Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Transparency In Financial Advising

6 Mar 2024 · 1 min

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A short YouTube video by Richard Canfield criticizing the Certified Financial Planner (CFP) Board’s educational focus: the speaker claims the Board’s sole textbook emphasizes the psychology of sales, which promotes persuasive tactics over truthful advising and contributes to high industry turnover and public distrust. The clip is a critique of industry training and advisor behavior.

Chapters

The only textbook published by the board of Certified Financial Planners in the United States is a book, a textbook on the psychology of sales. I mean, yes, this professional financial advisory board and their one educational textbook is on the psychology of sales. It's like, and then you wonder why there's high turnover in finance and why people have a negative opinion of financial advisors. Maybe they should. Maybe you're spending all your time trying to mind trick them into how to, like, say yes at the right time, rather than just telling them the truth of the matter and letting that do the job.