When financial planners lose their certification, it is often because they themselves went broke -- raising questions about the planning process.
The CFP Board is currently formalizing the way it treats planner bankruptcy and new guidance should be out soon.
Normally bankruptcy is enough to trigger a disciplinary review.
Not all busted planners are stripped of their professional mark, but the number of bankruptcy hearing the CFP Board has conducted shot up from 20 to 49 over the last year.
Two bankruptcies in one lifetime will apparently still disqualify anyone from using the CFP mark to advertise his or her business.