NAPFA to accept CFP designation only

Association decides to go with single mark for RIAs

Dec 4, 2012 @ 11:50 am

By IN Staff

NAPFA
+ Zoom

The National Association of Personal Financial Advisors on Tuesday announced it will only accept the Certified Financial Planner designation for those applying to be NAPFA-registered financial advisers.

According to a statement, the NAPFA National Board recognized the need to support the emerging profession of financial planning by supporting a singular professional designation.

NAPFA said its decision could be seen as an important consumer issue. The board indicated in its statement that the public is being bombarded by an alphabet soup of designations that only professionals can be expected to understand.

NAPFA said its decision could be seen as an important consumer issue. The board indicated in its statement that the public is being bombarded by an alphabet soup of designations that only professionals can be expected to understand.

NAPFA Chair Lauren Locker, noted: “NAPFA's decision to support the broader recognition of a single, defining designation for the financial planning community just makes sense. Less confusion means more consumer confidence, and the CFP designation hits the mark as a strong, baseline standard.”

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Latest news & opinion

Wells Fargo Advisors restricting investments for retirement accounts

Mutual fund sales will be limited to T shares, while municipal bonds, preferred stock and international debt will be prohibited.

Morgan Stanley joins competitors in cutting back on recruiting

Wirehouse said it intends to increase its investment in existing talent.

DOL Fiduciary Rule: What you need to know about Acosta's decision

Labor Secretary Alexander Acosta confirmed that the agency's fiduciary rule will become applicable on June 9. Find out what advisers and firms should know when it goes into effect.

Acosta declines to extend delay of DOL fiduciary rule

Labor Secretary finds no legal basis to delay implementation; rule to become applicable June 9

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print