving this lack of confidence? Factors include inflation fears, Social Security concerns, and a recession threat. Inflation—More than 8 of every 10 workers believe that just paying…
Read MoreWill Artificial Intelligence Make Human-Based Financial Advice Obsolete?
CFP® Certificants in the News CFP Board tackles this article’s titular question with its recent article ominously titled “Yes, AI IS Going To Take Your Job.” That provocative title may be a bit dramatic but it is a wakeup call for financial advisors and planners. We’re at a crossroads but not a dead end—CFP Board…
Read MoreIs Your Client Using the Wrong Buy-Sell Agreement?
Good to Know Are you looking for new ways to stay in contact with your closely held business owner clients and showcase your financial planning prowess? A recent Supreme Court decision in Connelly v. United States gives savvy financial advisors and planners an opportunity to do just that. But before getting to the court decision, we’ll…
Read MoreCFP Board Releases July Exam Results
CFP® Board Updates The CFP Board announced the results of the July 2024 exam. This year’s July exam was administered between July 9th and 16th. During this window, 2,999 candidates took the exam, during which 65% received passing scores. The turnout for the July exam was the 2nd largest in exam history, demonstrating the growing presence of…
Read MoreCFP Board Sanctions
CFP® Certificants in the News The authority to display the CFP® mark is a privilege, not an absolute right. Recent CFP Board disciplinary actions underscore that point emphatically. We’ll summarize three such actions in this article, beginning with Public Censure. STRATEGIES FOR MANAGING CONCENTRATED WEALTH Clients who have their wealth concentrated in a single asset have unique…
Read MoreCFP Board Announces new Chair-Elect
CFP® Board Updates At its July meeting, The CFP Board of Directors announced that it has elected Terri Kallsen as its 2025 Board Chair-Elect. She will serve as the Chair of the Board if Directors in 2026. Liz Miller, the 2024 Chair-Elect, will serve as Chair of the Board in 2025. To learn more about…
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