The CFP Board of Standards has permanently revoked the rights of three financial advisors to use the CFP designation, the Board announced Tuesday.

The right of James W. Smith of Creve Coeur, Mo., to use the CFP designation was revoked because he gave inappropriate advice to and overcharged a client. Smith recommended a retired client purchase a variable annuity and an equity-indexed annuity even though the client’s portfolio already contained three variable annuities. He also recommended the client pay for a guaranteed income rider that she could not access for 10 years, the Board said.

Smith also charged the client a 2 percent management fee over a five-year period in addition to a commission on the sale of the annuities. The actions violated the Board’s Code of Ethics and Standards.

Two other advisors’ rights to use the CFP mark were revoked because they declared bankruptcy and demonstrated a continued inability to manage their personal finances, the Board said.

William Scott Bray of Monterey, Calif., and Linda S. Cornish of Santa Clara, Calif., can no longer use the CFP designation. Bray filed for Chapter 7 bankruptcy in 1993 and Chapter 13 bankruptcy in 2010. Cornish filed for bankruptcy three times since 1994.