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30260 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Misrepresentation; Compensation; Fee-Only
Standard(s) Violated: Article Article 3(a); 2.1
Decision Date: 06/23/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct by communicating false or misleading information to clients or prospective clients when he (a) stated that he operated without any conflicts of interest, (b) suggested that he was not paid through commissions, and (c) and stated that all advisors who earn commissions do not act in the client’s best interest, make recommendations based on their own personal enrichment, and fail to disclosure to clients all relevant facts.  


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