Applicants for any category of membership (成员) or affiliation (Affiliates) with NAPFA must meet the following standards to be considered for admission, and must continue to abide by such standards in order to maintain eligibility and good standing in NAPFA.
NAPFA defines a Fee-Only financial advisor as one who is compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product. 会员和附属公司均不得收取佣金, 退税, 奖, 仪的费用, bonuses or other forms of compensation from others as a result of a client’s implementation of the individual’s planning recommendations. “Fee-offset”安排, 12 b - 1的费用, insurance 退税 or renewals and wrap fee arrangements that are transaction based are examples of compensation arrangements that do not meet the NAPFA definition of Fee-Only practice. 如果你对具体的薪酬安排有疑问, 请联系NAPFA会员经理.
Trailing commissions are Sales-Related Compensation that would prevent a NAPFA member from representing their or their firm’s compensation method as “Fee-Only.“然而, there is a limited circumstances where NAPFA would find that a potential NAPFA member who refers to their or their firm’s compensation method as Fee-Only, 尽管已收到延期佣金. 更具体地说, 如果没有其他与销售相关的补偿, and the applicant: (a) requests a transfer or assignment of the Financial Assets paying trailing commission to a person or entity that is not a Related Party; (b) contacts the entities paying the trailing commission that may not be so transferred and requests that these entities discontinue paying any trailing commission; and (c) donates any and all remaining trailing commission to a 501 c(3) charity. 在这种情况下, NAPFA would find that a member applicant who refers to their or their Firm’s compensation method as fee-only is not making a false or misleading representation about compensation method. 如果他们有资格成为NAPFA会员, this would not exclude them from NAPFA membership if the above conditions were met and they agreed to the following:
- To submit documentation showing that the full amount of trails received was donated to charity (this includes a statement of the trails compensation and a receipt of the charity donation in matching amounts).
Neither a Member nor an Affiliate may own any interest in or be employed by a financial services industry firm (see definition below) that receives commissions, 退税, 奖 or any form of compensation prohibited by the NAPFA Standards of 成员hip or Affiliation. A party related (see definition below) to a member or an affiliate may not own an interest in a financial services industry firm (see definition below) that receives commissions, 退税, 奖 or any form of compensation prohibited by the NAPFA Standards of 成员hip or Affiliation; and to whom the member or affiliate makes referrals or otherwise directs business. "Related party" means a business colleague or family member with whom a Member or Affiliate shares income or economic benefits. 关联方可能包括, 但不限于, 会员或附属公司的业务伙伴、官员或董事, 或者配偶, 家长, 受抚养未成年子女, 仍然住在家里的成年子女, 或其他依赖. "Financial services industry firm" includes any entity or individual that offers any type of financial service, e.g., 证券经纪人或交易商, 投资顾问, 资产管理公司, 投资公司, 金融机构, 储蓄机构, 信托公司, 抵押贷款银行, 信用合作社, 储蓄贷款协会, 保险经纪人、经销商或代理人, 房地产经纪人或代理, 商品经纪人或交易商或代理人. An individual who has a question about the application of the above prohibitions to his or her situation may submit a written inquiry to the NAPFA 成员hip Committee for determination. The procedures outlined under item 1 above concerning review of compensation arrangements are similarly applicable to inquiries concerning ownership and employment situations. Applicants for initial membership or affiliation with NAPFA who have questions concerning ownership and/or employment arrangements are advised to make inquiry to the 成员hip Committee 在提交完整的申请表格之前.
- 必须遵守NAPFA道德准则, 会员标准和隶属关系, 规章制度, resolutions adopted by the Board and all 规则 set forth in the NAPFA Policies and Procedures Manual.
- 同意遵守所有联邦和州法规, 规则, 规定, 行政和司法裁决, and other authorities applicable to the provision of financial planning or advisory related services.
- 同意他们将提交所有适当的文件, 对监管部门要求的文件进行适当的修改和更新. 这应包括但不限于表格ADV. 作为NAPFA成员的条件, 任何和所有表格ADV文件可由会员专责小组审查.
成员 and Affiliates have a continuing obligation to inform the NAPFA National Office, 以迅速的方式和书面形式, 重大的纪律和法律事件. 这些事件包括但不限于以下事件:
- 任何纪律调查或诉讼发起的任何联邦, 州或地方民事或刑事当局或监管机构, including any inquiry or proceeding relating to the firm with which the individual is associated;
- any disciplinary inquiry or proceeding initiated by a credentialing or membership organization or authority to which the individual is subject, e.g.，注册财务规划师标准委员会，国家公共会计委员会;
- 任何破产, 破产管理, or other type of assignment or arrangement for the benefit or protection of creditors of the individual or any entity in which the individual holds an interest of 5% or more.
NAPFA reserves the right to decline membership if the applicant has failed to comply with statutes or 规定 governing the profession, or has been unsuccessful in the defense of civil claims arising from professional services, 除非这种违反或索赔不是重大的.