CFP Board Promotes Public Trust With 14 Actions

Certified Financial Planner Board of Standards, Inc. (CFP Board), a nonprofit organization with more than 109,000 CFP® professionals, today announced actions taken to uphold its ethical standards, imposing sanctions on fourteen individuals.

CFP Board is a professional body that has adopted a Code of Ethics and Standards of Conduct (Code and Standards) that benefits and protects the public and advances financial planning as a distinct and valuable profession. The CERTIFIED FINANCIAL PLANNER® certification is the standard for financial planning. The Code and Standards requires that a CFP® professional meet certain duties when providing professional services to a client, and refrain from engaging in other misconduct that reflects adversely on their integrity or fitness as a certificant, on the CFP Board certification marks or on the profession. CFP® professionals make a commitment to CFP Board to abide by the Code and Standards, and their compliance reinforces the integrity of the CFP Board certification marks. CFP Board does not guarantee a CFP® professional’s services, but it may sanction a CFP® professional who fails to uphold their commitment.

CFP Board’s Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement (“Fitness Standards”) sets the standards against which CFP Board evaluates the ethical fitness of those seeking CFP® certification. In some circumstances, CFP Board may determine an applicant is currently fit for CFP® certification and issue a public notice of their prior misconduct.

Information about how CFP Board addresses ethical issues involving CFP® professionals and those pursuing CFP® certification is available at CFP.net/enforcement.

At CFP.net/verify, the public can verify an individual’s CFP® certification status. CFP Board 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, such as the Financial Industry Regulatory Authority’s (FINRA’s) BrokerCheck and the U.S. Securities and Exchange Commission’s (SEC’s) Investment Adviser Public Disclosure databases for individuals who are subject to FINRA or SEC oversight. CFP Board is not a federal, state or self-regulatory organization, and it does not sanction financial services firms.

The Public Sanctions on 14 Individuals

Suspension

Colorado

Stuart E. Wells (Grand Junction, Colorado): In June 2026, counsel to the Disciplinary and Ethics Commission issued an order imposing an automatic interim suspension of Mr. Wells’s CFP® certification and right to use the CFP Board certification marks citing contempt orders entered against Mr. Wells by two Kansas state courts where he was named as a defendant. In March 2025, a court in Geary County entered a civil contempt order against Mr. Wells based, in part, on false testimony he provided about his role in preparing a client’s letter to her bank. The court found that Mr. Wells’s testimony denying any involvement in preparing the letter was not truthful, and that it contradicted the client who testified that Mr. Wells had in fact prepared the letter, had her sign it, and mailed it to the bank. In June 2025, a Saline County court also held Mr. Wells in contempt, finding that he had submitted “fake” legal citations. The June 2026 order suspending Mr. Wells’s CFP® certification explains that because both civil contempt orders contain findings that Mr. Wells engaged in a misrepresentation or other dishonest conduct, each provides grounds for his interim suspension under CFP Board’s Procedural Rules. Mr. Wells’s suspension, effective on June 12, 2026, will remain in place pending further disciplinary proceedings. Read the order: Case History 45677.

Illinois

Robert F. Sieja (Wilmette, Illinois): In June 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an order suspending Mr. Sieja’s CFP® certification and right to use the CFP Board certification marks after he failed to respond to CFP Board’s requests for information about an outstanding federal tax lien imposed on his property. Because Mr. Sieja failed to respond to CFP Board’s investigation, he was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Sieja’s conduct, CFP Board enforcement counsel filed a motion seeking an administrative order of suspension, which counsel to the Commission granted on June 18, 2026. The order was effective July 18, 2026. Read the order: Case History 48669.

