Certified Financial Planner (CFP) Exam 2026 – 400 Free Practice Questions to Pass the Exam

If Herb suspects that his previous investment advisor took higher commissions, the best course of action is to gather evidence and consult an attorney. This approach allows Herb to collect relevant documents, statements, and records regarding the advisor's actions and the commissions charged. This evidence will be crucial in assessing whether there has indeed been unethical or illegal behavior.

Consulting with an attorney is important as it provides Herb with legal guidance on his rights and options. An attorney can help him understand the potential implications of the advisor's actions and the appropriate steps to take next, including whether to pursue legal action, file a complaint, or negotiate a resolution.

Taking legal action immediately without any evidence or consultation could be premature and could lead to unnecessary complications or expenses. Reporting to the CFP Board or confronting the advisor directly may also not be effective without first establishing a clear basis for the claims with solid evidence. Thus, gathering evidence and seeking legal guidance forms a strong foundational step before taking further action.