Archived Story

Millard accepted into NAPFA

Published 2:59pm Friday, October 26, 2012

C. Andrew Millard of Millard & Company in Tryon has been accepted for membership in the National Association of Personal Financial Advisors (NAPFA). With membership, Millard becomes affiliated with an organization of more that 2,400 of the most-qualified financial advisors in the nation who deliver objective, fee-only advice.

Membership in NAPFA and the NAPFA-Registered Financial Advisor designation are available only to fee-only financial advisors who meet NAPFA’s stringent membership qualifications. Those standards require advisors to receive compensation only directly from their clients, to act in clients’ fiduciary interest at all times, and to provide comprehensive planning services. In addition, NAPFA has some of the industry’s most rigorous education and training requirements. All candidates for membership are required to submit a complete comprehensive financial plan for a full-scale peer review. Furthermore, NAPFA’s continuing education requirements exceed those of any other association of financial advisors.

“I congratulate Andy for demonstrating his intention to provide transparent, client-centered services by making a commitment to uphold the high standards NAPFA sets for all its members,” said NAPFA Chair Lauren Locker.

In contrast to most financial professionals, NAPFA members receive no commissions or other rewards for selling financial products. Those forms of compensation create potential conflicts of interest that may serve to undermine an advisor’s objectivity and fiduciary responsibility. It is for this reason that all NAPFA members must sign the Fiduciary Oath that explicitly promises to “to place the clients’ interests first.”

Locker continued: “NAPFA is leading the charge toward the development of a financial services community that rivals other professions in its desire and ability to foster trust by offering true fiduciary-level care to our clients. We welcome Andy to our ranks and look forward to his contribution to our organization.”

For more information about fee-only financial planning and NAPFA, visit www.napfa.org or call 1-800-366-2732.

– article submitted by Andy Millard

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