A closer look at the CFP with Ken Schreiber

The CFP Board and Ken Schreiber weighs in

The CFP Board has been under fire in recent years for a variety of reasons. Some critics have argued that the CFP designation has become too easy to obtain, while others have accused the CFP Board of being too lenient in its enforcement of ethical standards. In a recent interview, Ken Schreiber, a former CFP Board member, discussed some of the challenges facing the CFP profession.

Schreiber's concerns

Schreiber expressed concern about the CFP Board's lack of diversity. He noted that the CFP Board is predominantly white and male, and that this lack of diversity is reflected in the CFP profession as a whole. Schreiber also criticized the CFP Board for its handling of complaints against CFPs. He said that the CFP Board is often slow to investigate complaints, and that it often takes years for the CFP Board to take disciplinary action against CFPs who have been found to have violated ethical standards.

The CFP Board's response

The CFP Board has responded to Schreiber's criticisms by saying that it is committed to diversity and inclusion. The CFP Board has also said that it is working to improve its complaint handling process. However, some critics have argued that the CFP Board is not doing enough to address the challenges facing the CFP profession.

The future of CFP

The future of the CFP profession is uncertain. The CFP Board is facing a number of challenges, including the lack of diversity, the slow complaint handling process, and the perception that the CFP designation is too easy to obtain. If the CFP Board is able to address these challenges, the CFP profession will continue to be a valuable credential for financial planners. However, if the CFP Board fails to address these challenges, the CFP profession may become less relevant in the future.

It is important to note that the views expressed in this article are those of Ken Schreiber and do not necessarily reflect the views of the CFP Board.