In order to make better financial decisions, investors need simple, easy-to-understand disclosures written in plain English and provided before they hire a planner, the CFP Board recommended to the SEC.
“We believe that investor education, including timely and effective disclosures, is important to the protection of investors, regardless of who is providing the advice,” CFP Board Chief Executive Officer Kevin Keller wrote in a letter to the commission. “The additional disclosure requirements we recommend, many of which are currently embraced by CFP professionals under our Code of Professional Conduct, will help investors make key financial decisions including what type of advisor is best suited for them,” according to Keller.
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