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10 Should-Dos for CFPs Who Advise Purchasers on Crypto


The Licensed Monetary Planner Board of Requirements on Monday issued crypto-related tips for CFPs.

The information is in response to questions in regards to the utility of the CFP Board’s Code of Ethics and Requirements of Conduct to monetary recommendation about cryptocurrencies and different monetary property whose worth is tied to cryptocurrencies.

“Developed with our Requirements Useful resource Fee, this information on cryptocurrency-related property is a much-needed addition to our compliance useful resource library, which is designed to learn and shield the general public by educating CFP professionals on the right way to put their purchasers’ greatest pursuits first,” Kevin Keller, CFP Board’s CEO, mentioned in an announcement.

Keller mentioned that CFPs “regularly search a greater understanding of what they need to contemplate when offering monetary recommendation to a consumer.” As a part of their certification, Keller added, “they make a dedication to CFP Board to behave as a fiduciary when offering monetary recommendation.”

CFP Board’s Code and Requirements “applies to cryptocurrency-related property in the identical method that it applies to all Monetary Property. Nonetheless, as regulators and client advocates have famous, cryptocurrency-related property have specific attributes and current vital dangers and uncertainties that warrant cautious evaluation,” CFP Board mentioned.  “This consists of whether or not a specific cryptocurrency-related asset is now or sooner or later could also be regulated as a safety or a commodity or one other sort of asset.”

Learn the gallery to see 10 must-dos for CFPs to make sure compliance with CFP Board requirements.

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