When the Whole World is Your Client

Thompson, Duane R.
June 2000
Journal of Financial Planning;Jun2000, Vol. 13 Issue 6, p32
Academic Journal
This article explores the client engagements of certified financial planners in the U.S. In 1999, the Certified Financial Planner Board of Standards Inc. (CFP) adopted a revised definition of client, affirming that a practitioner is engaged when an individual reasonably relies upon information or service provided by that practitioner. However, most CFP designees have not become accustomed to the new standard. This issue has prompted the board to establish regulatory guidance. The board responded through a private letter that concludes that a client relationship will exist unless specifically precluded by use of disclaimers.


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