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30547 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Failure-to-Disclose-to-Firm; Client's Best Interest; Fiduciary Duty; Failure-to-Supervise
Standard(s) Violated: Article Article 3(g); Article 3(a); 6.1; 4.6; 5.1; 4.3; 6.5; 1.4
Matter Type(s): Employer-Investigation
Decision Date: 06/01/2018
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) failed to properly supervise subordinates, resulting in one subordinate being named as a beneficiary of several clients’ accounts, creating a conflict of interest; (2) was named as a beneficiary in several client accounts, in violation of firm policy; and (3) failed to disclose and obtain approval from his firm after he was named as a beneficiary of both client and non-client accounts.


30596 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Client's Best Interest; Fiduciary Duty
Standard(s) Violated: Article Article 3(a); 4.3
Matter Type(s): Regulatory Action
Decision Date: 02/01/2018
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: (1) violated a State’s fiduciary rule by failing to refund prepaid and unearned fees in a timely manner, as stipulated by Respondent’s Forms ADV; (2) failed to provide notice to clients for the withholding of such fees over $500, in violation of State A’s rules; and (3) failed to provide each client with a compliant Form ADV.

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.


30434 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Securities Laws Violation; Professional Discipline; Misrepresentation; Fiduciary Duty; Suitability
Standard(s) Violated: Article Article 3(d); Article 3(a); 4.3; 2.1; 1.4
Matter Type(s): Customer Complaint; Other Professional Discipline
Decision Date: 07/01/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) failed to act with the duty of care of a fiduciary when he charged clients an unreasonable investment advisory fee in violation of State law; and 2) failed to disclose the risks involved with Real Estate Investment Trusts (“REIT”) and non-traded REITs in his Form ADV Part 2 in violation of State law.


Page 1 of 1 , 4 Items in Total