CFP Board Discloses Bankruptcies by CFP® Professionals

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CFP Board Discloses Bankruptcies by CFP® Professionals

Dec 06, 2018

Certified Financial Planner Board of Standards, Inc. announces today the names of CFP® professionals who (i) have filed for protection or been named as a debtor in an involuntary bankruptcy petition that has not been dismissed under the United States Bankruptcy Code within the last five years; and (ii) have (a) obtained confirmation of a plan under Chapter 11 or Chapter 13 of the United States Bankruptcy Code or (b) received a discharge under the United States Bankruptcy Code.  Under the CFP Board rules that took effect July 1, 2012, these CFP® professionals are not subject to disciplinary procedures but will have their bankruptcy disclosed.

CFP Board does not investigate, and the Disciplinary and Ethics Commission does not adjudicate, matters involving only a single bankruptcy. Rather, CFP Board verifies that the CFP® professional has filed a petition for bankruptcy within the last five years and that the bankruptcy court has adjudicated the bankruptcy.  CFP Board then discloses the bankruptcy on the CFP® professional’s public profile, which is available through the search functions on CFP Board’s website. CFP Board will also share with consumers and other stakeholders who contact CFP Board regarding a CFP® professional’s certification status the information in the CFP® professional’s public profile, including identifying whether the CFP® professional was the subject of a bankruptcy petition. All disclosures regarding a CFP® professional’s bankruptcy will remain on CFP Board’s website for 10 years from the earlier of the date the CFP® professional disclosed the bankruptcy to CFP Board or the date CFP Board became aware of the bankruptcy.

The public may review an individual’s bankruptcy information and certification status with CFP Board at www.CFP.net/search. For more detail regarding a CFP® professional’s bankruptcy, please visit the U.S. Court’s Public Access to Court Electronic Records (PACER) website, which can be found at https://pacer.login.uscourts.gov/cgi-bin/login.pl?court_id=00pcl. Please note that you will be required to register and pay a nominal fee to view the information.

This disclosure of these names is made pursuant to CFP Board’s rules regarding single-bankruptcy cases and covers the second and third quarters of 2018. The release of the information below does not constitute discipline of these individuals and is provided only for purposes of providing consumers with adequate information to make an informed decision with regard to engaging a CFP® professional to assist with financial decisions. 

NAME LOCATION STATE BANKRUPTCY TYPE FILING DATE
Mr. Charles S. Cannon, CFP® Portland OR Personal November 2016
Mr. Erlee James Clark, CFP® Tampa FL Personal November 2016
Mr. Sean Luigi Covi, CFP® Denver CO Personal June 2018
Mr. Joseph Ellison, CFP® Los Angeles CA Personal July 2014
Ms. Melissa A. Frederick, CFP® Newark NJ Personal February 2018
Mr. Rommel Garcia, CFP® Gainesville FL Personal December 2015
Ms. Julian Locke, CFP® St. Paul MN Personal April 2015
Ms. Heather Rae Nidetch, CFP® New York NY Personal August 2015
Mr. James R. Ouellette, CFP® Concord NH Personal March 2018
Ms. Mary A. Reinoehl, CFP® Philadelphia PA Personal August 2016
Mr. Dwight W. Rich, CFP® Louisville KY Personal August 2017
Mr. Frederick Allen Rich, CFP® Fresno CA Personal May 2015

ABOUT CFP BOARD

Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S.  CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning.  CFP Board, along with its Center for Financial Planning, is committed to increasing the public’s awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms as the standard for financial planning, CFP® certification is held by over 82,000 people in the United States.

CONTACT: Jessica Lewis, Communications Specialist P: 202-379-2256 M: 301-655-0389 E: JLewis@cfpboard.org Twitter: @cfpboardmedia

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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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