The Certified Financial Planner Board of Standards Inc. has publicly sanctioned 13 current or former CFP holders or candidates for CFP certification.
Public sanctions taken by the CFP Board, in order of increasing severity, include public censures, suspensions, temporary bars, permanent bars and revocations of the right to use the CFP marks, the Board said in a release.
The CFP certifications of the following advisers were revoked: Donald Padilla of Encino, California, for failure to comply with arbitration awards; David M. Hoff of Lake St. Louis, Missouri, for failing to participate in a CFP Board investigation over compensation arrangements; and David R. Nute of Sequim, Washington, for his failure to treat fellow professionals and others with dignity, courtesy and respect.
Permanently barred was Mark W. Just of Carmel, Indiana, for failing to cooperate with the CFP Board’s investigation of two consumer arbitrations.
A temporary bar, for one year and one day, was issued to Lee G. Harris of Muskegon, Michigan, for failure to acknowledge receipt of a CFP Board Notice of Investigation into civil judgments filed against him.
Suspensions were issued to three advisers: David A. Dickson of Orangevale, California, for three months over issues connected to paying federal taxes; Edwin G. Treimanis of Tampa, Florida, for one year and one day, for failure to pay taxes in full; and Steven J. Thompson of Salt Lake City, Utah, for one year and one day, for tax-related issues.
The public censures were issued to five advisers: Scott Taubman of Peoria, Arizona, for filing for personal bankruptcy; Kristopher Moody of Boca Raton, Florida, for breaching his fiduciary duty by advising a couple in the process of divorcing; Robert Goshen of Highwood, Illinois, for filing for personal bankruptcy; Gregory A. Chona of Crown Point, Indiana, for failure to timely pay taxes to the Internal Revenue Service; and John R. James of Rapid City, South Dakota, for failure to report two vehicular misdemeanors.
AI-driven job fears are weighing on retirement confidence, especially among Gen Z and Millennials, Thrivent survey finds
It’s the second time in as many years regulators have penalized Centaurus Financial for lack of compliance with Reg BI.
AI Teammate is embedded within Wells Fargo’s Advisor Gateway desktop platform.
Elsewhere, Ameriprise added a $470 million Wells team in New York, while an ex-Morgan Stanley advisor bolsters UBS' Austin, Texas office.
Financial advisors play an essential role in helping small business owners navigate their transition out of the company — and into retirement.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
