The CFP Board overhauled its Standards of Professional Conduct in 2008, including for the first time the fiduciary duty provisions mandating that [CFP®] certificants consistently provide financial advice that is demonstrably to the maximum benefit of their clients. And that rule, more than anything else, has come to define the CFP Board's work in upholding its standards of professional conduct, according to Michael Shaw, the organization's managing director of professional standards and legal.

"There's no question the single biggest change to those standards was the incorporation of the fiduciary standard," Shaw said in a recent interview. "Whenever we talk about CFP Board's ethical standards, we start with fiduciary standard." Read more >

Financial Planning
Kenneth Corbin
October 28, 2012