CFP Board Demands Standards for Financial Designations

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CFP Board Demands Standards for Financial Designations

Aug 21, 2012

Due to pervasive financial abuse of America's senior citizens, the Certified Financial Planner Board of Standards is urging the adoption of a set of standards for financial planning designations.

A set of standards ranking the many designations used by those who claim to be financial advisors would help all Americans, and especially seniors, determine which designations mean a planner has proper training and which designations are meaningless or meant to deceive, says the CFP Board.

[CFP Board] asked the Consumer Financial Protection Bureau to develop such a rating system in a letter delivered Tuesday. Read more >

Financial Advisor
Karen DeMasters
August 21, 2012

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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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