Financial Planning Coalition is pushing back against efforts to delay the imposition of a fiduciary duty on all retail advisers.
House Republicans this month called for the SEC to perform a cost benefit analysis before proceeding with fiduciary rulemaking.
But the coalition believes “this issue has been studied extensively” already, Marilyn Mohman-Gillis, managing director of the Certified Financial Planner Board of Standards Inc., said on a conference call with reporters today.
“The SEC's 200-page study [on fiduciary duty] was comprehensive, there have been other numerous research efforts, and our own study found that 97% of investors felt financial professionals" should follow a fiduciary standard, she said. Read more >
March 29, 2011