The Financial Planning Association has endorsed efforts by the Massachusetts Securities Division to regulate use of professional designations.
The FPA, Denver, represents holders of a variety of financial services designations, including 28,000 holders of the Certified Financial Planner designation.
Massachusetts is the first state that has proposed a rule to prohibit financial services professionals from using misleading professional designations, the FPA says.
The FPA has sent Bay State officials a letter asking them to treat the CFP designation as an example of the type of designation that deserves protection.
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