UBS' Americas unit benefited from a swift uptick in client transactions in April, but that activity has since subsided, CEO Sergio Ermotti told analysts.

Certified financial planners will pay an additional $120 a year for the CFP designation, starting in October. The CFP board said the fee hike will help fund expanded advertising efforts.

Adoption of these applications has grown exponentially, but some advisors and attorneys say caution is warranted.