Today, I attended a class on the new rules being imposed on CERTIFIED FINANCIAL PLANNER (R) professionals like myself by our professional regulatory body, the CFP Board.  There is an amazing amount of disclosure required.

For example, I must now get a client’s signature so that they know whether or not they asked me to evaluate their need for long-term care insurance and, if so, what that recommendation was and, lastly, whether the client chose to implement that recommendation.  Obviously, that doesn’t disclose anything the client doesn’t already know, but it is for the benefit of heirs.  And, this is only one example.

Anyway, that means more paperwork for my clients, and I apologize for that.  Yet, the combination of increased paperwork from both the government regulators and the professional regulators is a well-meaning effort to protect investors, and I will do everything I can to help.