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CFP Board



October 25, 2019


In This Issue:

New Code of Ethics and Standards of Conduct Now Effective

October 1, 2019 marked an important milestone for the CFP® certification, as our new Code of Ethics and Standards of Conduct took effect.

Animated Case Study VideoThe Code and Standards sets forth the ethical standards for CFP® professionals, and it replaces CFP Board’s previous Code of Ethics, Rules of Conduct, Financial Planning Practice Standards and Terminology. Through the new Code and Standards, CFP Board is advancing the role and value of the financial planning profession with a broader fiduciary standard that elevates public trust in CFP® professionals.

CFP Board wants all CFP® professionals to understand and comply with the new Code and Standards so that the public continues to look to CFP® certification for competent and ethical financial advice. We have developed a suite of resources in various formats, all designed to help CFP® professionals and their firms understand and comply with a CFP® professional’s obligations under the new Code and Standards, which are available on our website at www.CFP.net/code.

Our Board of Directors has adopted a June 30, 2020 enforcement date for the new Code and Standards that aligns with the enforcement date of the SEC’s Regulation BI, allowing our CFP® professionals and their firms ample time to modify their policies, adapt systems and be in alignment with the Code and Standards at the same time they adapt to Reg BI. For conduct that occurs between October 1, 2019 and June 29, 2020, CFP Board will continue to enforce violations of the previous Standards of Professional Conduct. Starting June 30, 2020 and onward, CFP® professionals will then be subject to potential disciplinary action for any violations of the new Code and Standards.

With the new Code and Standards now in effect, it is important for all CFP® professionals to live into our responsibilities and our fiduciary commitment to the public. Together, we are working to ensure that CFP® certification remains the standard of excellence in personal financial planning. We appreciate your support of CFP® certification and your commitment to providing your clients with competent and ethical financial advice.

New Animated Video: Case Study Applying New Code and Standards to Rollover Recommendation

CFP Board is developing short animated videos based on select Case Studies, which apply the new Code and Standards to hypothetical factual circumstances. The first video in the series applies the Code and Standards’ fiduciary duty to a circumstance involving a rollover recommendation.

Animated Case Study Video

Find other Case Studies and additional guidance resources on the new Code and Standards at www.CFP.net/code.

Public Forums on New Code and Standards in Denver, Phoenix, San Diego, Las Vegas, Dec. 3-5

Join CFP Board at a Public Forum focused on educating CFP® professionals, firms, and the public on the new Code of Ethics and Standards of Conduct, which became effective October 1, 2019 and will be enforced beginning June 30, 2020.

Registration is now open for the Public Forums to be held in Denver, Phoenix, San Diego and Las Vegas on December 3-5, 2019.

These events feature:

  • A presentation on the new Code and Standards by a member of CFP Board’s Standards Resource Commission and CFP Board's General Counsel
  • Time for dialogue and questions about the new Code and Standards
  • The opportunity to provide input on the kinds of resources that CFP® professionals and firms would find helpful in their understanding, adoption and compliance with the new Code and Standards
  • Complimentary continental breakfast or refreshments

For those who haven’t been able to attend one of the 25 Public Forums held around the country between September 2018 and December 2019, a recorded Public Forum webinar is available. Learn more >

Fall Flight of Public Awareness Campaign Advertising Continues through Nov. 15

CFP Board’s Public Awareness Campaign advertising is back on public radio from September 30 through November 15, supplemented through digital vehicles, as well as ongoing social media and earned media efforts. The ads encourage the public to visit www.LetsMakeaPlan.org to learn about the competency and credibility of CFP® professionals, and to identify a CFP® professional through our online search tool. This year’s campaign will reach a national audience and generate over a billion impressions.

Your clients and potential clients around the country will be seeing the ads, and we want your clients and prospective clients to connect you with the great messages they’re seeing in the campaign advertising. To help you do that, we’ve developed a number of resources you can use to help extend the campaign’s reach in your communities. Visit www.CFP.net/PAC to access resources including:

  • Links to TV ads on CFP Board’s YouTube channel, where you can find options for sharing and embedding the videos
  • Banner ads for use on personal websites
  • Print ad PDFs
  • Sample social media posts
  • Customizable radio announcements
  • Links to consumer brochures you can share with clients and potential clients

CFP® Examination Update

Registration for the November 5-12, 2019 CFP® exam testing window closed on October 22, 2019.

The first exam administration of 2020 will take place March 10-17, 2019, and early registration will open on November 14, 2019. Please encourage your qualified colleagues to continue their pursuit of CFP® certification, and remind them to register for the CFP® exam early for the best date and site availability. Learn more and register at www.CFP.net/exam.

Resources for Colleagues on the Path to CFP® Certification

Growth in the number of CFP® professionals strengthens the profession and the certification. Share these resources to help a colleague along the path to CFP® certification.CFP Exam Candidate Preparation Toolkit

  • Share our Why CFP® Certification guide that outlines the reasons pursuing CFP® certification is a great career move.
  • Share the CFP® Exam Candidate Preparation Toolkit, which helps candidates develop study strategies, manage time and build support from employers and peers as they prepare for the CFP® Exam.
  • Share this video of CFP® professionals discussing the different pathways they took to gain the professional experience required for CFP® certification.
  • Refer your colleagues to CFP Board so we can introduce them to CFP® certification on your behalf.

