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CFP Board Censures Improper CFP® Certificant Conduct

Jan 01, 2005
Certified Financial Planner Board of Standards Inc. today announced public disciplinary actions against the following individuals' rights to use the CFP® certification marks, effective immediately.

STATE NAME LOCATION DISCIPLINE
Massachusetts Bradford C. Bleidt Boston Interim Suspension

CFP Board issued Bradford C. Bleidt an interim suspension, prohibiting him from using the CFP® certification marks, effective immediately. This disciplinary action was taken by the Board of Professional Review, a board of CFP® certificants that interprets and applies CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards as well as investigates, deliberates and takes appropriate action with respect to alleged violations of the Code of Ethics or Practice Standards by CFP certificants. The basis for each decision can be found in the attached report. Consumers can check on a planner's disciplinary history and certification status with CFP Board at www.CFP.net.

CFP Board can temporarily suspend an individual's right to use the CFP® marks when it appears that the individual has 1) been convicted of a serious crime, 2) been the subject of a suspension by any governmental or industry self-regulatory authority, 3) taken property or funds not his or her own for personal use, or 4) engaged in conduct that poses an immediate threat to the public, pending the resolution of the underlying disciplinary case. Before an interim suspension is issued, the individual has the opportunity to show by a preponderance of evidence that he or she does not pose an immediate threat to the public and that the gravity of the nature of his or her conduct does not impinge on the stature and reputation of the CFP® marks.

DISCIPLINARY ACTION REPORT
January 2005

MASSACHUSETTS

Bradford C. Bleidt (Boston): On December 13, 2004, CFP Board issued an interim suspension against Mr. Bleidt temporarily suspending his right to use the CFP certification marks after he failed to respond to CFP Board's November 2004 Order to Show Cause requiring him to provide evidence why his right to use CFP®, CERTIFIED FINANCIAL PLANNER™ and certification marks (CFP marks) should not be suspended during CFP Board's investigation. The Order to Show Cause was issued after CFP Board discovered that the SEC filed a complaint for injunctive relief against Mr. Bleidt prohibiting him from engaging in further violations of federal securities laws based upon his admissions that he stole millions of dollars from over his clients over the past twenty years. Mr. Bleidt's right to use the CFP marks is immediately suspended until further notice.

CFP Board, a nonprofit regulatory organization, fosters professional standards in personal financial planning so that the public values, has access to and benefits from competent and ethical financial planning. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and , which it awards to individuals who successfully complete initial and ongoing certification requirements. CFP Board currently authorizes more than 44,000 individuals to use these marks in the United States.  

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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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