The Financial Planning Association Creates the FPA of Metro New York After Split-Up from Its New York Chapter

Posted on August 29th, 2018 at 4:01 PM
The Financial Planning Association Creates the FPA of Metro New York After Split-Up from Its New York Chapter

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Financial Planning Association (FPA) has established a new group intended to take over the responsibilities and membership of the FPA of New York.

The new group, the FPA of Metro New York, is in the process of establishing a board of directors. The FPA created the FPA of Metro New York after it split from its New York chapter, the New York FPA, due to infighting among its board of directors. According to the FPA, certain board members engaged in self-dealing via an improper client-solicitation scheme.  Moreover, the infighting among the FPA and the FPA of New York had reached a level of dysfunction, requiring the FPA to sever ties.

According to the recent announcement, the FPA of Metro New York will operate as a “subset” of the FPA, as opposed to most FPA chapters which exist as separately incorporated nonprofit entities.

The FPA of New York as a legal entity still exists, however, the group is unable to do business on behalf of the FPA. As a result, with no support from the FPA, it is predicted that the FPA of New York may dissolve.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. 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.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, metro new york, fpa

Return to Archive

TESTIMONIALS

Previous
Next

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

September 22, 2023
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.

September 21, 2023
SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, with
inadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.

September 20, 2023
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).