Three advisors have had their rights to use the Cerrtified Financial Planner Board of Standards mark permanently revoked, one because he misrepresented his compensation method as fee-only when he in fact received commissions, the CFP Board announced.

The disciplinary action announced earlier this year comes in the wake of a years-long controversy over which advisors can use the fee-only designation to describe their copensation method. A Federal Court Judge in Washington recently ruled the board is a private entity that has a right to enforce its own rules regarding the use of the "fee-only" tag among its certificate holders as it sees fit.

A total of 23 CFP certificants were disciplined by the board. (The CFP website allows the public to research the background of CFP designees.)

Joseph M. Browne of Jacksonville Beach, Fla., has had his right to use the CFP designation permanently revoked because he failed to answer a complaint by the board that he used the fee-only designtion when he received commissions for insurance sales, the CFP Board said.

Browne says he relinquished his CFP designation before the board took action, so the revokation was meaningless to him.

Michael T. Sullivan of Mooresville, N.C., had his right to use the CFP designation revoked because he failed to answer a complaint that he recommended and sold variable annuities to his clients that were unsuitable for them and not in their best interests; made the clients pay both commissions and assets under management fees on a variable annuity; and allowed an investment advisor to make unsuitably risky investments in his financial planning clients’ variable annuity, the CFP Board said.

Michael A. Zolondek of Mauston, Wisc., has had his right to use the CFP designation revoked because he failed to answer a complaint that he helped employees or contractors cheat on Life Underwriter Training Course examinations, the CFP Board said,

Others advisors were disciplined by having their right to use the CFP mark revoked for a period of time:

Roy Dwane Johnson, Raceland, Ky., four years.
Scott A. Brooks, Edgewood, Ky., one year and  one day.
Charles E. O’Hara, Newport, R.I., one year and one day.
Brett Fellows, Mt. Pleasant, S.C., one year and one day.
Kevin M. Nevin, St. Louis Park, Minn., one year.
Candy J. Lee, Seattle, nine months.
Swan S. Shen, Andover, Mass., six months.
Robert A. Magliulo, Manhasset, N.Y., six months.
Jacqueline H. Thornhill, Las Vegas, three months.

The following recieved interim suspensions pending an investigation:
David L. Gabai, West Hills., Calif.
Jamie D. Pope, Winter Park, Fla.
Ronald W. Vaught, Melbourne., Fla.
F. Christopher Piatt, Bloomington, Minn.