Lindso, I think we're fundamentally on the same page.
Here's a reform I propose:
Abolish the current titles of Financial Planner and Advisor.
Institute two new titles, under a new Financial Agents Act: 1. Financial Product Sales Agent - this person receives a commission for selling products. 2. Financial Services Agent - this person cannot receive commissions. They can only charge fixed or hourly fees and are bound by a statutory code of ethics to act only in the objective best interests of the client. This is a degree qualified position (Finance Major) with a practical experience requirement. NO GRANDFATHERING OF EXISTING CFP/FPA MEMBERS.
The titles accruately describe what the Agents do. There would also be a 'Financial Agent's Board' similar to the State Estate Agents' Boards.
