There has been much controversy concerning the benefits of the certification (professionalization) of financial planners and the merits of various compensation systems; this study examined the controversy insofar as it concerned ethical orientation rather than competence issues. The study was delimited to financial planners practicing in the United States of America. It was found that Certified Financial Planner (CFP) designees manifested higher ethical orientation scores than non-designees. Fee…
Read moreThere has been much controversy concerning the benefits of the certification (professionalization) of financial planners and the merits of various compensation systems; this study examined the controversy insofar as it concerned ethical orientation rather than competence issues. The study was delimited to financial planners practicing in the United States of America. It was found that Certified Financial Planner (CFP) designees manifested higher ethical orientation scores than non-designees. Fee-based planners manifested no significantly different ethical orientation scores as compared to their counterparts. Lower ethical orientation scores were noted among planners whose career tenure exceeded 10 years.
