CFP Board Imposes an Interim Suspension on Andrew D. Slocum of Snowmass Village, Colorado
Certified Financial Planner Board of Standards, Inc. (CFP Board) announced that it has imposed an interim suspension of the CFP® certification against Andrew D. Slocum, which was effective as of January 19, 2021.
On January 19, 2021, CFP Board issued an automatic interim suspension order suspending Andrew D. Slocum’s right to use the CFP® certification marks. CFP Board imposed an automatic interim suspension after receiving evidence that Mr. Slocum was permanently barred by Financial Industry Regulatory Authority, Inc. (FINRA) from association with any FINRA member in any capacities on August 24, 2020, wherein FINRA made findings that Mr. Slocum: (1) failed to respond to FINRA’s May 21, 2020 and June 15, 2020 requests for the production of information and documents. FINRA determined that Mr. Slocum’s failure to respond to FINRA’s requests warranted a permanent bar under FINRA Rule 9552(h). Under the Automatic Interim Suspension Order, Mr. Slocum’s right to use the CFP® certification marks is suspended pending CFP Board’s completed investigation and possible further disciplinary proceedings.
An interim suspension is a suspension of a CFP® professional’s Certification and Trademark License during the pendency of proceedings. A Respondent subject to an Interim Suspension Order must not use the CFP® certification marks or state or suggest that Respondent is a CFP® professional while the Interim Suspension Order is in effect. An Interim Suspension Order is a temporary sanction and does not preclude CFP Board from imposing a final sanction. An Interim Suspension Order will remain in place until the DEC or, if an appeal is filed, the Appeals Committee, issues a final order.
The basis for this decision also may be found on CFP Board’s website at https://www.cfp.net/verify-a-cfp-professional. At that website, the public may check on any individual’s CFP Board disciplinary history and CFP® certification status. The website also provides links to other sources of information about CFP® professionals that may be more recent or that may contain information that has not led to CFP Board discipline and does not appear on CFP Board’s website. That information may include customer disputes, disciplinary actions taken by a regulator or employer, certain criminal matters, and certain financial matters (such as bankruptcy proceedings and unpaid judgments or liens). For those who are subject to Financial Industry Regulatory Authority (FINRA) or U.S. Securities and Enforcement Commission (SEC) oversight, the website includes links to FINRA’s BrokerCheck and the SEC’s Investment Adviser Public Disclosure databases.
CFP Board’s enforcement process is a critical consumer protection. As part of their certification, CFP® professionals agree to abide by CFP Board’s Code of Ethics and Standards of Conduct. CFP Board enforces its ethical standards by investigating alleged violations and, where there is probable cause to believe there are grounds for sanction, presenting a Complaint containing the alleged violations to the Commission pursuant to CFP Board’s Procedural Rules. If the Commission determines there are grounds for sanction, then it may impose a sanction ranging from a private censure to public censure to the suspension or revocation of the right to use the CFP® marks. CFP Board’s Procedural Rules set forth the process for investigating matters and imposing a sanction where violations have been found.
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 and consumer groups as the standard for financial planning, CFP® certification is held by more than 90,000 people in the United States.
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