The board issued a ‘public admonition’ of Alan Goldfarb yesterday, claiming he described his Dallas, Texas-based financial planning practice as “fee-only” – the US term for a fee-for-service remuneration structure – when in fact the firm’s advisers were permitted to receive product commissions, Reuters has reported.
Mr Goldfarb, who is managing director of Concert Wealth Management in Dallas, was also accused of describing himself as a ‘salaried’ adviser despite the commission remuneration structure, in contravention of the CFP Board code of ethics.
A ‘public admonition’ is one of the more lenient penalties open to the board, which also has the authority to withdraw certification from a member.
So why is this untested allegation of imporpriety
1. News in Australia note you said CFP board chair accussed of unethical practice
2. if you are going to sledge someone – why did you not have links to the full summary of events
3. are you joining the rest of the leftie press from Fairfax to have a crack at anything to do with financial planning
as a comparison – its like saying that if journalists in the UK are a dud – then by default your journalist is a dud
( which I might add – in light of this story is close to the fact
What can one say……….