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30450 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Books and Records; Conflict of Interest; Disclosure to Clients; Client's Best Interest
Standard(s) Violated: Article Article 3(d); 4.4; 4.3; 2.2(b); 1.4; Article 3(a)
Matter Type(s): Regulatory Action; CFP Board
Decision Date: 10/02/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: (a) seek best execution for clients when investing them in share classes that charged 12b-1 fees despite the availability of corresponding share classes without the fees; (b) disclose in his firm’s Forms ADV and advisory agreements the conflicts of interest that existed regarding his recommendations to clients of mutual funds that contained 12b-1 fees; and (c) perform required annual compliance reviews.


24137 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fraud Related to Professional Activity; Customer Complaints; Professionalism; Client's Best Interest
Standard(s) Violated: Article 4.4; 2.1; 6.5; 4.5; 1.4
Matter Type(s): Civil Court
Decision Date: 12/06/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) obtained approval for a commission increase on a 401K plan from a company executive who did not normally approve such changes; and 2) recommended that officers of the company transfer management of their personal assets to Respondent’s new firm without disclosing that they would incur surrender charges.

24933 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Disclosure to Clients; Fitness; Customer Complaints; Unauthorized Transaction; Professionalism; Diligence
Standard(s) Violated: Article Article 3(a); 4.4; 6.5; 2.2(b)
Matter Type(s): Client Dissatisfaction
Decision Date: 06/21/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) made unauthorized trades by liquidating a deceased client’s trust account causing the trust to incur commissions; 2) was unaware that the bank trustee could have contacted the broker-dealer directly to avoid transaction costs; and 3) agreed to accept $200,000 as a beneficiary of the client’s trust account, while maintaining his role advisor to the trust.

30034 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Professionalism; Securities Laws Violation; Professional Discipline
Standard(s) Violated: Article 4.3; 4.1; Article 3(a); 1.4
Matter Type(s): Regulatory Action
Decision Date: 10/06/2016
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he entered into a settlement with the State Department of Consumer and Business Services Division of Finance and Corporate Securities (“State”), in which State found Respondent charged unreasonable advisory fees on rare coins because he relied on an inaccurate source to value the coins.

Page 1 of 1 , 4 Items in Total