CFP Board Working On Firmer Planner Bankruptcy Rules

Wednesday, November 30, 2011 08:39
CFP Board Working On Firmer Planner Bankruptcy Rules

Tags: CFP Board

When financial planners lose their certification, it is often because they themselves went broke -- raising questions about the planning process.

This Website Is For Financial Professionals Only


The CFP Board is currently formalizing the way it treats planner bankruptcy and new guidance should be out soon.


Normally bankruptcy is enough to trigger a disciplinary review.


Not all busted planners are stripped of their professional mark, but the number of bankruptcy hearing the CFP Board has conducted shot up from 20 to 49 over the last year. 


Two bankruptcies in one lifetime will apparently still disqualify anyone from using the CFP mark to advertise his or her business.

Comments (1)

Sometimes this may beyond the individuals control-in the case of divorce especially.
cbitzas , November 30, 2011

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.