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

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