Dresher-based Certified Financial Planner Fred Rouse III was barred by the CFP Board because he allegedly made misleading statements on his website and in a YouTube video.
According to Financial Advisor IQ, Mr. Rouse made comments that someone could be “100% certain” to save all that they needed for retirement in “Just 3-5 Years,” according to an announcement the board released this week.
PRNewsWire publised the following about Mr. Rouse:
In September 2022, CFP Board issued an administrative order permanently barring Mr. Rouse from applying for or obtaining the CFP® certification marks. This sanction followed Mr. Rouse’s relinquishment of his certification and failure to file an Answer to CFP Board’s Complaint within the required time frame. CFP Board alleged that Mr. Rouse made misleading statements, such as claiming that individuals could be “100% certain” to have all the money they needed to retire in “Just 3-5 Years,” on his website and in a YouTube video created to advertise his retirement planning program. CFP Board further alleged that the YouTube video, which targeted individuals in their fifties and sixties with underfunded retirement savings, was misleading because it appeared to be a news broadcast although it was, in fact, a paid advertisement. Mr. Rouse also failed to provide information requested by CFP Board in connection with its investigation. CFP Board’s Complaint alleged that Mr. Rouse violated: (i) Standard A.2.b.ii. of the Code of Ethics and Standards of Conduct by making misleading statements in the conduct of professional services; and (ii) Standard E.5 of the Code of Ethics and Standards of Conduct by failing to cooperate with CFP Board’s investigation. Mr. Rouse failed to file an Answer to CFP Board’s Complaint within 30 calendar days of the date of service, as required by Article 3.2 of the Procedural Rules. Under Article 4.1.b. of the Procedural Rules, Mr. Rouse has been deemed in default, and CFP Board issued an Administrative Order of Permanent Bar. Mr. Rouse’s administrative permanent bar was effective as of October 20, 2022.