Oregon

Jason Kirsch (Portland, Oregon): In December 2025, CFP Board’s Appeals Commission affirmed an April 2025 order from the Disciplinary and Ethics Commission (Commission) suspending Mr. Kirsch’s CFP®certification and right to use the CFP Board certification marks for a year and a day based on Mr. Kirsch’s June 2024 Chapter 7 bankruptcy filing. In a complaint filed against Mr. Kirsch in July 2024, CFP Board alleged that his bankruptcy filing violated Standard E.2.c of CFP Board’s Code and Standards, which prohibits a CFP® professional from engaging in conduct that reflects adversely on their integrity or fitness as a CFP® professional, on the CFP® marks or on the profession. Mr. Kirsch, who disclosed his bankruptcy filing to CFP Board the same month it was filed, denied that the filing demonstrated an inability to manage his financial affairs responsibly, pointing to the COVID-19 pandemic and other factors he says were outside of his control. The Commission disagreed, citing Mr. Kirsch’s accumulation of debt starting years earlier and his investments in speculative ventures despite having inadequate savings or cash flow. Mr. Kirsch’s suspension is effective from December 8, 2025, through December 8, 2026. Read the Commission’s order: Case History 46810.

Temporary Bar

Arizona

Ted A. Beer (Scottsdale, Arizona): In June 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an order temporarily barring Mr. Beer from CFP® certification for failing to respond to CFP Board’s requests for information about Mr. Beer’s separation from his firm. The order cites Mr. Beer’s alleged violation of firm policies and procedures concerning two clients seeking assignment to a different advisor. Because Mr. Beer did not respond to CFP Board’s investigation, he was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Beer’s conduct, CFP Board enforcement counsel filed a motion seeking an administrative order barring Mr. Beer from applying for CFP® certification until he is deemed eligible under Article 4.6 of the Procedural Rules. Counsel to the Commission granted the motion on June 18, 2026. The order was effective on July 18, 2026. Read the order: Case History 48676.

Nevada

Marcia L. Riner (Las Vegas, Nevada): In June 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an order temporarily barring Ms. Riner from CFP® certification after Ms. Riner indicated that she would not participate in an investigation by CFP Board into her November 2024 Chapter 7 bankruptcy filing. By declining to participate in the investigation, Ms. Riner was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Ms. Riner’s conduct, CFP Board enforcement counsel filed a motion seeking an administrative order barring her from applying for CFP® certification until she is deemed eligible under Article 4.6 of the Procedural Rules. Counsel to the Commission granted the motion on June 18, 2026. The order was effective on July 18, 2026. Read the order: Case History 48513.

New Jersey

James Migliore (Belmar, New Jersey): In June 2026, the Disciplinary and Ethics Commission (Commission) issued an order denying Mr. Migliore’s petition for a determination that he is fit for CFP® certification and barring him from applying for certification for one year. Mr. Migliore was required to petition the Commission after disclosing two misdemeanor DUI convictions (2004 and 2014) and a 2010 bankruptcy filing. The Commission found that although the bankruptcy occurred many years ago, Mr. Migliore needed more time to demonstrate that he can manage his financial affairs responsibly. Mr. Migliore’s temporary bar is effective from July 1, 2026 to July 1, 2027. Read the Commission’s order: Case History 47979.

Revocation

Kentucky

Devon DeVon Freeman (Louisville, Kentucky): In March 2026, CFP Board’s Appeals Commission affirmed a November 2025 administrative order issued by counsel to the Disciplinary and Ethics Commission (Commission) permanently revoking Mr. Freeman’s CFP® certification after he failed to answer a complaint alleging violations of CFP Board’s Code and Standards. The complaint, filed February 24, 2025, cites a January 2025 Letter of Acceptance, Waiver, and Consent (AWC) Mr. Freeman entered with the Financial Industry Regulatory Authority, Inc. (FINRA) in which he consented to a $10,000 fine and 8-month suspension for forging client signatures on variable insurance applications and other documents, and backdating one application. The AWC states that Mr. Freeman also used his personal cell phone to improperly exchange text messages with customers about securities business. Mr. Freeman was permitted to resign from his firm in February 2023, and the Kentucky Department of Insurance issued an order of revocation against Mr. Freeman in June 2023 after he failed to respond to its inquiries. Because Mr. Freeman failed to file an answer to the complaint against him, he was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Freeman’s conduct, enforcement counsel filed a motion seeking an administrative order permanently revoking Mr. Freeman’s CFP® certification, which counsel to the Commission granted on November 11, 2025. The order was effective on March 23, 2026. Read the order: Case History 47660.

