Latest "Certified Financial Planners" Posts

CFP Ethics Training – Some Rules Don’t make Sense!

Some years back Barclays contacted me about recording special training for Certified Financial Planners.  They wanted to offer Ethics Training for free through their iShares brand recognizing their commitment to ethical behavior in the financial services arena.  Their thought, provide the “required” training for free – what better way to demonstrate their commitment to ethical CFP Ethics Trainingbehavior.  The project was approved by the appropriate authorities and together we created some pretty dog gone good training – at least that’s the feedback we received.

Great Concept but then something changed and not for the better when it comes to CFP Ethics Training!

While the guiding ethical principles for Certified Financial Planners has not changed, the requirements for who is eligible to present these standards has and that, for me is the rub.

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Posted by Chuck Gallagher in Certified Financial Planners, ethics training and tagged , , , , , ,

Ethics Issues facing Certified Financial Planners

The landscape has sharply changed for Certified Financial Planners (CFP’s).  Recently President Barack Obama endorsed stricter standards for those who recommend retirement-investment accounts.  The proposed new rules would require advisers to put Certified Financial Plannertheir clients’ interests ahead of personal gain.  The proposals highlight the critical ethics issues facing certified financial planners.

The proposed rules, drafted by the Labor Department are expected to chip away at lucrative sources of income for brokers. Many complain that they already operate under strict rules and therefore are not necessary.  The impact of these new rules would potentially change how financial professionals are paid.

Since the passage of the Sarbanes-Oxley Act of 2002, there is greater transparency in financial information and the way that it is conveyed. This has translated into an expanded concept of always putting the interests of the client first.

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Posted by Chuck Gallagher in Business and Personal Ethics, business ethics, Certified Financial Planners and tagged , ,

Attention CFPs: Ethics training doesn’t have to be boring!

It’s no secret, at least among certified financial planners: Most ethics courses are as boring as can be.  Ethics training doesn’t have to be boring. They just don’t have to be. In conjunction with my consulting group, Barclay’s has created a webinar on ethics for CFPs to get their continuing education hours. So, if you go to Barclays, and register as a CFP, you’ll have access to this webinar. Non-boring. For a change. Check it out – cause ethics training doesn’t have to be boring.

ethics training doesn’t have to be boring

Ethics training doesn’t have to be boring.

 

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Posted by Chuck Gallagher in business ethics, Certified Financial Planners and tagged , , , , ,