Dear Editor:

I agree completely with Mr. Robinson.

I started my financial planning practice in 1968 while earning a Master’s Degree in Finance at the MIT Sloan School of Management.  Subsequently I earned my CLU, ChFC, MSFS and AEP designations and have been an RIA since 1982.
Most of this professional training occurred prior to the existence and/or credibility of the CFP designation.

Like Mr. Robinson, I believe I am more qualified and educated than most CFPs, yet I have never received a meaningful response to my request that long-term, qualified professional practitioners such as myself and Mr. Robinson simply be granted a CFP designation, perhaps as a singular event.

The CFP may generally be a valid designation, but it clearly is not the only pathway to professional financial planning.

I have been trying to contact the CFP Board and the FPA regarding the CFP designation for more than five years with no meaningful response.  The FPA, of which I have been a member for twenty-five years, does not permit non-CFPs to participate in referrals or even pro-bono work, regardless of qualifications.  Therefore, I will not be renewing my FPA membership this year.

Len Coris
President
Watermill Financial Group
Wakefield, MA

Dear Editor:

Great response - John hit the issue on the head.   Why is Dan Moisand so afraid of those who don't have the CFP designation?  You can't legislate intelligence and morality.

Based on his reasoning, I suppose all investment professionals who don't have the CFA designation are "faux investment advisor".

Being a CFA, I would not be so arrogant to think that is the truth.  I hope Mr. Moisand reconsiders his position and overcomes his fear.

Thanks,

Rob Jung, CFA, CPA
Crew Capital Management Ltd.
Cincinnati, OH

Dear Editor:

I do not agree with Dan Moisand.

What does Moisand consider the tens of thousands of insurance agents who call themselves "Financial Planners" to be? They often have only a life insurance license that gives them the ability to sell indexed annuities with 20+ year surrender charges like hotcakes.  They call themselves "Senior Specialists" and other certified names in addition to "Financial Planner." 

We should concentrate on educating the public about the value of a CFP over a non-certified financial planner.  CPA is a well known and well-respected designation.  CFP should be as well.  Let the public choose the CFP over the financial planner.  Then the people who have other credentials (and therefore should easily pass the CFP exam) will want to become CFPs as well. 

Geal Talbert, CFP
Legacy Group Wealth Management
Kaneohe, HI

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