Maryland

Christopher J. Asher (Davidsonville, Maryland): In May 2026, the Disciplinary and Ethics Commission (Commission) issued an order finding Mr. Asher ineligible for the reinstatement of his CFP® certification following his suspension in August 2022 for conduct resulting in felony criminal charges against him. The order revokes Mr. Asher’s right to use the CFP® certification marks and permanently bars him from obtaining CFP® certification. In determining that Mr. Asher had not proven his fitness for reinstatement, the Commission pointed to Mr. Asher’s May 2024 bankruptcy filing as demonstrating his inability to manage his financial affairs. The Commission’s order also cites CFP Board’s Fitness Standards, which do not permit the certification of any applicant who has engaged in the type of conduct that resulted in Mr. Asher’s felony criminal conviction. Mr. Asher’s revocation and permanent bar were effective June 1, 2026. Read the Commission’s order: Case History 48188.

Massachusetts

Cynthia M. Bremer (Gloucester, Massachusetts): In June 2026, the Disciplinary and Ethics Commission (Commission) issued an order revoking Ms. Bremer’s CFP® certification for placing more than $6 million in unauthorized trades over a period of 15 months. The Financial Industry Regulatory Authority, Inc. (FINRA) issued Ms. Bremer a Cautionary Action Letter in March 2023 stating that she had violated FINRA Rules by executing 162 transactions in 59 clients’ non-discretionary accounts without obtaining prior authorization. Ms. Bremer settled an arbitration complaint filed by one former client alleging a $40,000 loss from an unauthorized transaction Ms. Bremer placed. Ms. Bremer told CFP Board that she began placing trades to sell her clients’ mutual fund shares in early 2020 to protect them from volatility in the securities markets brought on by the COVID-19 pandemic. By the time Ms. Bremer re-established positions for her clients, the order states, mutual fund prices had already recovered following government action. The Commission found that by engaging in unauthorized trading, Ms. Bremer breached her fiduciary duty as a CFP® professional to act in the best interests of her clients when providing financial advice, in violation of Standard A.1 of CFP Board’s Code and Standards. By failing to communicate with her clients until long after trades were made, the order states, Ms. Bremer also failed to provide professional services in a timely and thorough manner, as required by Standard A.4. The Commission also found that Ms. Bremer’s violation of FINRA Rules violated CFP Board rules requiring that a CFP® professional comply with the laws, rules and regulations governing professional services. Ms. Bremer’s revocation was effective July 2, 2026. Read the Commission’s order: Case History 43947.

New York

David William Weigel (New York, New York): In May 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an administrative order revoking Mr. Weigel’s CFP® certification after he failed to file an answer to CFP Board’s complaint against him as required under CFP Board’s Procedural Rules. The complaint alleges several violations of CFP Board’s Code and Standards, according to the order, including violations arising out of Mr. Weigel’s 2023 bankruptcy filing and his pattern of unprofessional, abusive and profane social media activity. In some of his online posts, the order states, Mr. Weigel sought to bolster his credibility by citing his CFP® certification. Because Mr. Weigel failed to file an answer in compliance with CFP Board’s Procedural Rules and as directed by counsel to the Commission, he was in default under Articles 4.1.e and 4.1.h. Based on its determination of the seriousness, scope and harmfulness of Mr. Weigel’s conduct, enforcement counsel filed a motion for an administrative order revoking his CFP® certification, which counsel for the Commission granted on May 21, 2026. The order was effective June 20, 2026. Read the Commission’s order: Case History 46644.

