Be careful what you ask for!

[DHK]

CFP Board opposes state regulation of financial planning process

CFP Board opposes state regulation of financial planning process
'Interstate profession' should be overseen at federal level, chairman says

The Certified Financial Planner Board of Standards Inc. announced Monday that it opposes state regulation of planners.

The organization is staking out its position to try to preempt potential bills from percolating in statehouses as most legislatures come back into session early next year.

Although some states recently approved bills to reform credentialing that could put new restrictions on using the CFP mark, there is no specific legislation to regulate the process of financial planning — and CFP Board wants to keep it that way.

"Financial planning" is a service provided by investment product, investment services reps, and insurance agents. These professions already have regulators.

Now they want "financial planning" to be regulated... but not by the states?? Well, that HAS been the goal of the CFP Board for a long time. That's why they moved their HQ to Washington D.C. a number of years ago. They want to become an SRO.

They are already the voluntary regulator of all CFP holders, but, of course, that's not enough for them.

 

[DHK]

They really want to control EVERYTHING you do now, don't they?



And of course, if you don't comply to their standards... they'll publicly shame you for it.
Right To Use CFP Mark Revoked For Leader Of International Association Of Registered Financial Consultants, Edwin Morrow; CFB Board Acts On Complaint Against The Man Behind The RFC Designation