The certified financial planning board has issued a new version of its standards and ethics. In the new version, they have expanded the fiduciary standard as part of being CFP. In addition, the Secures and Exchange Commission has issued a new regulation revising the standard of “Suitability” used by financial advisory and brokerage firms into a new standard known as best interest.
The paper needs to define and discuss both the CFP standard and the SEC standard. The paper should include an analysis of both positions what they mean, and the similarities and differences between the two. The paper should reflect the impact on the clients as well as the financial services industry.