Permanent Bar

Illinois

Yonglin Ren (Lincolnshire, Illinois): In June 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an administrative order permanently barring Mr. Ren from obtaining CFP® certification after he failed to respond to a complaint CFP Board filed against him in November 2025. The complaint asserts that Mr. Ren violated CFP Board’s Code and Standards and its Rules of Conduct, citing a Letter of Acceptance, Waiver and Consent (AWC) he entered with the Financial Industry Regulatory Authority, Inc. (FINRA), in which he consented to a 30-day suspension and $5,000 fine for failing to preserve required business communications and misrepresenting his actions to his firm in violation of FINRA rules. CFP Board’s complaint also alleges that Mr. Ren made misleading statements to CFP Board enforcement counsel and failed to timely report to CFP Board his employment termination and a separate regulatory action against him by Maryland securities regulators. Because Mr. Ren did not file an answer to CFP Board’s complaint, he was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Ren’s conduct, CFP Board enforcement counsel filed a motion seeking an administrative order permanently barring Mr. Ren from CFP® certification, which counsel to the Commission granted on June 18, 2026. The order was effective July 18, 2026. Read the Commission’s order: Case History 43759.

Kentucky

Brent E. Ditto (Elizabethtown, Kentucky): In May 2026, counsel to CFP Board’s Disciplinary and Ethics Commission (Commission) issued an order permanently barring Mr. Ditto from CFP® certification after he failed to respond to a complaint filed against him by CFP Board in October 2025. The complaint alleges that, in August 2025, Mr. Ditto entered into an Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority, Inc. (FINRA), agreeing to a four-month suspension, a $5,000 fine, and disgorgement of $402.58 plus interest. The AWC states that Mr. Ditto violated Regulation Best Interest under the Securities Exchange Act of 1934 and FINRA Rule 2010 when he recommended an unsuitable mortgage-backed bond to a 95-year-old client needing available funds for assisted living expenses. The client incurred approximately $19,000 in losses. CFP Board’s complaint asserts that Mr. Ditto violated Standard A.8.a of its Code and Standards, requiring a CFP® professional to comply with the laws, rules, and regulations governing professional services, and breached his fiduciary duty under Standard A.1, which requires a CFP® professional to act in the best interests of the client at all times when providing financial advice. Because Mr. Ditto did not file an answer to CFP Board’s complaint, he was in default under CFP Board’s Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Ditto’s conduct, CFP Board enforcement counsel filed a motion for an administrative order revoking his CFP® certification, which counsel for the Commission granted on May 5, 2026. Mr. Ditto was permanently barred from CFP® certification effective June 4, 2026. Read the order: Case History 45790.

New Jersey

Eric B. Kleiner (Tenafly, New Jersey): In May 2026, counsel to CFP Board’s Disciplinary and Ethics Commission (Commission) issued an order permanently barring Mr. Kleiner from CFP® certification after he stated that he would no longer participate in CFP Board’s investigation into a series of customer arbitrations filed against him and his March 2025 termination from his firm. According to the order, Mr. Kleiner’s clients asserted claims alleging that he had recommended investments that were unauthorized by his firm and outside of the clients’ investment strategies. By choosing not to participate further in CFP Board’s investigation, Mr. Kleiner was in default under its Procedural Rules. Based on its determination of the seriousness, scope, and harmfulness of Mr. Kleiner’s conduct, CFP Board enforcement counsel filed a motion for an administrative order permanently barring Mr. Kleiner from CFP® certification, which counsel to the Commission granted on May 28, 2026. The order was effective June 29, 2026. Read the order: Case History 48239.

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Public Notice

Texas

Edgardo Rey (Austin, Texas): In June 2026, counsel to the Disciplinary and Ethics Commission (Commission) issued an order granting Mr. Rey’s petition for a determination that he is fit for CFP® certification with a public notice after he disclosed in his application that he filed for bankruptcy in February 2019. Mr. Rey and CFP Board enforcement counsel filed his petition as a joint motion stating that Mr. Rey had provided information sufficient for enforcement counsel to find no probable cause to believe Mr. Rey’s current financial circumstances demonstrate an inability to manage his financial affairs responsibly. Read the Commission’s order: Case History 48405.