CFP Board is Out of Control! CFP Board Takes Action Against 23 Advisors | IAG Breaking News Alleging an array of unethical practices, the CFP Board has censured almost two dozen advisors across the country, permanently revoking the CFP marks for three of them. Another 13 were suspended and seven were publicly admonished for technical infractions. The three advisors whose designations were revoked are as follows; none of the three returned phone calls seeking comment. Joseph M. Browne with Summit Wealth Partners in Jacksonville Beach, Fla. Browne misrepresented his compensation method on the CFP Board's "Find a CFP Professional" search tool, the CFP Board said. According to FINRA Broker Check records, Browne had one customer dispute filed against him regarding fee disclosure, which he settled for $10,500 in September 2000. [1. "Compensation method on its site caused a permanent revokation??? 2. It took the CFP Board 15 years to figure out this FINRA disclosure?] Michael T. Sullivan with First Allied Securities in Mooresville, N.C. Sullivan's CFP designation was stripped for a number of actions, the organization said, including recommending and selling annuities that were unsuitable. Sullivan, last based in Mooresville, N.C., did not return a call for comment. [Here we go again.] Michael A. Zolondek, who last was employed by Princor Financial Services in Mauston, Wis. According to the CFP, Zolondek was permanently barred by FINRA helping approximately 300 Farmers Financial Solutions employees cheat on Life Underwriter Training Course exams, among several other infractions. [Okay... that's just funny. LUTCF courses are NOT that hard... so his CFP is revoked because he helped 300 people cheat on their designation exam? It also says something about the quality of the employees that Farmer's hired.] The suspensions look worse than the revokations. I suppose if you look at the CFP board in the wrong way, they'll revoke your designation for that too. Ugh!