CERTIFIED FINANCIAL PLANNER professionals may become certified to use the CFP Marks in more than one territory by obtaining CFP certification from the FPSB Member in the new territory. Those Individuals must abide by the certification renewal requirements of FPSB Members in both the home and new territories. Use the form below to determine what the across-border certification requirements are in your territory:
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In the ongoing debate for the fiduciary standard in the United States, supporters of fiduciary have suggested that everyone in financial services should be subject to the standard, while those opposing have responded that consumers deserve a choice between fiduciary and suitability; in essence, they simply suggest that we should let consumers choose whatever method of financial services they prefer, and may the best model win.
If you spend any time looking at financial legislation in the US, it’s no secret to you that financial abuses beget market disruptions, and market disruptions beget new laws. Regulation of IPOs began in 1933 after the Great Depression. Regulation of the exchanges followed a year later. Insiders made enormous profits in the 80s; their activities were outlawed in 1987.
And the subprime crisis erupted in 2007-2009; we now have the Dodd-Frank Wall Street Reform and Consumer Protection Act. I began reading a summary of the law on Wikipedia; but, only being fluent in English, I thought I would attempt a comprehensible version. Since there are sixteen major segments, I
In my January Blog, I mentioned that we have more than 900 people whom have passed the CFP certification exam, but there are one third of them whom didn’t renew their qualifications in 2011.
A third of the constituent members are from insurance companies, another third are from banks and the remaining are from stock securities, independent financial planning firms…etc. After they passed the CFP certification exam, they expected to perform the career of being an independent financial planner and receive advisor fees from clients by providing them professional consultation.
Korean consumers’ awareness of financial planning still remains relatively low. This calls for creating an environment in which the value of financial planning gets to be known more widely, so that more people can materialize their life dreams through financial planning. For this to happen, many competent financial planners have to be available. Also, the importance of regulation emerges, where financial planners can practice actively and clients can feel confident.
A job that requires a high level of professionalism involves many characteristics that cannot be easily accessed or comprehended by ordinary people, as well as many regulations that the profession has to comply with to protect clients’ interests. Financial planners have to abide by many regulations concerning recommendations of financial products associated with the practice of financial planning.
Every year public relations firm Edelman conducts a global survey on trust. This is the 12th year of the survey and it is a very comprehensive look at the state of trust around the world. The survey is conducted online with informed members of the public – college grads with incomes in the top 25 percent of their country who also follow public policy issues on a regular basis. Each interview takes 20 minutes. The Edelman Trust Barometer is a very credible view of the state of Trust in the world today.
Whisper it quietly – regulation can be a good thing. And in the UK, in particular, 24 years of point-of- sale regulation has had some profound effects on the marketplace, and these have not always been the intended or predicted ones.
In particular, the continued efforts of successive regulators to increase the transparency of the sales/advice/distribution process have been a big help to both consumers and financial planners.
With so much regulatory change currently taking place, and so much attention on the apparent failure of regulation to prevent the global banking system from making monumental errors, it would be easy to come down against the role of regulation.
Yet one question we frequently ask ourselves is whether we would do anything differently in the absence of existing regulation. The answer is usually a resounding “no”.
The United States may be the birth place of financial planning but at times it feels like some people here just want to march in place while the rest of the world is busy growing the profession. I recently read a short article by Laurence Barton, Ph.D, the president of the American College, explaining how expanding the fiduciary standard will harm consumers. Really? His concern is that requiring variable annuity sales people to act in the best interest of their clients will drive more financial services professionals to a fee-based model.
Financial Planning Standards Board Ltd. owns the marks above outside the U.S. and permits qualified individuals to use these marks to indicate that they have met FPSB's initial and ongoing certification requirements.
By Michael E. Kitces, CFP, MSFS, MTAX
By Joel Redmond, CFP
In my January Blog, I mentioned that we have more than 900 people whom have passed the CFP certification exam, but there are one third of them whom didn’t renew their qualifications in 2011. 
By Junesoo Chang, CFP
by Jaeyoung Yang, CFP
By Dan Candura, CFP
By Phil Billingham, CFP
By Martin Bamford, CFP
By Karen Schaeffer, CFP