The advisors argued the firm had reported 'inaccurate' information on their CRDs, making it difficult for them to find new work in the industry.
Firm upgrades the team tasked with driving data science and analytical insights to help its advisors run more efficient businesses.
Perhaps unsurprisingly brokers are choosing to start or join RIAs because they want more control and better compensation.
In a letter Tuesday, the American Securities Association accused the CFP Board of subverting the SEC's authority.
The online RIA counts $10 billion in assets and bolsters its marketing division.
Daryl Davis also told a potential client his firm was registered with the SEC when it was not, according to the charges.