What CFP® Professionals Need to Know
What You'll Learn
Diminished financial capacity doesn’t come all at once. It can show up at any age, it can come and go, and it often appears in a client’s finances years before any diagnosis. CFP Board’s new Guide to Planning for and Managing Diminished Financial Capacity in Clients (November 2026) also brings…
Tom Dickson
Financial Experts Network
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Diminished financial capacity doesn’t come all at once. It can show up at any age, it can come and go, and it often appears in a client’s finances years before any diagnosis. CFP Board’s new Guide to Planning for and Managing Diminished Financial Capacity in Clients (November 2026) also brings two new planning requirements. Each one takes effect one year after a CFP® professional completes the CFP Board Ethics CE course, which runs from January 2027 through December 2028.
In this webinar, Michelle Atlas-Quinn, JD goes through the guide step by step. She covers what to put in place before capacity is in question and what to do once it is. Because the Duty of Confidentiality has no built-in exception for diminished capacity, a planner who hasn’t prepared may have very few options when a concern comes up. Michelle shows how to prepare early so you can act when it matters.
You’ll learn how to:
- Meet the two new requirements: offering clients the chance to name trusted contacts, and recommending an estate plan that includes a durable financial power of attorney
- Explain what a trusted contact can and can’t do, and compare general, durable and springing powers of attorney
- Spot the red flags of diminished capacity and the warning signs of financial exploitation
- Respond to a concern: talk with the client, confer with trusted contacts, adapt how you communicate, and weigh protective actions
- Work within the Senior Safe Act, FINRA Rules 2165 and 4512, and state reporting laws
- Tie each step back to your duties under the Code and Standards (Loyalty, Care, Competence, Confidentiality and Scope of Engagement), and document it properly
The session ends with four case scenarios: the new helper, the urgent call, the relative with new papers, and the solo ager. Each one shows how a CFP® professional can prevent, detect and respond to financial exploitation.
Who should attend: CFP® professionals and other financial advisors who work with aging clients, their families, or anyone who may one day need help making financial decisions.