CFP Board Proposes Changes to Code of Ethics and Standards of Conduct

 

 CFP Board pic

CFP Board
Image: cfp.net

Brian Stertzer of Hilton Head, South Carolina, leads a division of WealthStone, Inc., that invests more than $550 million in assets under management. An accomplished financial advisor, Brian Stertzer has earned the Certified Financial Planner designation from the CFP Board.

In an effort to improve clarity in its Code of Ethics and Standards of Conduct, the CFB Board announced in June of 2017 that it has proposed changes to its standards concerning fiduciary duty and sales-related compensation. The changes, which come in response to developments in the regulatory environment, aim to help Certified Financial Planners determine how they should deliver financial planning.

In respect to fiduciary duty, the CFB Board has recommended that this duty should extend to instances when a CFP designee is providing financial advice. Currently, the standard applies only when a designee is providing financial planning. In essence, the revised standard requires a CFP holder to operate as a fiduciary at all times and not only in certain cases.

The second proposed change seeks to remove ambiguity about the term “fee based,” which some financial professionals use when discussing compensation that consists of both commission and a fee. While not forbidding use of the term, the CFP Board advises that a CFP designee should instead describe this type of compensation as “fee and commission.” If a designee does elect to employ the term “fee based,” he or she should make clear to the client that any compensation received does not come exclusively from a fee.

The proposed changes mark the first time since 2009 that the CFP Board has updated its Code of Ethics and Standards of Conduct. The board expects to institute the revisions by the close of 2017.

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FCA – How to Hold a Dodge Ball Charity Tournament at Your School

Fellowship of Christian Athletes pic

Fellowship of Christian Athletes
Image: fca.org

The managing director of WealthStone Inc.’s asset management division, Brian Stertzer provides investment services to over 300 clients across the United States. A supporter of community faith-based organizations, Brian Stertzer supports Hilton Head, South Carolina-based Lowcountry FCA, a chapter of the Fellowship of Christian Athletes.

FCA is an organization that seeks to positively impact the world through faith and sports. The organization encourages members to hold outreach programs in support of community causes and charities. One way junior members can do this is by hosting an all-school dodge ball tournament. Here’s how to organize one:

Identify a cause or charity you would like to support. Consider a cause that many of the students in your school can relate to personally. This will inspire many of them to participate. Next, determine the details of the game. Decide how many students each dodge ball team will have, how many girls and boys per team, who will referee the games, where the tournament will be held, and for how many days it will run. Teachers make good referees, and a good location for the first tournament could be the school gym.

Decide how much money each team will contribute and hold sign-ups to register the participating teams and collect their contributions. Meanwhile, spread the word about the tournament using posters, flyers, banners, and on social networks. Finalize the signups then hold the tournament. Make it as fun as possible. You can maximize contributions by holding pastry sales during the tournament or asking a local financial institution to match the total donations.

Hilton Head Island Rotary Club – Youth Scholarships

Hilton Head Island Rotary Club pic

Hilton Head Island Rotary Club
Image: hiltonheadrotary.org

A graduate of Capital University with a bachelor’s in accounting and economics, Brian Stertzer serves as managing director of asset management at WealthStone. Brian Stertzer remains active in his community of Hilton Head, South Carolina, and contributes to the Hilton Head Island Rotary Club, which offers a number of scholarships to local youth.

The Hilton Head Island (HHI) Rotary Club provides scholarships to both home-schooled students and students graduating from high school on Hilton Head Island. The organization evaluates applicants based on academic performance, participation in extracurricular clubs and sports, and community service both in and out of school.

Students must submit a 500-word essay detailing what makes them stand out among their peers and why they deserve consideration for a scholarship. The HHI Rotary Club also provides the Norman Reeves scholarship to students who plan to study engineering or a related subject. Those interested in this scholarship can submit the same application used for the general scholarship, and all applicants must submit their application electronically as an attachment.

Projects at the Hilton Head Rotary Club

WealthStone, Inc Armada pic

WealthStone, Inc Armada
Image: wealthstonearmada.com

A resident of Hilton Head Island, South Carolina, Brian Stertzer has served WealthStone, Inc., as managing director of asset management for the last decade. Among his many accomplishments at the firm, Brian Stertzer helped unveil the new WealthStone Armada service in 2010.

Recognizing an emerging market for multi-discretionary investment consultants, WealthStone created the Armada service to help its clients better manage their asset portfolios. As an example, this solution benefits those seeking to employ a team of advisors for the investment of earnings from a recent business sale. These individuals may seek the help of multiple investment advisors with different expertise for such reasons as lowered hedge risk. The WealthStone Armada solution helps clients accomplish these goals with a number of unique client benefits.

Through the Armada Advisor Selection process, clients not only use their own preferred consultants, but they can also pull from WealthStone’s array of approved specialists. In addition, Armada facilitates the request for proposal (RFP) process for its clients. Requiring sample portfolios and questionnaire completion from each advisor helps in ensuring the competence of the team. Armada’s Universal Investment Policy statement also offers greater team accountability by carefully controlling spending and emphasizing risk-adjusted returns over simple returns.

FCA 2015 Camp Season Attracts Nearly 100,000 Campers

 

 Fellowship of Christian Athletes (FCA) Image: lafca.org

Fellowship of Christian Athletes (FCA)
Image: lafca.org

A resident of Hilton Head, South Carolina, Brian Stertzer serves as the managing director of asset management at WealthStone, Inc., a financial-planning and investment advisory firm that consults with individual and institutional clients throughout the United States. Outside of his activities at WealthStone, Brian Stertzer dedicates his time and resources to several local and national organizations, including the Fellowship of Christian Athletes.

Since 1956, the Fellowship of Christian Athletes (FCA) has overseen a camp ministry that brings together thousands of coaches and athletes from around the world. FCA Camps combine athletic and spiritual activities and give attendees the opportunity to develop their sports skills, make new friends, and strengthen their spiritual commitment.

During the 2015 camp season, 619 FCA Camps were held in 41 U.S. states and 36 countries. A record-breaking year, 2015 saw over 94,000 individuals attend FCA Camp, and nearly 10,000 of this year’s campers made a first-time commitment to Christ. For additional information about the FCA’s camp ministry, visit www.fcacamps.org.