Mr. Michael J. Corbett, CFP®

HJ Sims

https://hjsims.com/wp-content/uploads/2021/06/Michael-Corbett-Bio-Final-PDF-2021.pdf
(952) 683-7504

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(952) 683-7504

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professional profile

Year CFP® Certification Received

2011 | view current certificate

Planning Services Offered

Estate Planning
Retirement Planning
Tax Planning
Insurance Planning
Comprehensive Financial Planning
Investment Planning

Languages

English

Payment Options

When hiring a CFP^{®️️️️️️️️} professional, it's important to ask how your advisor expects to be paid for services rendered. Different financial advisors may charge differently, or one financial advisor may offer several different ways that clients can choose to pay.

Understanding Payment Models

Disclosures

CFP Board Public Disciplinary History

Effective Date: 3/18/2021

In March 2021, the Disciplinary and Ethics Commission (Commission) and Mr. Corbett entered into a Consent Order pursuant to which Mr. Corbett received a Public Censure. In the Consent Order, Mr. Corbett consented to findings that he was terminated from his firm in 2019 for failing to follow the required signature guarantee protocol, which two regulators inquired about. Mr. Corbett admitted to applying a signature guarantee stamp to a client’s annuity distribution form when the client was not present. Under the signature guarantee stamp policy, Mr. Corbett could only apply the signature guarantee stamp when he was physically present at the time the client signed the document. As a result of Mr. Corbett’s misuse of the signature guarantee stamp, the carrier rejected the annuity distribution form and the client was unable to surrender the annuity prior to the annuity owner’s death, when the value of the annuity was higher than after the annuity owner’s death. Mr. Corbett also consented to a finding that he made a misleading statement to CFP Board when he failed to disclose his termination or regulatory investigations in response to questions on his Ethics Declaration form. Pursuant to the Consent Order, Mr. Corbett also consented to findings that his conduct violated Rules 4.4, 5.1, and 6.2 of the Rules of Conduct, providing grounds for the sanction imposed. Accordingly, the Commission issued to Mr. Corbett a Public Censure.

Disclosure Under CFP Board’s Prior Bankruptcy Disclosure Procedures
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Until June 30, 2020, CFP Board made public disclosures about CFP® professionals who had filed a personal or business bankruptcy. These were disclosures and not disciplinary actions or sanctions. These disclosures stay on CFP Board’s website for 10 years. There are more details below on this page.

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Disclosure Information

CFP Board makes available information that a CFP® professional has provided about his or her practice. CFP Board also provides information about any CFP® professional that CFP Board has publicly disciplined or any professional who made a bankruptcy disclosure to CFP Board (more details about bankruptcy below). We cannot guarantee the information the CFP® professional has provided is accurate or complete. You should verify the accuracy of the information yourself.

While the information on this website may be useful to you, there may be more information from other sources you will need or want. Provided below are links to other sources of information about CFP® professionals that may be more recent or that may contain information that has not led to CFP Board discipline and does not appear on CFP Board’s website. The information may include customer disputes, disciplinary actions taken by a regulator or employer, certain criminal matters, and certain financial matters (such as bankruptcy proceedings and unpaid judgments or liens). The links provided below may provide additional information only if the CFP® professional is subject to the oversight of that regulator or SRO. If the CFP® professional is not subject to their oversight, then the link will not provide access to any additional information about that person.

You can find information about CFP® professionals who are subject to Financial Industry Regulatory Authority (FINRA) or Securities and Exchange Commission (SEC) oversight through FINRA’s BrokerCheck and the SEC’s Investment Adviser Public Disclosure databases. Both are free tools you can use to conduct research.
Visit your state securities regulator’s website for more information about brokers and investment advisers and your state insurance department website for more information about insurance professionals.
Visit the Office of the Comptroller of the Currency (OCC) website to search for enforcement actions against individuals who are subject to OCC oversight.
Conduct an Internet search on the CFP® professional’s name (and business name).

About Bankruptcies

Effective June 30, 2020, CFP Board may publicly sanction a CFP® professional for a personal or business bankruptcy that violates CFP Board’s Code of Ethics and Standards of Conduct. (There is no violation if the CFP® professional can make a case that the bankruptcy does not reflect on the professional’s ability to responsibly manage his or her own financial affairs or the financial affairs of the business.) You can find public sanctions in the “CFP Board Public Disciplinary History.” Under the “Prior Bankruptcy Disclosure Procedures” that applied from July 2012 – June 2020, CFP Board published information about a CFP® professional’s verified single bankruptcy in a press release and on CFP Board’s website. These were disclosures, not discipline or sanctions, and remain on CFP Board’s website for 10 years. You may learn more about the disclosure procedures here. You can learn more information about a bankruptcy filing at the U.S. Court’s website. You will be required to register and pay a nominal fee to view the information on that website.