The once underrespected CFP gets a lift after Merrill Lynch and now NAPFA make it central for newbies
Still, CFP certificants shoot down the idea of making the CEO credits requirements even harder, and fiduciary concerns linger
Stephen Winks
Business model neutrality is not conducive to fiduciary standing. The CFP constituency is so diverse as to not lend itself to a high standard that would alienate its membership. There is no equivalency between a suitability standard and a fiduciary standard just as there is no equivalency between a broker and an advisor. It is like saying an accountant is equivalent to a CPA.
Fiduciary standing essentially renders all designations obsolete, as any unique intellectual capital on trust or estate planning or portfolio construction, or work flow management or conflict m,anagement are inherent in best practices.
SCW
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The CFP Board's RIA faction sees the 100,000-member mark looming and hits back at brokerwashing; Dan Moisand is tasked with forming new division largely aimed at abusive brokers and other charlatans
Moisand, an RIA owner who has been named the new board chairman, will seek to quell an RIA uprising without losing a giant revenue source -- FINRA brokers who come with implicit 'suitability' issues
March 7, 2023 at 12:24 AM
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National Association of Personal Finance Advisors
Association
Top Executive: Geof Brown, CAE
Financial Planning Association
Association
Top Executive: Lauren S. Schadle, CAE, Executive Director and CEO
