CFP Board Puts Spotlight On Bankruptcies

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CFP Board Puts Spotlight On Bankruptcies

Jan 01, 2011

With the Certified Financial Planner Board of Standards Inc. this spring rolling out a national public awareness campaign to promote the message that CERTIFIED FINANCIAL PLANNER[™ professionals] should be the advisors of choice for the investing public, the organization will stress the need for certificants to live up to the billing.

“I think our primary focus in 2011 will be on education,” says Ed Mora, who in January begins his one-year stint as chairman of the CFP Board’s Disciplinary and Ethics Commission (DEC). He said that means more webinars and speaking engagements to get the word out to certificants to make sure they understand the rules and process, especially in light of the new public awareness campaign....

Mora says bankruptcy cases have risen “dramatically” in recent years due to the economic downturn. “Most we see are personal in nature, not necessarily the practice going under,” he notes.

A person can’t be awarded the CFP® marks if they’ve had a bankruptcy within the past five years, but Mora says the individual can appeal and the DEC will hear their case. Read more >

Financial Advisor
January 2011
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