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Mr. Alan Goldfarb

Mr. Alan Goldfarb

Financial Strategies Group

http://www.XOWealth.com
(469) 844-8067
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professional profile

Year CFP® Certification Received

Client Focus

  • Retirees
  • Widows/Widowers

Planning Services Offered

  • Comprehensive Financial Planning
  • Investment Planning
  • Education Planning
  • Retirement Planning
  • Retirement Income Management

Your Minimum Investable Assets

  • $500,000

Languages

  • English

Disclosures

CFP Board Public Disciplinary History

Effective Date: 6/17/2013

In April 2013, following a review by CFP Board’s Ad Hoc Disciplinary and Ethics Commission (Ad Hoc Commission), CFP Board issued a Letter of Admonition to Mr. Goldfarb. The Ad Hoc Commission determined that Mr. Goldfarb misrepresented his compensation, first as “fee-only” and later as “salary,” on an online financial planner database. CFP Board’s Terminology Section of its Standards of Professional Conduct (Standards) states that compensation is “any non-trivial economic benefit” that a “[CFP® professional] or related-party receives or is entitled to receive for providing professional activities.” Further, under the definition of “fee-only” in the Terminology Section, a CFP® professional may describe “his or her practice as ‘fee-only’ if, and only if, all of the [CFP® professional]’s compensation from all of his or her client work comes exclusively from the clients in the form of fixed, flat, hourly, percentage or performance-based fees.” CFP Board’s definitions of “compensation” and “fee-only” prohibit a CFP® professional from referring to his or her practice as “fee-only” if any of the compensation received by the CFP® professional and any related-party, such as the CFP® professional’s employer, is comprised of compensation other than the types of fees identified in CFP Board’s definition of “fee-only.” The Ad Hoc Commission determined that Mr. Goldfarb was an employee and part owner of a registered investment adviser (RIA), registered with the Securities and Exchange Commission, and that Mr. Goldfarb was a registered representative and part owner of a broker-dealer affiliated with the RIA. Based on public regulatory filings and information received from Mr. Goldfarb, the Ad Hoc Commission determined that the RIA and the broker-dealer received or were entitled to receive compensation such as commissions and 12b-1 fees. Therefore, the Ad Hoc Commission determined that Mr. Goldfarb misrepresented his compensation model as “fee-only” because he and/or his employer received or were entitled to receive compensation that did not come from clients exclusively in the form of fixed, flat, hourly, percentage or performance-based fees. In addition, the Ad Hoc Commission determined that when Mr. Goldfarb changed his compensation method from “fee-only” to “salary”, “salary” was not “an accurate and understandable description of the compensation arrangements being offered,” as is required by the Standards. The Ad Hoc Commission determined that Mr. Goldfarb’s clients paid commissions and/or fees and not a salary for services rendered by Mr. Goldfarb and/or his employer. The Ad Hoc Commission determined that Mr. Goldfarb’s conduct violated Rules 2.1, 2.2 and 6.5 of CFP Board’s Rules of Conduct, providing grounds for discipline pursuant to Article 3(a) of CFP Board’s Disciplinary Rules and Procedures. Accordingly, the Ad Hoc Commission admonished Mr. Goldfarb with regard to the above-mentioned conduct.

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.

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  • 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.
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  • 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.