Investors need simpler, easier to understand disclosures that are written in plain English and are provided before the investor hires a financial intermediary, according to the Certified Financial Planner (CFP) Board of Standards Inc., which issued proposed new disclosure language guidelines on Monday.

The CFP Board outlined its suggestions on how investor language can be simplified in a 12-page letter sent to Securities and Exchange Commission (SEC) Secretary Elizabeth M. Murphy. The SEC is currently conducting its own study on financial literacy among investors. Read more >

Financial Advisor
March 27, 2012