CFP Board Plans Big Changes to Enforcement/Background Policies
Based in Freehold, New Jersey, Robert M. Ryerson has more than three decades of experience in various areas of the financial sector, ranging from stockbroking to retirement planning. Additionally, Robert M. Ryerson has been a Certified Financial Planner (CFP) professional since 1991.
In July 2019 the board of directors of the CFP Board of Standards rolled out a new plan to create a task force charged with developing sweeping reforms to the organization’s enforcement mechanisms. The move comes after an article from the Wall Street Journal raised questions about the quality of the CFP Board’s public search function, which is intended to help connect consumers with vetted CFP professionals.
The board also announced immediate changes that will go into effect and also become part of the organization’s new Code of Ethics and Standards of Conduct for CFP professionals, effective October 1, 2019. Some of these changes include checking watchdog websites such as FINRA’s BrokerCheck and the Securities and Exchange Commission’s Investment Advisor Public Disclosure database when CFP professionals renew their certification. The board also says it will make this information available to the public.
