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Chair of CFP Board’s Board of Directors Resigns
11-02-2012, 05:16 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,671
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Chair of CFP Board’s Board of Directors Resigns
This cryptic article about allegations of violations of our Standards of Professional Conduct regarding resignations of big mucky mucks on the CFP Board has me curious.
Quote:
The directors of the CFP Board have announced the resignation of Chair Alan Goldfarb, CFP, effective immediately. He will be replaced by 2012 Chair elect Nancy Kistner, CFP.
The board also announced the immediate resignation of two members of the Disciplinary and Ethics Commission (DEC). Coming all at once, the trio of resignations could become an embarrassment for the CFP Board, which has held itself out to the public as both a professional regulatory organization and a potential self-regulatory organization.
According to Kistner, the resignations were “…due to allegations of violations of our Standards of Professional Conduct.”
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Chair of CFP Board
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11-02-2012, 08:41 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,657
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TLA
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11-03-2012, 01:05 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,671
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Quote:
Originally Posted by growing_older
TLA
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Texas Library Association?
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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11-03-2012, 01:19 PM
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#4
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,525
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Quote:
Originally Posted by mickeyd
Texas Library Association?
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I think growing_older means "Three-Letter Acronym", mickeyd.
Certified Financial Planner
Ironic that the board just voted on the disciplinary rules in August. Caught in their own net, so to speak. List of 26 violations here:
http://www.cfp.net/downloads/CFPBoar...es_2012-07.pdf
This press release gives some more info, but not much more.
CFP BOARD’S BOARD OF DIRECTORS ANNOUNCES RESIGNATION OF ITS CHAIR, ALAN GOLDFARB, CFP®
This story hints at some alleged misrepresntation of commissions as salary:
http://www.financial-planning.com/ne...2681676-1.html
Quote:
[Goldfarb:]I can say that the alleged violation concerns representing my compensation as ‘salary,’ which it is,” he wrote, “as opposed to ‘fee and commission,’ since I am also the principal of an M&A-based broker-dealer."
The CEO of the CFP Board, Kevin Keller, said Goldfarb had mischaracterized the allegation. “Alan Goldfarb’s description of the alleged violation that is being referred for further proceedings under our disciplinary rules and procedures is not correct,” Keller said. He would not elaborate.
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