rubber stamps labeled rules and regulations Advisors that carry the CFP designation areprepping to be held to a broader fiduciary standard, startingOctober 1 of this year. (Photo: Shutterstock)

As the financial services industry braces for the Securities and Exchange Commission to drop newregulations governing broker-dealers' standards of conduct, advisors thatcarry the Certified Financial Planner (CFP) designation areprepping to be held to a broader fiduciary standard, startingOctober 1 of this year.

Under the CFP Board's existing code and standardsrequirement, CFPs are held to a fiduciary standard when providingfinancial planning.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.