Page 1 of 1 , 11 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.


28882 – Anonymous Case History
Decision: Letter of Admonition
Keyword(s): Diligence; Employer Policy Violation; Misrepresentation
Standard(s) Violated: Article Article 3(a); 6.5; 5.1; 4.4
Matter Type(s): Customer Complaint; Client Dissatisfaction
Decision Date: 06/01/2014
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he 1) executed a trade for a client at a later time and date than the client original requested; 2) misstated to the client his firm’s policy on management fees charged on cash balances; 3) directed his assistant to falsely state on a membership renewal application that he had no customer complaints within the last five years when he did; and 4) accepting a trade for a client via email.


24706 – Anonymous Case History
Decision: Private Censure
Keyword(s): Conflict of Interest; Disclosure to Clients; Client's Best Interest; Diligence
Standard(s) Violated: Article 4.4; 1.4; 4.1; Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 08/21/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to: 1) communicate with Husband and Wife appropriately regarding conflicts with representing both after he became aware of their potential divorce; and 2) appropriately respond to Wife’s inquiries and subsequent check processing by failing to inform her that Husband refused to consent to the sale of investments to cover a large check.

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.

25200 – Anonymous Case History
Decision: Granted Petition
Keyword(s): Commission/Compensation; Misrepresentation; Conflict of Interest; Loaning to Client; Disclosure to Clients; Securities Laws Violation; Competency; Commingling; Fiduciary Duty; Diligence
Standard(s) Violated: Article 402; 301; 606(b); Article 3(a); 607; 102; 606(a); 103(d); 302; 701; 403
Matter Type(s): CFP Board
Decision Date: 03/25/2011
Summary: Whether an applicant for reinstatement of his CFP® certification (“Respondent”) demonstrated rehabilitation by clear and convincing evidence that he complied with all disciplinary orders and provisions of the Disciplinary Rules and Procedures and is, once again, fit to use the CFP®, CERTIFIED FINANCIAL PLANNER™, and certification marks.

28077 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Professional Discipline; Misrepresentation; Employer Policy Violation
Standard(s) Violated: Article 4.4; 4.3; 5.1; 2.1; 6.1
Matter Type(s): Professionalism
Decision Date: 07/31/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she provided information to a client’s creditors regarding purported wire transfers from the client’s brokerage accounts which the client had not actually made.

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.

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.


30577 – Anonymous Case History
Decision: Private Censure
Keyword(s): Conflict of Interest
Standard(s) Violated: Article Article 3(a); 4.4; 4.3; 4.1
Matter Type(s): Other Professional Discipline
Decision Date: 10/18/2017
Summary:

Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) filed a separate tax return for WF for 2013 after receiving a request by BS to file jointly and without informing BS that WF requested Respondent file a separate tax return for that tax year; and 2) improperly assessed a BS a fee for his services.  


28835 – Anonymous Case History
Decision: Suspension
Keyword(s): Borrowing from Client
Standard(s) Violated: Article 3.6; 4.4; Article 3(b); 1.4; 607; 6.5; 2.2(e); Article 3(a); 201; 606(b)
Matter Type(s): Professionalism
Decision Date: 10/16/2015
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he failed to exercise reasonable and prudent judgment when he: 1) through his alter ego, his company, borrowed money from multiple clients, including a financial planning client; and 2) personally borrowed money from a client.

30628 – Anonymous Case History
Decision: Suspension
Keyword(s): Failure to Respond to CFP Board; Misrepresentation; Professionalism; Diligence; Suitability; Fiduciary Duty; Client's Best Interest
Standard(s) Violated: Article 4.5; Article 3(b); Article 3(f); 701; 400-3; 4.4; 300-1; 202; 2.1; 1.4
Matter Type(s): Customer Complaint; Complaint to CFP Board
Decision Date: 02/01/2019
Summary:

Whether a CFP® professional violated CFP Board’s Standards of Professional Conduct when he repeatedly and over the course of time failed to act in the interest of his client because he: (a) did not provide the client with the financial planning services outlined in the Financial Planning Agreement; (b) failed to schedule annual portfolio reviews with a client to consider whether her current holdings matched her current priorities; and (c) failed to update the client’s portfolio based upon her changed circumstances after she lost her job, became ill, and grew increasingly closer to retirement.


Page 1 of 1 , 11 Items in Total