Advisor Business

For CFPs To Be Regarded And Regulated As Professionals, Financial Planning Coalition Must Build Bridges, Not Walls; CFP Alignment With CFAs, CPAs, CPWAs Is In Consumers’ Best Interest

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It is provincial, unrealistic and not in the best of interest of consumers to view the CFP designation as superior to all other professional designations, and NAPFA’s full-embrace of the CFP last week was counterproductive. Sorry, my friends, but if you want to help advance the profession, then do you really expect people to believe CFPs are superior to CFAs, CPA/PFSs or CIMAs, or CPWAs. The curriculum of all these designations equip a professional with skills to manage wealth in a professional manner.

Raising Taxes On The Wealthy Is Increasingly The Sticking Point In Fiscal Cliff Negotiations

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The push to raise taxes on the wealthy is becoming even more of a sticking point in the negotiations around the fiscal cliff issue. Democrats are refusing to consider another patch for the alternative minimum tax (AMT) to keep it from affecting 28 million more people or any type of cut in Medicare reimbursements unless the Republicans agree to raise taxes on the top 2% of wage earners.

LPL Financial Names New Chief Information Officer

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LPL Financial, the nation's largest independent broker-dealer, today announced that Victor Fetter has been appointed chief information officer and managing director of the company's Business Technology Services (BTS) business unit, effective December 17, 2012.

Small Firms Will Still Be Viable Even As Larger Independents Continue To Consolidate

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Consolidation in the independent RIA market may result in a series of $100 billion firms in assets under management dominating the market. What does that mean for smaller firms, say, with assets of $100 million or less? Will they just be gobbled up?

NAPFA Makes The CFP Designation A Requirement For Membership; Does That Decision Match Up With NAPFA's Mantra To Uphold The Fiduciary Standard?

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If you want to become a NAPFA-Registered Financial Advisor, you will now will have to have earned the Certified Financial Planner (CFP®) designation. The National Association of Personal Financial Advisors (NAPFA) says its decision is the next step in raising the professional status of the industry. Critics say the CFP® may not be the most appropriate standard bearer for the financial advisor profession.