Blaine Aikin, who heads the board of directors of the Certified Financial Planner Board of Standards, says he expects "meaningful changes" to the proposed modifications of its Standards of Professional Conduct.
Speaking to reporters attending the FPA's annual conference in Nashville, Tennessee, Aikin said the CFP Board had received more than 1,300 comments on its proposed revisions, which would, among other changes, require CFPs to act as fiduciaries for clients always, not just when providing financial planning services, which is the current standard.
The next "pivotal" decision about the proposed revisions will take place at the directors' first meeting in November when board members will consider recommendations from the CFP's Commision on Standards on how to proceed.
