CFP Board Business Meeting Addresses Goldfarb Resignation

But Katie McGee, director of marketing for Weaver Wealth Management, where Goldfarb is director of wealth advisory, told AdvisorOne that the CFP Board’s investigation is “over what we believe was a misunderstanding of how [Goldfarb’s] compensation was disclosed on the Financial Planning Association’s website.” Goldfarb’s resignation, McGee said, was “voluntary,” adding that the potential violation “doesn’t involve a client complaint.”

Keller said during the webinar that while “some people have looked at the incident and noted that it’s a sign of weakness, nothing could be more incorrect.” CFP Board, he said, has “standards of professional conduct and we enforce those standards, which sets the CFP designation apart from other designations.” Noting the public sanctions the Board brings against CFPs, Keller cited the “140 designations” that are listed on the Financial Industry Regulatory Authority’s (FINRA) website. “When was the last time you saw people of these other designations sanctioned?” he asked.

Lassus added that she “commended” the Board for its “openness” on the resignations. “It is reassuring that there is a fair process for addressing these allegations.”