CFPs Are Fiduciaries Even When They Sell Annuities, CFP Board Says
December 1, 2023 by Tracey Longo
CFPs who sell annuities are subject to a tougher fiduciary standard, as well as the National Association of Insurance Commissioners (NAIC) suitability model regulation, the CFP Board said in new guide published today.
“The CFP Board Code imposes a fiduciary duty. The Model Regulation does not,” the guide said, adding that advisors who sell insurance products must follow both.
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Originally Posted at Financial Advisor on November 14, 2023 by Tracey Longo.
Categories: Industry Articles