Candidate Fitness Standards

Question 1

What are the Fitness Standards?

Answer 1

• ensure an individuals conduct does not reflect adversely on his or her fitness as a candidate for the CFP certification, or upon the CFP certification marks.
• provide notice to individuals interested in attaining the CFP certification that certain conduct could bar certification, or required an individual to petition the Disciplinary and Ethics Commission (DEC) for consideration.

Question 2

Conduct Deemed Unacceptable

Answer 2

• Felony conviction for theft, embezzlement or other financially-based crimes
• felony conviction for tax fraud or other tax-related crimes
• Revocation of a financial professional license, unless in administrative in nature
• felony conviction for any degree of murder or rape
• felony conviction for any other violent crime in the past 5 years.
• Two or more personal or business bankruptcies

Question 3

Conduct Deemed a Presumptive Bar

Answer 3

The following conduct will bar an individual from becoming certified unless the individual petitions the Disciplinary and Ethics commission for reconsideration.

• one personal or business bankruptcy within the past 5 years
• more than one judgement lean
• revocation or suspension of a non-financial professional license, unless administrative in nature
• Revocation of a financial professional license, unless in administrative in nature
• felony conviction for non-violent crimes (including perjury) within the past 5 years.
• Felony conviction for violent crimes other than murder or rape that occurred more than 5 years ago.

Question 4

Petitions for Reconsideration

Answer 4

• CFP board will notify the individual that he/she is permanently bared from becoming certified
• Individual will submit a written petition to the board for consideration and signs a form agreeing to CFP boards jurisdiction to review the matter
• CFP reviews the request and will request all relevant documentation for the individual. A fee will be paid by the individual submitting the petition
• the board will either Grant or Deny
• if denied, the board will allow the individual to re-apply after the time limit on the conduct has expired or at such a time as the DEC may establish
• they may also determine an outright denial