Regulatory Information

Cornerstone Financial Planning LLC is an SEC-Registered Investment Adviser. Cornerstone Financial Planning LLC may only transact business or render personalized investment advice in those states and international jurisdictions where we are registered/filed notice or are otherwise excluded or exempted from registration requirements.  Registration does not constitute an endorsement by state regulators. Registration is mandatory for all persons meeting the definition of investment advisor and does not imply a certain level of skill or training. The purpose of this web site is for information distribution on products and services. Any communications with prospective clients residing in states or international jurisdictions where Cornerstone Financial Planning LLC and its Investment Advisor Representatives are not registered or licensed shall be limited so as not to trigger registration or licensing requirements.

This web site provides general information about Cornerstone Financial Planning, LLC and is not intended to offer investment or financial planning advice through the Internet. This site provides a medium for you to read about our approach, to learn about our services and to be able to contact us for further information.  The material in this web-site is based on information available in the marketplace and believed to be reliable and authoritative. It is not guaranteed as to its accuracy and does not create the basis for sound investment decisions. The information is general in nature and should not be applied indiscriminately to individual situations wherein it may not be completely applicable.  Hyperlinks on this web site are provided as a convenience.  Cornerstone Financial Planning, LLC disclaims any responsibility for information, services or products found on web sites linked hereto.

The CERTIFIED FINANCIAL PLANNER, CFP® and federally registered CFP (with flame design) marks (collectively, the "CFP marks") are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. ("CFP Board").

The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients.

Currently, more than 98,000 individuals have obtained CFP® certification in the United States.

To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:

Education - Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board's studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor's Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board's financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;

Examination - Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one's ability to correctly diagnose financial planning issues and apply one's knowledge of financial planning to real world circumstances;

Experience - Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and

Ethics - Agree to be bound by CFP Board's Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.

Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:

Continuing Education - Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and

Ethics - Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients.

CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board's enforcement process, which could result in suspension or permanent revocation of their CFP® certification.

The SEC or any Federal or State government agency does not approve any mark or designation. Our brochure's or supplement's uses of the word "professional" does not mean that financial planning is recognized as a profession under any Federal or State law.

NAPFA-REGISTERED INVESTMENT ADVISOR: The National Association for Personal Financial Advisors (NAPFA) is an association of fee-only financial advisors. No federal or state law or regulation requires fee-only financial planners to hold the NAPFA certification. To become a NAPFA-Registered Investment Advisor an individual must satisfactorily fulfill the following requirements:

Education and Experience: a Bachelor’s degree, the CFP® designation, and a broad-based advanced education in financial planning and three years of comprehensive planning experience. Must offer comprehensive planning services and submit a sample comprehensive financial plan or complete a peer review.

Standards of Membership and Affiliation

Applicants for any category of membership (Members) or affiliation (Affiliates) with NAPFA must meet the following standards to be considered for admission, and must continue to abide by such standards in order to maintain eligibility and good standing in NAPFA.

  1. NAPFA’s definition of a Fee-Only financial advisor: One who is compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product. Neither Members nor Affiliates may receive commissions, rebates, awards, finder’s fees, bonuses or other forms of compensation from others as a result of a client’s implementation of the individual’s planning recommendations.
  2. Prohibition of certain ownership interests and employment relationships: Neither a Member nor an Affiliate may own any interest in or be employed by a financial services industry firm that receives commissions, rebates, awards or any form of compensation prohibited by the NAPFA Standards of Membership or Affiliation. A party related to a member or an affiliate may not own an interest in a financial services industry firm that receives commissions, rebates, awards or any form of compensation prohibited by the NAPFA Standards of Membership or Affiliation; and to whom the member or affiliate makes referrals or otherwise directs business.
  3. Compliance with NAPFA standards and industry regulations: must abide by the NAPFA Code of Ethics, Standards of Membership and Affiliation, Bylaws, resolutions adopted by the Board and all rules set forth in the NAPFA Policies and Procedures Manual. Must agree to comply with all federal and state statutes, rules, regulations, administrative and judicial rulings, and other authorities applicable to the provision of financial planning or advisory related services. Must agree that they will make all appropriate filings, amendments and renewals as appropriate to required filings with regulatory authorities. This shall include, but is not limited to, Form ADV.
  4. Prompt notification of certain disciplinary and legal events: Members and Affiliates have a continuing obligation to inform the NAPFA National Office, in a prompt manner and in writing, of significant disciplinary and legal events.

Continuing Education:

Complete 60 hours every two years, including 2 hours in ethics.

Fiduciary Oath and Code of Ethics:

Fiduciary Oath

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor. The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client's purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client's business.

Following the NAPFA Fiduciary Oath means I shall:

Always act in good faith and with candor.

Be proactive in disclosing any conflicts of interest that may impact a client.

Not accept any referral fees or compensation contingent upon the purchase or sale of a financial product.

Code of Ethics:  Abide by the NAPFA Code of Ethics, a set of ethical and practice standards.