Page 1 of 1 , 10 Items in Total
11390 – Anonymous Case History
Decision: Suspension
Keyword(s): Arbitration; Failure to Notify CFP Board; Misappropriation; Breach of Contract; Bankruptcy; Misrepresentation; Forgery; Customer Complaints; Lawsuits Involving Financial Matters
Standard(s) Violated: Article 201; 607; Article 3(c); Article 3(a); 102; 606(b); Article 3(e)
Matter Type(s): Civil Court
Decision Date: 04/16/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when she: 1) filed for Chapter 7 Bankruptcy; 2) was convicted of Operating a Motor Vehicle While Ability Impaired by Alcohol; and 3) was the subject of a series of arbitrations and customer complaints from 2001 through 2007.

14399 – Anonymous Case History
Decision: Suspension
Keyword(s): Record-Keeping; Failure to Notify CFP Board; Outside Business Activity; Previous Discipline; Conflict of Interest
Standard(s) Violated: Article 406; Article 3(a); 606(a); Article 3(e); 607; 606(b); 407(a)
Matter Type(s): FINRA Arbitration; Civil Court
Decision Date: 08/10/2009
Summary: Whether a CFP® certificant violated CFP Board’s Standards of Professional Conduct when he conducted outside business activities without disclosing them to his employer and without obtaining his employer’s approval.

16145 – Anonymous Case History
Decision: Suspension
Keyword(s): Professional Discipline; Fraud Related to Professional Activity; Customer Complaints; Suitability; Settlement; Diligence; Record-Keeping; Fitness; Disclosure to Clients; Client's Best Interest; Lawsuits Involving Financial Matters; Negligence; Competency
Standard(s) Violated: Article 606(a); 201; 401(a); Article 3(a); 405; 402; 606(b); 607; 102
Matter Type(s): Client Dissatisfaction
Decision Date: 03/26/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) treated a client’s payments as nontaxable gifts rather than taxable income; 2) did not disclose the income on his 2000 and 2001 state and federal tax returns; 3) did not disclose to a client the potential for a conflict of interest in serving as the appointed trustee of a trust and as an investment adviser for the trust; 4) double and triple charged clients for services; and 5) failed to disclose commissions.

20996 – Anonymous Case History
Decision: Suspension
Keyword(s): Settlement; Commission/Compensation
Standard(s) Violated: Article 703; 606(b); 202; 607; 702(b); 701; 102; 201
Matter Type(s): Civil Court
Decision Date: 03/27/2012
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) represented that an annuity maximization concept was appropriate and reasonably designed to meet Client’s needs and goals; 2) failed to disclose to Client that he received a commission due to his sale of a universal life insurance policy to her; 3) misrepresented Client’s assets in order to obtain the universal life insurance policy; 4) recommending a transaction that was inappropriate for Client but allowed Respondent to gain financially; 5) failed to disclose the tax consequences of the sale of mutual funds; 6) failed to fully investigate Client’s heir’s tax liability by considering the state and federal inheritance tax exemptions and the cost basis of each individual annuity; and 7) failed to appropriately determine Client’s cash flow needs in relation to her potential long-term care needs.

22305 – Anonymous Case History
Decision: Suspension
Keyword(s): Diligence; Employer Policy Violation; Conflict of Interest; Borrowing from Client
Standard(s) Violated: Article Article 3(a); 406; 201; 606(b); 409; 607
Matter Type(s): Professionalism; Civil Court
Decision Date: 04/06/2012
Summary: Whether a CFP® professional ("Respondent") violated CFP Board's Standards of Professional Conduct when he: 1) accepted a $100,000 loan from a client, which violated his firm's policy against borrowing from clients; 2) failed to repay the client's loan according to the original terms of the promssory note; 3) failed to disclose any potential conflicts of interest and the risks associated with the promissory note; 4) failed to determine whether the promissory note he executed with his client was appropriate for his client; 5) allowed the client to purchase a piece of real estate for Respondent's benefit; and 6) failed to disclose any potential conflicts of interest and the risks associated with the client's purchase of a piece of real estate.

22961 – Anonymous Case History
Decision: Suspension
Keyword(s): Misrepresentation; Fitness; Forgery
Standard(s) Violated: Article 606(b); 406; 607; 201; Article 3(a); 102
Matter Type(s): Professionalism; Client Dissatisfaction
Decision Date: 03/23/2010
Summary: Whether a candidate for CFP® certification violated CFP Board’s Standards of Professional Conduct when he signed his clients’ initials to account-related documents and represented to his employer that the initials were made by the clients.

23337 – Anonymous Case History
Decision: Suspension
Keyword(s): Other Ethics; Fitness; Misrepresentation
Standard(s) Violated: Article 607; 102; 101(b); Article 3(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 01/06/2010
Summary: Whether a CFP® certificant (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he used copyrighted materials without permission or attribution.

23352 – Anonymous Case History
Decision: Suspension
Keyword(s): Customer Complaints; Client's Best Interest; Suitability; Fiduciary Duty
Standard(s) Violated: Article Article 3(a); 202; 201; 607; 606(b); Article 3(b); 703
Matter Type(s): Client Dissatisfaction
Decision Date: 12/28/2011
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct (“Standards”) when he failed to: 1) perform an investigation and analysis into the insurance needs of his clients prior to recommending that they purchase insurance policies; 2) perform a cash flow analysis regarding his client’s ability to pay the premiums for the insurance policies recommended by Respondent; and 3) present his insurance recommendations and ensure that the recommendations met his client’s expectations with respect to their ability to “premium offset” in five years.

24651 – Anonymous Case History
Decision: Suspension
Keyword(s): Employer Policy Violation; Forgery; Professional Discipline; Fraud Related to Professional Activity; Misrepresentation; Professionalism; Diligence
Standard(s) Violated: Article 201; 406; 606(b); 102; 607; 606(a)
Matter Type(s): Client Dissatisfaction
Decision Date: 08/06/2010
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he affixed multiple client signatures on documents and purchased financial plans for two clients with his own funds in violation of firm policy, National Association of Securities Dealers (“NASD,” now Financial Industry Regulatory Authority or “FINRA”) Conduct Rule 2110, and a state insurance code provision.

25698 – Anonymous Case History
Decision: Suspension
Keyword(s): Commission/Compensation; Suitability; Borrowing from Client; Misrepresentation; Conflict of Interest
Standard(s) Violated: Article 704; 102; 606(b); 409; 607; 501; 201
Matter Type(s): Civil Court
Decision Date: 07/10/2013
Summary: Whether a CFP® professional (“Respondent”) violated CFP Board’s Standards of Professional Conduct when he: 1) described three private placement funds to a client as being safe and secure when they were actually highly speculative, nonpublic investments; 2) recommended and implemented a life insurance exchange for a client that resulted in more expense and less benefit for the client and a large commission for Respondent; 3) recommended and implemented an annuity exchange for a client that created a surrender penalty of approximately $21,000 for the client and a large commission for Respondent; 4) recommended three private placements to a client in which Respondent was personally invested; 5) accepted an interest-free loan from a client without executing a promissory note; and 6) forwarded a client’s contact information to the representatives of three private placements without the client’s consent.

Page 1 of 1 , 10 Items in Total