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June 21, 2001 at 08:00 PM
NU Online News Service, June 21, 11:05 p.m. – The Certified Financial Planner Board of Standards, Denver, says advisors who hold the Certified Financial Planner designation should avoid borrowing from their clients or lending to their clients.
The CFP Board’s Board of Professional Review often ends up reviewing disciplinary cases involving loans between planners and their clients, the CFP Board says.
The CFP Code of Ethics does not specifically prohibit loans between advisors and clients, but the code does require CFP advisors to act in the best interest of clients.
