Another Battle with CFP Board

Posted on July 6th, 2016 at 2:22 PM
Another Battle with CFP Board

From the Desk of Jim Eccleston at Eccleston Law LLC:

CFP advisors Jeffrey and Kimberly Camarda, continue to face disciplinary action after a long-running legal battle with the CFP Board. In 2012 they allegedly advertised themselves as fee-only when they were not. They had sought damages against the board for alleged breach of contract along with other misconduct.

Jeffrey and Kimberly Camarda now are appealing a judge’s decision to dismiss their lawsuit against the CFP Board.

A spokesman for the CFP Board says: “We were pleased with the trial court’s decision, which affirmed the integrity of the process by which CFP Board enforces its standards. We look forward to having oral arguments heard by the Court of Appeals.”

The board took disciplinary action against the Camardas, stating that the advisory firm promoted itself as fee-only but had common ownership with Camarda Consultants, which was not fee-only.  According to court documents the couple filed a lawsuit against the board in 2013, after attempting to appeal the disciplinary action through the CFP Board’s internal procedures.  

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

 

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