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Credit
Where Credit Is Due |
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George
Loewenstein has never been tortured, but like the rest of us
he’s seen plenty of movies in which people are offered the
option of being interrogated the "easy way" ('Tell
us everything we want to know and nobody gets hurt') or the
"hard way" ('We have ways of making you talk…').
He suggests that people who use credit cards unwisely think
they’re taking the easy way out but end up getting hit the
hardest. That’s because paying for stuff with credit cards
feels painless—until you get the bill, and then the pain is
much, much worse. Read
the complete editorial from best-selling
author James Geary.
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Ethics
and Financial Planning |
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Financial
planning has benefits for nearly every part of a person’s
life. Having clear, enforceable ethical standards for those
who provide financial planning services is vital, and CFP
Board is committed to maintaining high ethical standards for
those to whom it grants CFP®
certification.
CFP
Board’s mission is to help people benefit from competent and
ethical financial planning. One way CFP Board accomplishes
that mission is through the four E’s required for CERTIFIED
FINANCIAL PLANNER™ certification: Education, Examination,
Experience and Ethics. The education, exam and experience
requirements – including ongoing continuing education
requirements – are all designed to ensure that CFP®
professionals are competent to provide the public with quality
financial planning services. With all the work required to
complete those three requirements, the ethics requirement
sometimes gets overlooked. But ethics are an integral
component of CFP®
certification, and CFP Board takes very seriously its ethical
standards and the enforcement of those standards. Read
more about CFP Board’s disciplinary procedures and ethical
standards.
CFP
Board recently announced proposed changes to its ethical
standards for CFP®
certificants. The proposed changes are intended to strengthen
CFP Board’s ethical standards by making them more clear and
concise, by strengthening important provisions related to
disclosure requirements and duty of care, among others, and by
making them applicable to all who hold CFP®
certification, regardless of whether individual CFP®
professionals classify their business activities as
"financial planning."" The Exposure Draft of
proposed changes is available for review at www.CFP.net/aboutus/Exposure_Draft.asp,
and CFP Board’s Board of Governors (Board) is accepting
written comments on the proposed changes until September 25,
2006. In October, the Board will review the comments and
determine what further action to take with regard to the
Exposure Draft. We encourage everyone interested in financial
planning to review the proposed changes and send their
comments to mail@CFPBoard.org.
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Financial
Planning Clinic |
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CFP
Board held its 2006 Annual Meeting the first week of August in
Los Angeles and Santa Monica, bringing together all of CFP
Board's stakeholder groups for insights from notable speakers,
educational sessions on a wide range of financial topics, and
plenty of opportunities to network with CFP®
certificants and others whose lives benefit from financial
planning. A free Financial Planning Clinic was an especially
notable success – nearly 1,000 consumers from the Los
Angeles Metro area and beyond stopped by the Los Angeles
Convention Center on Friday, August 4, 2006 to sit down and
speak with volunteer CFP®
professionals about their finance-related questions, concerns
and curiosities. Read
more about CFP Board’s first Financial Planning Clinic.
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About
This eNewsletter |
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You
are receiving this e-mail because you subscribed to CFP Board's
eNewsletter. Periodically, CFP Board will e-mail you "It's Your
Turn," which includes information about financial planning,
consumer alerts, financial planning tools and resources and much
more. Suggestions and feedback are welcome at
mail@CFP-Board.org.
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