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CFP Board in the News

'Financial Self-Defense for Seniors' Offers Tips on Financial Security

Mar 30, 2013

The stories sound too outrageous to be true.

An elderly woman in need of cash asks her housekeeper to drive her to the bank to apply for a reverse mortgage. She's escorted to the housekeeper's banker boyfriend, who dupes the woman into signing for a conventional mortgage. When she can't make the payments, she loses her home.

A 78-year-old man, dying of cancer, is persuaded to buy a variable annuity. The transaction generates a big commission for the seller but locks up the man's money for five years if he wants to avoid huge surrender fees.

Both are real-life situations described in a new consumer guide for older Americans and their families aimed at helping them avoid being conned out of their money.

The free 28-page guide -- "Financial Self-Defense for Seniors" -- was written by Eleanor Blayney, [CFP®], Consumer Advocate for the Certified Financial Planner Board of Standards, the nonprofit group that sets the educational and ethical standards for the [CFP® certification] designation. Read more >

Pittsburgh Post-Gazette
Patricia Sabatini
March 30, 2013

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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