Americans don’t learn about finances in school but rather from the school of “hard knocks” (experience). When it comes to finances, many turn for help. The problem is virtually anyone can be called a financial advisor, including stockbrokers and insurance salesman.
Recently, the CFP Board, put stricter standards in place by requiring Certified Financial Planning practitioner to “always place the client’s interests ahead of their own”.
The new standard also requires CFP’s to disclose potential conflicts of interest and how they are paid (including commissions and cash bonuses) so that the clients can make more informed decisions. This is seen …Read More