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Re: CFP Board is Out of Control
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Thoughtful comment there...you win!
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Thoughtful comment there...you win!
CFP Board
- Thread starter DHK
- Start date
- Thread starter
- #12
- 11,453
Re: CFP Board is Out of Control
A revokation is a disciplinary action, regardless of the compliant or inquiry.
I don't know what you're referring to, unless you're talking about the September 2000 complaint against that one advisor. Heck, most firms only ask about the past 10 years... but to go back 15 to find something and then penalize you TODAY for it... is just stupid in my opinion.
Uh... we must not be looking at the same announcement.
- He failed to file for federal income tax returns or pay income taxes for a 10-year period from 2000 to 2009 (suspended but not revoked... but revoking because someone listed their compensation incorrectly on their "search for a CFP" site?)
- misled clients into transferring their accounts to a new broker-dealer by sending letters indicating that the reason for them to sign the enclosed forms was purely administrative, according to the CFP Board. (Well, it IS administrative - for the purpose of transferring accounts to the new B/D)
- misappropriating funds and submitting false records to his member firm regarding reimbursement claims for personal expenses during a five-year time period. (Suspended, but not revoked?)
Need I go on? I think there's a couple there for falsifying signatures too.
Perception is reality... unless it's a virtual reality.
Yes, the EDUCATION is important. The marks themselves? eh.
In my opinion, I think the cheating on designation certifications should've been dealt with internally within that firm and The American College. I suppose the firm felt they had to disclose it to FINRA.
But when I look at Ed Morrow, a pioneer in this industry, and how HE was treated by the CFP for a matter that did not involve the public... you can tell that the CFP board wants to publicize any reason they can their decisions to "suspend or revoke" their precious certification.
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
A revokation is a disciplinary action, regardless of the compliant or inquiry.
I don't know what you're referring to, unless you're talking about the September 2000 complaint against that one advisor. Heck, most firms only ask about the past 10 years... but to go back 15 to find something and then penalize you TODAY for it... is just stupid in my opinion.
Uh... we must not be looking at the same announcement.
- He failed to file for federal income tax returns or pay income taxes for a 10-year period from 2000 to 2009 (suspended but not revoked... but revoking because someone listed their compensation incorrectly on their "search for a CFP" site?)
- misled clients into transferring their accounts to a new broker-dealer by sending letters indicating that the reason for them to sign the enclosed forms was purely administrative, according to the CFP Board. (Well, it IS administrative - for the purpose of transferring accounts to the new B/D)
- misappropriating funds and submitting false records to his member firm regarding reimbursement claims for personal expenses during a five-year time period. (Suspended, but not revoked?)
Need I go on? I think there's a couple there for falsifying signatures too.
Perception is reality... unless it's a virtual reality.
Yes, the EDUCATION is important. The marks themselves? eh.
In my opinion, I think the cheating on designation certifications should've been dealt with internally within that firm and The American College. I suppose the firm felt they had to disclose it to FINRA.
But when I look at Ed Morrow, a pioneer in this industry, and how HE was treated by the CFP for a matter that did not involve the public... you can tell that the CFP board wants to publicize any reason they can their decisions to "suspend or revoke" their precious certification.
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
- 285
Re: CFP Board is Out of Control
I thought you meant the overreach was worse. You notice I said they all looked pretty egregious.
The year was not mentioned in the announcement regarding Mr. Browne so I'm not sure how it appeared in the article you posted .
About perception, it's marketing, and I find it worthwhile. You don't, c'est la vie.
We were looking at the same announcement. I misunderstood what you meant by "looks worse".
I thought you meant the overreach was worse. You notice I said they all looked pretty egregious.
The year was not mentioned in the announcement regarding Mr. Browne so I'm not sure how it appeared in the article you posted .
About perception, it's marketing, and I find it worthwhile. You don't, c'est la vie.
Re: CFP Board is Out of Control
Guess what 65% of the top 400 producers have in common? They don't think it's worth it.
Guess what 65% of the top 400 producers have in common? They don't think it's worth it.
- 285
Re: CFP Board is Out of Control
I can see you have learned simple math...very good!!
