The F(iduciary) Word

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The F(iduciary) Word

Jul 25, 2012

[The] Dodd-Frank [Wall Street Reform and Consumer Protection Act] gave the Securities and Exchange Commission (SEC) the authority to extend the fiduciary standard of care to any financial professional who provides personalized investment advice to retail customers. The SEC is still working through the proposed implementation of the fiduciary standard, so to find out where things stand, I went to one of the standard's most outspoken proponents, Kevin Keller, CEO of the Certified Financial Planner Board of Standards (CFP Board).

The CFP Board is the organization that bestows the CFP® certification onto those financial planners who complete a rigorous course of study, pass a tough exam and maintain ongoing education and ethical requirements. I have been a CFP® [professional] since 1998. As Keller reminded me, "the CFP Board is first and foremost a nonprofit public interest organization, which is why it formerly adopted the fiduciary standard in May 2007." By doing so, all CFP® [professionals] are required to put the interests of their clients first. Read more >

CBS News
Jill Schlesinger
July 25, 2012

Speaker's Bureau
CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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