News, Vision & Voice for the Advisory Community


The once underrespected CFP gets a lift after Merrill Lynch and now NAPFA make it central for newbies

Still, CFP certificants shoot down the idea of making the CEO credits requirements even harder, and fiduciary concerns linger

Wednesday, December 5, 2012 – 7:29 AM by Brooke Southall
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Kevin Keller: We are business-model- and compensation-neutral, but all CFP professionals are required to put client interests ahead of their own.

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Mentioned in this article:

National Association of Personal Finance Advisors
Top Executive: Geof Brown, CAE

Financial Planning Association
Top Executive: Lauren S. Schadle, CAE, Executive Director and CEO

Stephen Winks

Stephen Winks

December 5, 2012 — 5:35 PM

Business model neutrality is not conducive to fiduciary standing. The CFP constituency is so diverse as to not lend itself to a high standard that would alienate its membership. There is no equivalency between a suitability standard and a fiduciary standard just as there is no equivalency between a broker and an advisor. It is like saying an accountant is equivalent to a CPA.

Fiduciary standing essentially renders all designations obsolete, as any unique intellectual capital on trust or estate planning or portfolio construction, or work flow management or conflict m,anagement are inherent in best practices.


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