The Financial Planning Coalition delivered a letter to the Securities and Exchange Commission on Thursday, accompanied by a petition signed by 5,200 financial planners, urging the SEC to apply a fiduciary standard to anyone providing personalized investment advice to retail clients.
"The Coalition appreciates the leadership you have shown in your support of a fiduciary standard for advice provided to retail investors," the letter said, which also sent to members of Congress. "We are deeply concerned that current regulations governing the delivery of personalized investment advice are insufficient to protect investors." Read more >
June 27, 2011