Washington, D.C. - The Certified Financial Planner Board of Standards is proposing to require individuals who want to become a CFP to prepare an integrated, written financial plan and present it, and is seeking public comment on the proposed addition. The course requirement would require those seeking to attain CFP certification to prepare a written and comprehensive financial plan and have their performance assessed based on the written plan and an oral presentation of it.

As proposed, the new requirement would require financial planning education programs registered with the CFP Board to offer a financial plan development course no later than January 2012.

The proposal can be found at Comments on the proposal may be sent to the CFP Board no later than Oct. 2, 2009.


Andover, Mass. - NewRiver Inc. has introduced FundPoint Desktop for 529 Plans, a desktop software product designed to manage multi-layered 529 college savings plan information.

The program offers a centralized approach to accessing 56 different data points for education plans. Financial advisors can perform plan-to-plan comparisons, conduct share-class suitability analysis, communicate breakpoints to clients, provide disclosures, and calculate all tax advantages, fees and commissions.

Favorable tax legislation and rising college costs have spurred a revival of 529 college savings plans largely because of their tax-free treatment, lack of eligibility restrictions, and total donor control. Consequently, competition has intensified as 529 plan providers scramble to add new product features, lower their fees, and upgrade investor benefits. The regulatory environment has also changed as the Municipal Securities Rulemaking Board has adopted rules and regulations for 529 plans that are comparable to practices pertaining to sales of mutual funds.

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