CFP Board

Industry groups warn of creeping fiduciary obligations, while consumer advocates see it as a setback for investor protections

The widespread popularity of the compensation descriptor, long ballyhooed by RIAs, ultimately proved problematic for the CFP Board which has updated its standards.

Candidates will be allowed “two tissues” while testing at home and are advised to have bed linen handy.

“The face of our industry is typically not me,” says the Vanguard and DFA veteran. “I thought about how many young people that I could inspire. So I raised my hand.”

“If anything, this environment has actually pushed people to complete their credits,” says John Loper, managing director of professional practice for the CFP Board.

The board is “decisively moving away” from allowing advisors to self-disclose, CEO Kevin Keller says.

Thousands of planners have dropped their memberships in recent years. Here’s why I joined them.

“Especially in this time when we are thinking, ‘Is there going to be a shortage of opportunity,’ in comes this one. It’s put a lot of fire in me to learn as much as I can,” says new college graduate Kameron Kindle.

The data on Black and Latino advisors helps track the industry’s progress amid nationwide Black Lives Matter protests.

The change is one of several made to the board’s disciplinary reporting process following a report by an independent task force that found “systemic, long-standing, governance-level weaknesses.”