Page 1 of 1 , 24 Items in Total
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.


18767 – Anonymous Case History
Decision: Suspension
Keyword(s): Outside Business Activity; Misrepresentation; Professional Discipline; Commission/Compensation; Arbitration
Standard(s) Violated: Article 607; Article 3(a); 701; 406; Article 3(e); Article 3(d); 606(a); 606(b); 102; 201; 202; 405
Matter Type(s): FINRA Arbitration
Decision Date: 04/26/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he violated: 1) sections of the State Securities Act by selling unregistered securities; 2) the 2004 State Securities Board (“SSB”) Undertaking and 2005 SSB Order regarding supervision; 3) the 2004 SSB Undertaking and sections of the State Securities Act by failing to fully complete forms before obtaining client signatures; 4) sections of the State Securities Act by failing to disclose required information on his Form U4 and making material misrepresentations to the State Commissioner; 5) the 2004 SSB Undertaking and 2005 SSB Order by engaging in unsuitable transactions; and 6) National Association of Securities Dealers (“NASD,” now known as the Financial Industry Regulatory Authority or “FINRA”) Conduct Rules by accepting a gift and/or gratuity in excess of $100 and charging clients both investment advisory fees and prohibited commissions.

19075 – Anonymous Case History
Decision: Revocation by DEC
Keyword(s): Fiduciary Duty; Professionalism; Commission/Compensation; Disclosure to Clients; Commingling; Suitability; Diligence; Client's Best Interest; Fitness
Standard(s) Violated: Article 402; 610; 607; 703; 103(e); 702(a); Article 3(a); 201; 405; 701; 103(d); 202
Matter Type(s): Client Dissatisfaction; Professionalism; Civil Court
Decision Date: 08/13/2009
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he performed financial planning services for a client’s (“Client”) father (“Client’s Father”) without providing to the Client’s Father a written financial planning agreement and written disclosures and when he received the Client’s Father’s funds through a bank account controlled by Respondent.

28197 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 2.2(a); 2.1; 6.5
Matter Type(s): Professionalism
Decision Date: 04/18/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she represented her compensation structure as “fee-only” on a public search engine.

28263 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1
Matter Type(s): CFP Board
Decision Date: 05/09/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she represented on her firm website that there were no conflicts of interest associated with her commission-based advice.

28285 – Anonymous Case History
Decision: Suspension
Keyword(s): Conflict of Interest; Professional Discipline; Outside Business Activity; Commission/Compensation; Employer Policy Violation; Client's Best Interest
Standard(s) Violated: Article 2.2(b); 6.5; 1.4; 5.1; 4.4; 4.3
Matter Type(s): FINRA Discipline
Decision Date: 09/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) engaged in an outside business activity without providing notice and receiving prior written approval from his Firm; and 2) falsely certified to his broker-dealer that he was not engaged in outside business activity.

28295 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.1; 2.2(a); 6.5
Matter Type(s): Professionalism
Decision Date: 06/17/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he represented his compensation as “fee-only” and later as “salary.”

28296 – Anonymous Case History
Decision: Dismiss--No Merit
Keyword(s): Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1
Matter Type(s): Professionalism
Decision Date: 05/15/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he represented that he was a salaried employee of his firm.

29246 – Anonymous Case History
Decision: Suspension
Keyword(s): Fiduciary Duty; Misrepresentation; Commission/Compensation; Conflict of Interest; Professional Discipline; Suitability; Securities Laws Violation
Standard(s) Violated: Article 4.5; 2.1; 2.2(a); 2.2(b); 4.3; 1.4; Article 3(d)
Matter Type(s): Other Professional Discipline
Decision Date: 10/01/2018
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct by making material misstatements and omissions to their clients while recommending that the clients invest in what was found to be a Ponzi-like investment scheme.


28972 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 2.1; 6.5; 2.2(a)
Matter Type(s): Professionalism
Decision Date: 07/31/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he misrepresented his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search tool.

29019 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1
Matter Type(s): Professionalism
Decision Date: 11/20/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he inaccurately disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function.

29042 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.2(a); 2.1; 6.5
Matter Type(s): Professionalism
Decision Date: 12/08/2014
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he publicly misrepresented his compensation method as “fee only” to clients and prospective clients on CFP Board’s “Find a CFP® Professional” search tool.

29043 – Anonymous Case History
Decision: Private Censure
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.2(a); 2.1; 6.5
Matter Type(s): Professionalism
Decision Date: 04/29/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she disclosed her compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function despite her employment with Bank, which is affiliated with a broker-dealer.

29220 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation; Disclosure to Clients
Standard(s) Violated: Article 6.5; 2.1; 2.2(a)
Matter Type(s): CFP Board
Decision Date: 06/26/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he publicly represented his compensation method as “fee only” on the “Find” search tool while registered with a broker-dealer that earns commissions for selling securities and while he still receives commissions for securities and insurance products that he previously sold.

29221 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.2(a); 2.1; 6.5
Matter Type(s): CFP Board
Decision Date: 04/29/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function while registered as a registered representative with a broker-dealer and while receiving trailing commissions as a licensed insurance agent.

29230 – Anonymous Case History
Decision: Private Censure
Keyword(s): Misrepresentation; Fee-Only; Disclosure to Clients
Standard(s) Violated: Article 2.1; 6.5; 2.2(a)
Matter Type(s): CFP Board
Decision Date: 06/26/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he publicly misrepresented his compensation method as “fee-only” to clients and prospective clients on CFP Board’s “Find a CFP® Professional” search tool because Respondent is entitled to receive commissions as a registered broker with a broker-dealer (“BD”) and received commissions.

29234 – Anonymous Case History
Decision: Private Censure
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 6.5; 2.2(a); 2.1
Matter Type(s): CFP Board
Decision Date: 04/13/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function while serving as a registered representative of a broker-dealer.

29235 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1
Matter Type(s): CFP Board
Decision Date: 04/24/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function, while registered as a registered representative and while receiving commissions from insurance sales.

29262 – Anonymous Case History
Decision: Private Censure
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.2(a); 6.5; 2.1
Matter Type(s): CFP Board
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function.

29269 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.2(a); 2.1; 6.1
Matter Type(s): CFP Board
Decision Date: 05/08/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function.

29271 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 6.5; 2.1; 2.2(a)
Matter Type(s): CFP Board
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function while registered as a registered representative with Broker-Dealer, a related party of Respondent that receives, or is entitled to receive commissions, and while he is entitled to receive referral fees if he refers clients to other affiliated of his employer.

29275 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 2.2(a); 6.5; 2.1
Matter Type(s): CFP Board
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he inaccurately disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function.

29287 – Anonymous Case History
Decision: Private Censure
Keyword(s): Commission/Compensation; Fee-Only
Standard(s) Violated: Article 2.2(a); 6.5; 2.1
Matter Type(s): CFP Board
Decision Date: 07/31/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he, disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function while receiving commissions from insurance sales.

29300 – Anonymous Case History
Decision: Private Censure
Keyword(s): Fee-Only; Commission/Compensation
Standard(s) Violated: Article 2.2(a); 2.1; 6.5
Matter Type(s): CFP Board
Decision Date: 04/10/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he disclosed his compensation structure as “fee-only” on CFP Board’s “Find a CFP® Professional” search function while he: 1) was entitled to receive commissions as a registered representative and due to being licensed and appointed to sell insurance; and 2) he earned a salary and bonus that is affected by referrals he makes to related parties that receive non-fee compensation.

Page 1 of 1 , 24 Items in Total