CFP - a benefit to investor?

[RonBoyd]

Here is an interesting piece trumpeting the benefits of using a Certified Financial Planner:

Stepping Up Future of Planning Blog

We put the client ahead of ourselves. We don’t “produce” just because a sale is made. We “produce” because we have served the client’s best interests—especially when the client has trusted us to tell them what those “best interests” are.

And we need to tell the story. What of those who have cheerfully committed to placing their client’s interests ahead of their own? That CFP® licensees have stepped into accepting our fiduciary status is one of the great tales of the 21st century.

True?

 

[yakers]

Some have, but most I know of haven't. There is no fiduciary requirement placed on a CFP AKAIK. The tales of CFPs has been dismal rather than 'great'. That being said, there are some I recommend to friends who just have to have someone manage their money.

 

[dgoldenz]

There are CFP's who will take your money and do a crappy job. There are CFP's who will take your money and do a great job.

There are salesmen who will take your money and do a crappy job. There are salesmen who will take your money and do a great job.


Take out the words "CFP" and "salesmen" above and insert any occupation and it will still hold true.