Now you only need to work on reading comprehension. You see the FT statistic was in reference to the comment "can't f'ing produce" . Keep at it you'll get there.
I can see you have learned simple math...very good!!
Now you only need to work on reading comprehension. You see the FT statistic was in reference to the comment "can't f'ing produce" . Keep at it you'll get there.
Re: CFP Board is Out of Control
You say I have a comprehension problem? I don't care what your comment was in reference to. I was responding to your comment and made my point clear.
You can justify what you want, but I'm in a somewhat similar position as CFP83. I took the classes and the test early in my career (before my 3 years experience). Once I had the experience requirement, I realized that it doesn't mean anything to 99.9% of the people and isn't worth the hassle to use the marks.
I can see you have learned simple math...very good!!
Now you only need to work on reading comprehension. You see the FT statistic was in reference to the comment "can't f'ing produce" . Keep at it you'll get there.
You say I have a comprehension problem? I don't care what your comment was in reference to. I was responding to your comment and made my point clear.
You can justify what you want, but I'm in a somewhat similar position as CFP83. I took the classes and the test early in my career (before my 3 years experience). Once I had the experience requirement, I realized that it doesn't mean anything to 99.9% of the people and isn't worth the hassle to use the marks.
- 15,041
Re: CFP Board is Out of Control
You really seem to have an issue with the CFP. Is not doing for your career what you expected?
I can see you have learned simple math...very good!!
Now you only need to work on reading comprehension. You see the FT statistic was in reference to the comment "can't f'ing produce" . Keep at it you'll get there.
You really seem to have an issue with the CFP. Is not doing for your career what you expected?
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Re: CFP Board is Out of Control
What do you think I'm trying to justify? That I think the marketing is worthwhile ? I plead guilty. You clearly don't think so. C'est la vie. My guess is SC and CT are different markets.
Vol, as you have made clear you don't care what people think of you. It shows.
What do you think I'm trying to justify? That I think the marketing is worthwhile ? I plead guilty. You clearly don't think so. C'est la vie. My guess is SC and CT are different markets.
Vol, as you have made clear you don't care what people think of you. It shows.
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- Thread starter
- #19
- 11,453
Re: CFP Board is Out of Control
Personally, I don't like the CFP... but I'm not against quality education and designations. That's why I'm a ChFC holder.
I believe most people think that you know what you're doing... until you prove that you don't. Then they care about not being 'burned' by poor advice. Clients may not care or know... so I like telling them a little bit about the credential, when appropriate.
As far as "marketing"... CFP board has more money, so they market their credential... but they don't market individual advisors. The CFP is just a certification mark... although they will convince you that it's a license. So the CFP certificate holder gets to say that they are a CFP.
The ChFC just recently started charging a bi-annual renewal fee of $250... as an effort to compete (I suppose). But it's MY job to market ME... not The American College or the CFP board.
I can nearly guarantee you that all those "top producers" that have CFP's... that they aren't getting their leads from the CFP website. Also, if they decided to drop their certification, their business wouldn't miss a beat, or they'd just pick up another credential - such as ChFC or RFC.
Personally, I don't like the CFP... but I'm not against quality education and designations. That's why I'm a ChFC holder.
I believe most people think that you know what you're doing... until you prove that you don't. Then they care about not being 'burned' by poor advice. Clients may not care or know... so I like telling them a little bit about the credential, when appropriate.
As far as "marketing"... CFP board has more money, so they market their credential... but they don't market individual advisors. The CFP is just a certification mark... although they will convince you that it's a license. So the CFP certificate holder gets to say that they are a CFP.
The ChFC just recently started charging a bi-annual renewal fee of $250... as an effort to compete (I suppose). But it's MY job to market ME... not The American College or the CFP board.
I can nearly guarantee you that all those "top producers" that have CFP's... that they aren't getting their leads from the CFP website. Also, if they decided to drop their certification, their business wouldn't miss a beat, or they'd just pick up another credential - such as ChFC or RFC.
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Re: CFP Board is Out of Control
DHK, little to disagree about there.
Do you pay the new dues? If so why?
DHK, little to disagree about there.
Do you pay the new dues? If so why?
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