Regulatory Information

Ms. Lamb is a Certified Financial Planner™. The Certified Financial Planner™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”).

The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP® certification in the United States.

To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:

• Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;

• Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;

• Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and

• Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:

• Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and

• Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients.

CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.

The requirements for the Certified Trust and Financial Advisor (CTFA) designation are designed to:

• Establish a recognized standard of knowledge and competence for the trust and wealth advisory field

• Formally recognize those who meet these standards

• Provide employers and clients with a tool to identify skilled, knowledgeable professionals

• Support the benefits of professional continuing education and development

An individual must meet the following prerequisites to qualify to take the CTFA certification examination:

1. Professional Experience and Education

A minimum of three (3) years experience in wealth management as well as completion of an ICB-approved wealth management training programs

• Five (5) years experience in wealth management and a bachelor's degree, or

• Ten (10) years experience in wealth management

2. Professional Reference

One letter of recommendation is required attesting to an individual’s qualifications for certification, including the individual’s wealth management experience and ethical character.

3. Ethics Statement

Each candidate must sign the Institute of Certified Banker's (ICB) Professional Code of Ethics statement.

4. Application

An individual must complete and submit and meet the eligibility requirements.

Maintenance requirements

To maintain a CTFA in good standing, an individual must adhere to ICB's Professional Code of Ethics, pay an annual fee, and complete 45 credits of continuing education every three years, with a minimum of six hours in each of four knowledge areas. In addition, an individual is required to complete three continuing education credits in Ethics.