The CFP Board of Standards says part of its mission is to serve the public by upholding high standards of conduct. But some planners are questioning the group's motives after it recently gained access to many Americans' private financial information. Skeptics wonder whose best interest the organization has at heart.
The board had asked the SEC in March to allow RIAs and broker-dealers to share customer information - such as brokerage and bank account statements - without violating Regulation S-P. This regulation governs how institutions should handle customers' private financial data.
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