Protect Your CFP Board® Certification
You've worked hard for your professional certifications and designations, and likely want to protect and retain them. They can show the world that you've achieved a high standard and can add even more value to your clients. So, if you are a financial advisor who is a Certified Financial Planner®, you should be very careful when responding to a Notice of Investigation from the Certified Financial Planner Board of Standards, Inc. (the CFP Board®). Ramifications of a CFP® investigation can have a significant impact on your career. Likewise, you should be careful to ensure that you're making appropriate reports on disclosable events to the Board as required under their rules.
At The Beck Law Firm, LLC, we put decades of experience in regulatory and compliance matters to work for you, to help you protect your designations. We routinely represent Certified Financial Planners® who have received a Notice of Investigation announcing that they are the subject of a review by the Board or helping them understand their self-reporting disclosure obligations and then making those reports as appropriate.
Remember that when you receive a Notice of Investigation you have a limited time in which to respond. As such, you'll want to consult with experienced legal counsel immediately, so that your situation and defenses can be analyzed, and a proper response prepared and submitted within the time limits. From there, your lawyer will represent you throughout the remainder of the investigation, as well as before a hearing panel if a formal complaint is filed against you. Often, these complaints are resolved through a negotiated settlement, but some cases involve a hearing.
If you are a CFP®, know that the CFP Board® will be represented by legal counsel throughout the investigation and discipline process. As we discuss here, Tom Sporkin, Managing Director of Enforcement, is aiming to build the toughest enforcement program in the profession. Therefore, you would be wise to ensure that you work with an experienced attorney in this process as well, to seek the most favorable outcome possible for you.
If we can be of help to you with regard to a CFP Board® investigation or other matter, I invite you to contact us.