CFP Board Releases Latest Draft of New Standards

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CFP Board Releases Latest Draft of New Standards

Dec 20, 2017
Advisors and others can comment on the latest proposal from Jan. 2 - Feb. 2

The Certified Financial Planner Board of Standards today released a revised version of its proposed Code of Ethics and Standards of Conduct. Like the earlier version released in June, the proposal sets a fiduciary standard that requires CFP[®] professionals to act in the best interest of clients when providing financial advice, not just financial planning as the board's current standards require. (Planning is a category within financial advice.)

The latest proposal also expands the current standard concerning conflicts of interest to include “full disclosure of all material conflicts” and it contains specific descriptions of different types of advisor compensation. Read more >

By Bernice Napach
December 20, 2017

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