CFP Board suspends Oklahoma planner

CFP Board suspends Oklahoma planner
The action follows a Securities and Exchange Commission settlement with Gregory Womack and his Edmond-based firm.
NOV 04, 2022

The Certified Financial Planner Board of Standards Inc. has imposed an interim suspension of the CFP certification of Gregory K. Womack, whose Womack Investment Advisers is based in Edmond, Oklahoma.

In August, the Securities and Exchange Commission filed charges against Womack and settled with him and his firm over findings that he engaged in fraud in connection with the sale of unregistered securities of interests in conservation easement investments.

As part of the settlement, Womack agreed to pay disgorgement of $236,739, plus $48,170 in prejudgment interest and a civil penalty of $145,030. His firm is liable for disgorgement of $160,000, plus $32,609 in interest and a civil penalty of $517,955.

The CFP Board’s interim suspension means Womack loses his right to use the CFP mark pending a completed investigation and possible further disciplinary proceedings.

'IN the Office' with business professor and author Beth Livingston

Latest News

UBS profit beats estimates as Ermotti sees brighter outlook
UBS profit beats estimates as Ermotti sees brighter outlook

Wealth management unit sees inflows of $23 billion.

Evercore to buy advisory firm Robey Warshaw for $196 million
Evercore to buy advisory firm Robey Warshaw for $196 million

Deal will give US investment bank a foothold in lucrative European market.

Gates and Buffett’s Giving Pledge is 15 years old, but many signatories are richer than ever
Gates and Buffett’s Giving Pledge is 15 years old, but many signatories are richer than ever

New report examines the impact that the initiative has had on philanthropy.

Americans stay the course on 401(k) savings despite inflation fears
Americans stay the course on 401(k) savings despite inflation fears

Few feel confident that they will meet their retirement goals.

What advisors need to know about SECURE 2.0’s impact on retirement income planning
What advisors need to know about SECURE 2.0’s impact on retirement income planning

Catch-up contributions, required minimum distributions, and 529 plans are just some of the areas the Biden-ratified legislation touches.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.