Complaint Procedures

Disciplinary Procedures

Common Questions

Submit a Complaint

Disciplinary Actions

Disciplinary Statistics

Ethical Standards

CFP Board Disciplinary Statistics

CFP Board requires CFP® certificants to adhere to CFP Board’s Standards of Professional Conduct ("Standards"), which includes the Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards.

As part of CFP Board’s active enforcement of the ethical rules and practice standards, CFP® certificants and those seeking initial CFP® certification are required to disclose matters that may indicate non-compliance with CFP Board’s Standards, such as regulatory investigations, lawsuits or arbitrations in which they have been involved. CFP Board also conducts routine background checks and utilizes several public and private resources to obtain information that might indicate violations of CFP Board’s ethical rules and practice standards. Additionally, consumers and professionals may file complaints directly with CFP Board. CFP Board’s professional standards department is responsible for reviewing all ethics-related matters brought to the attention of CFP Board.

Cases Opened and Closed by Year

Most CFP Board investigations do not result in disciplinary proceedings. However, if CFP Board obtains evidence indicating that violations of CFP Board’s ethical rules or practice standards exist, the matter is referred to the Disciplinary and Ethics Commission (Commission), which will hold a hearing and, where significant violations are found, impose a public discipline.

Public disciplinary action by the Commission can take one of four forms: a public letter of admonition; an interim suspension where the alleged conduct poses an immediate threat to the public and impinges upon the stature and reputation of the CFP® marks; a suspension for up to five years of the individual’s CFP® certification; or a permanent revocation of the individual’s CFP® certification. The type of discipline imposed will depend on the severity of the violations, any mitigating or aggravating circumstances, and the individual’s cooperation with CFP Board’s investigation. Disciplines imposed by the Commission may be appealed to CFP Board’s Appeals Committee, which may affirm or modify the Commission’s findings and discipline, remand a case for further consideration by the Commission, or dismiss the matter.

CFP Board issues a news release announcing public disciplinary actions approximately three times a year.

Hearing Decisions

¹ Some Hearing Decisions included a stay or continuance to next Hearings
² One Hearing resulted in a stay