Notice to CFP- Professionals- Importance of Accurate Compensation Disclosures

For CFP® Professionals

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Notice to CFP® Professionals: Importance of Accurate Compensation Disclosures

CFP BOARD ADOPTS NEW CODE OF ETHICS AND STANDARDS OF CONDUCT

The new Code and Standards takes effect Oct. 1, 2019, and includes a range of important changes, including expanding the scope of the fiduciary standard that requires CFP® professionals to act in the best interest of the client at all times when providing financial advice.  Learn More

On August 7, 2013, CFP Board issued a notice to CFP® professionals regarding the importance of compensation disclosures to clients.  The Notice provides an important reminder that CFP® professionals are required to disclose to clients and prospective clients information concerning the CFP® professional’s compensation.  The purpose of the Notice is to remind CFP® professionals of both the scope of the term “compensation” and the obligation to make accurate disclosures of compensation methods on all public websites, including on related-party websites, public search engines, and public disclosure forms, including Form ADV.  Disclosures of compensation methods must remain accurate throughout each client relationship. 

Download the Notice (PDF, 57KB)

Access sample Disclosure Forms from CFP Board

Review additional resources related to compliance with CFP Board's Standards of Professional Conduct

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