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CFP Board Urges Consumer Financial Protection Bureau to Create Rating System for Certifications and Desginations

Aug 20, 2012
On August 20, 2012, CFP Board submitted a comment letter in response to a Request for Information (RFI) by the CFPB.  The letter and accompanying research “Senior Financial Exploitation Study” shows, financial abuse and exploitation of the elderly is a serious problem.  CFP Board highlighted the deceptive or misleading use of financial certifications, designations, and titles as well as the lack of guidance for consumers –especially seniors– on which designations can be trusted.  To address this concern, CFP Board encouraged the establishment of a rating system for financial certifications and designations, which could be based on objective criteria (modeled on best practices for certifications) against which certifications and designations could be evaluated and rated.

Read CFP Board's news release

Speaker's Bureau
CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call himself a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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