New Research: Americans Working with a Financial Advisor are More Prepared for a Recession

A recent Morning Consult survey commissioned by CFP Board found that 55 percent of adults believe a recession will occur in the next year but those who have enlisted the help of a financial advisor, and have a written financial plan, feel more confident that they can weather an economic storm. Nearly two-thirds (65 percent) of adults working with a financial advisor said they feel more prepared now for a potential recession than they did in 2008. When looking specifically at those who work with a CFP® professional, 73 percent of respondents said they feel more prepared now than they did in 2008. Learn more >

  CFP Board Center for Financial Planning  
  Updates from the Center for Financial Planning:
  • Diversity Summit in Washington, DC, November 13: The Center is looking forward to its second Diversity Summit, a must-attend conference with a singular mission: advancing diversity and inclusion in our profession. The 2019 Diversity Summit builds upon the success of last year’s inaugural Diversity Summit, featured in this video.
    This year’s Diversity Summit convenes with a focus on Accountability – highlighting the leadership of firms, academic institutions and partner organizations to create a more diverse profession – through case studies and best practices. The agenda will also include the release of a new report showcasing why a diverse workforce is important for both the financial planning profession and financial planning firms. The speaker lineup can be found here.
    2018 Diversity SummitThe Center invites thought leaders within and outside the profession to register for the Diversity Summit. We are seeking participation from firm executives, leaders and students from CFP Board Registered Programs, experts in diversity and inclusion, influencers at key organizations that can reach diverse populations and financial planning practitioners and students. We encourage you to register early for this thought-provoking event since we are expecting another high turnout this year. Learn more and register >
  • Practitioner-focused Sessions at 2020 Academic Research Colloquium: The fourth annual Colloquium, to be held February 20-22, 2002 in Arlington, VA, is convening leading scholars and researchers to showcase the latest research within financial planning and related disciplines. The 2020 Colloquium will once again feature several sessions designed specifically for practicing CFP® professionals, eligible for CE credit. These sessions will explore the implications of research on financial planning practice, and will be led by an illustrious team of Scholar-Practitioners who have extensive financial planning practice experience and can apply that to relevant, impactful research. CE credits for these select sessions will be administered by the Financial Planning Association. Click here to register and reserve a discounted hotel room. Click here to register and reserve a discounted hotel room.
  • Career Path Guide Presentation at FPA Conference: A session at the 2019 FPA Annual Conference on Financial Planning Career Paths: Building More Sustainable and Successful Businesses, presented by Mark Tibergien, CEO of Pershing Advisor Solutions and Chair of the Center’s Workforce Development Advisory Group, stressed the importance of developing well-defined financial planning career paths to onboarding and retaining the next generation of financial planners. An attendee shared that her firm implemented the career path guide within her firm as the content provides the basis for goal setting, performance evaluations and promotion decisions. Growing demand for the Guide is demonstrating that this is a must-use strategic tool for firms seeking to attract a talented and diverse workforce and build sustainable and successful businesses.
  • Firms Now Accepting Re-entry Interns: The Center, in partnership with career re-entry firm iRelaunch, has launched a 2019 offering of the Financial Planner Re-Entry Initiative (FPRI) that connects firms in the financial planning sector with experienced professionals seeking to reenter the workforce after a career break. Firms are currently seeking candidates for the following open positions:
      Additional positions will be posted on the FPRI webpage as they become available.
  • Applications for the Milton Stern Scholars Fund Accepted through November 27: The Center is now accepting applications for the nationwide Milton Stern Scholars Fund scholarship, which provides financial awards for students enrolled in a CFP Board-Registered Certificate Program. The application deadline is November 27, 2019. Learn more >
  • Advance the Profession by Supporting the Center: We encourage you to consider making a contribution to the Center for Financial Planning. Your donation to the Center supports important work to create a more diverse and sustainable financial planner workforce and build a research-based, recognized body of knowledge for the financial planning profession. Support the Center >

Upcoming Events


  • Volunteer Opportunities with CFP Board: The work of CFP Board benefits greatly from the contributions of CFP® professionals and other stakeholders, and there are many opportunities for CFP® professionals and others to become involved with CFP Board in meaningful and rewarding ways. Each year, there are multiple opportunities to contribute to the development of the CFP® Exam through exam item writing workshops, and to support enforcement of the ethics and practice standards for CFP® professionals through service as a hearing panel volunteer with the Disciplinary and Ethics Commission. Learn more about these and other opportunities and submit a volunteer application at www.CFP.net/volunteers.
  • Become a Mentor to Individuals Pursuing CFP® Certification: The CFP Board Mentor Program is designed to connect individuals pursuing CFP® certification with current CFP® professionals for guidance and support as they navigate their path to certification. CFP® professionals serving as mentors share guidance and practical advice based on their experience taking the CFP® exam and pursuing careers in the financial planning profession. Learn More and Enroll in the Mentor Program >
  • Report Your Pro Bono Hours: Thousands of CFP® professionals across the country are providing free, no-strings attached, one-on-one financial advice to underserved people. Are you one of them? Please let us know if you provide pro bono services so that we can educate the public and policymakers about the great things our profession does to help people in need. Report your pro bono hours today through an online tool available within the “My CFP® Certification” section of CFP® professionals’ online accounts.

Display the CFP® Marks with Pride

CFP Board offers a range of products – including mugs, notebooks, pins, bags, apparel, and more – branded with the CFP® mark for you to display your certification with pride. Take a look at our NEW online store! Recent additions include an Apple Watch band, sunglass case and water bottle, so make sure to keep checking in for new products!

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