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

What truly drives financial advice?

27 Mar 2026 · 1 min

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A CPA and CFP who founded his practice in 1979 explains how he came to see the financial planning industry differently. He got his CFP in 1984 thinking it was about education, but realized the credential's real purpose was gathering assets under management to generate fees.

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I graduated college in 1974, started working for the 9th largest CPA firm, then started my own CPA firm in 1979. But people didn't understand money. I also realized I didn't either. I immediately said, okay, well, what are we going to do here? I got into being a CFP, Certified Financial Planner, in 1984. I thought that this was the best thing since sliced gold. It was good for me because it would help me educate myself and and educate people. Many years later, I found out that was nothing more than an organization set up to accumulate money to be put under management for fees.