Written by attorneys · grounded in primary & secondary sources — see below
An abbreviation for Certified Financial Planner, the credential awarded by the Certified Financial Planner Board of Standards to individuals who complete required coursework, pass a comprehensive examination, and satisfy experience and ethics standards. The designation signals specialized competence in personal financial planning. Truthful use of the letters in professional advertising receives First Amendment protection as commercial speech.
Cassandra Cooper, a Florida attorney also licensed as a CPA, places the letters CFP beside her name in a yellow-pages advertisement and on her office stationery. The state Board of Accountancy reprimands her and seeks to impose discipline solely because she used the designation. The court concludes that the accurate, verifiable statement is protected commercial speech and that the Board has failed to show the listing is actually or inherently misleading.
Cynthia Cortez, a licensed attorney and Certified Financial Planner, includes the CFP designation on her business cards and website. State regulators announce a policy barring any attorney from advertising the credential. The court invalidates the policy because the statements are truthful and the state offers no evidence that the designation misleads the public or requires a disclaimer reasonably related to preventing deception.
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Yes. When the lawyer's certification is current and the statement is truthful and verifiable, the First Amendment protects the advertisement as commercial speech. A state may not discipline the lawyer absent proof that the designation is actually or inherently misleading.
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A state may require a disclaimer only if it is reasonably related to preventing actual or inherent deception. Blanket disclaimer mandates or outright bans on the truthful use of the designation violate the First Amendment.
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The state must demonstrate that the particular use is actually misleading or that the letters are inherently misleading in the context presented. Mere speculation or a general concern about public confusion is insufficient.
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…Financial Planner Board of Standards, a private organization, to use the trademarked designation “Certified Financial Planner” (CFP). Ibanez referred to these credentials in her advertising and other communication with the public. She placed CPA and CFP next to her name in her yellow pages listing (under “Attorneys”)…