Spring is going to be quite busy," says Marilyn Morhman-Gillis, managing director of public policy for the Certified Financial Planner (CFP) Board of Standards. The Financial Planning Coalition—which includes the CFP Board, the Financial Planning Association, and the National Association of Personal Financial Advisors (NAPFA)—is "still digesting the [SEC] studies and doing a deep analysis to determine next steps."
The Coalition, Mohrman-Gillis continues, "will aggressively support the SEC in its recommendation to extend the fiduciary standard of care to broker-dealers, and we will do all we can to make sure that the SEC retains oversight of investment advisers, especially fighting any effort that would lead to a delegation of this core responsibility" to the Financial Industry Regulatory Authority (FINRA). Read more >
March 1, 2011