The CFA Institute is suing the American Retirement Association and its affiliates for trademark infringement of its CFA mark. At the center of the dispute is ARA’s Certified Plan Fiduciary Advisor (CFPA) designation, launched in 2016.

CFA Institute filed the lawsuit Friday in U.S. District Court in Virginia, alleging that ARA and its affiliates are violating the Federal Trademark Act and Virginia’s trademark infringement statute and common law with the CFPA designation.

“Before filing the complaint, CFA Institute made good faith efforts to resolve the matter amicably with the ARA and its sister organizations,” CFA Institute General Counsel & Chief Legal Officer Sheri Littlefield told Financial Advisor Magazine.

When those efforts failed, “CFA Institute…brought suit against the American Retirement Association and certain affiliated parties for unfair competition, and infringing on the CFA designation trademark with its designation CPFA,” Littlefield said.

“We vigorously defend our trademarks and strongly believe that this designation creates confusion in the marketplace, Littlefield said.

CFA Institute, which administers the CFA program of self-study for investment professionals, has 147,000 members in 150 countries worldwide and has continuously used the CFA Trademarks in since 1962, the group said.

“The CFA Program sets the global standard for investment knowledge, standards and ethics, and is highly esteemed worldwide,” the lawsuit states.

“Defendants use and intend to use the Infringing Mark without the authorization of CFA Institute, thereby confusing consumers as to the source of the goods and services and resulting in damage and detriment to CFA Institute and its reputation and goodwill, and harm to its authorized CFA charterholders,” the lawsuit alleges.

ARA’s CEO Brian Graff expressed “shock and disappointment” over the lawsuit and said that the two groups have been working toward a resolution since ARA filed for the CPFA trademark in 2016.

“We have been operating under the assumption that the administrative tribunal of the U.S. Patent and Trade Office would come to a resolution fairly soon,” Graff said. “I’m fairly shocked and somewhat disappointed that they [CFA Institute] chose to circumvent that process and file a lawsuit.”

“We certainly think the industry is better off not spending time on things like this and rather dealing with important issues of the day like helping investors save money. So we also hope this will be resolved amicably.”

Said Graff: “We filed the trademark request in 2016 and fairly quickly CFA Institute raised the objection.” The groups have been working to settle the matter through the U.S. Patent and Trade Office’s administrative tribunal ever since.

Approximately 4,000 advisors have obtained the CPFA designation since the program was launched in 2016.

“Our CPFA program is very specifically designed for advisors who want to work as fiduciaries with 401k plan sponsors and participants, which we think from a policy perspective is an important thing since most Americans save through their 401(k)s,” Graff added.

“We believed we were resolving this matter amicably through the tribunal, and that is still our hope, but we vigorously disagree with the allegation that the CPFA name and program creates any market confusion with the CFA name and program,” Graff said.