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Halpern Financial Already Meets New CFP Board Standards Thumbnail

Halpern Financial Already Meets New CFP Board Standards

The CFP Board (the non-profit organization that establishes the standards of competency and ethics for personal financial planners) has recently come out with updated ethics standards. You’ll be pleased to know Halpern Financial already complies with this higher standard!

 In the past, depending on the type of firm a CFP professional worked for, they were only required to behave as a fiduciary for certain types of accounts. We have never done things that way because we believe in conflict-free advice, and holding ourselves to the highest standard, even if it isn’t “required”.  Now, the CFP Board has closed this loophole, requiring that a CFP® professional must act as a fiduciary at all times. In addition, the CFP Board has made their ethics standards much more consumer-friendly. A key example of this is a specific standard  for using terms that consumers often find confusing, like “fee-based” (commission and a fee) versus “fee-only” (only a fee for advice, no other compensation).

 We abide not only by the CFP Board code of ethics, but also NAPFA’s, one of the strictest in the industry. In everything we do, we follow the Golden Rule: we treat our clients as we would want to be treated. This means following a strict fiduciary standard. We have and will always place our clients’ best interest first, and we have a fee-only structure for our business, which places advisor and client on the same side of the table.

 As always, we are proud to serve our clients in a fiduciary manner. We will continue to meet and surpass the highest standards in ethics, practice management, technology and continuing education to provide the best advice to you.

Learn More

Read the new CFP Board Code of Ethics

Compare the new vs. old CFP Board Standards

Read the NAPFA Code of Ethics

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Halpern Financial, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Halpern Financial, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Halpern Financial, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Halpern Financial, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.