Public Policy


Financial Planning Coalition

Financial Planning CoalitionOn December 9, 2008, the three major financial planning organizations in the United States — Certified Financial Planner Board of Standards, Inc., the Financial Planning Association®, and the National Association of Personal Financial Advisors — announced that they would work together to pursue consumer protection and industry reform. This announcement culminated in the formation of the Financial Planning Coalition.

The Statement of Understanding of the Financial Planning Coalition is available here.

Members of the Financial Planning Coalition will collaborate as Congress undertakes regulatory reform to achieve the following objectives:

  • Financial planning services are delivered to the public with fiduciary accountability and transparency, serving the client's best interest first and always.
  • Financial planning services are specifically regulated to distinguish and differentiate professionals who have met essential requirements to practice, including, examination, education, experience and ethics as modeled and enforced by the CERTIFIED FINANCIAL PLANNER™ certification.
  • The public can easily identify who is a financial planner and subject to these standards.
On April 27, 2009, the Financial Planning Coalition called for legislation that would designate a professional oversight board for the financial planning profession. This oversight board would set competency and ethics standards for financial planners and would establish rules to promote the fiduciary standard of care when providing financial planning services. The Coalition’s proposal is outlined in its Case Statement.

Coalition Activity

Investor Protection Provisions of Dodd-Frank Act Deserve Bipartisan Support, Financial Planning Coalition Tells Congress

Sep 13, 2011
On September 13, 2011, in a prepared statement for the record before the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, the Financial Planning Coalition told Congress that the important investor protection provisions of the Dodd-Frank Act deserve broad bipartisan support, including Sections 913, 914 and 919(c). The Coalition urged the Subcommittee members to support the SEC as it moves forward to establish a strong and uniform fiduciary standard of conduct for broker-dealers and investment advisers and urged Congress to provide the SEC with the resources necessary to fulfill its regulatory mandate, including enhancing examinations of investment advisers. The Coalition also expressed its desire to work with the Subcommittee members to address the issues identified in the GAO's study on financial planning.

Read the Coalition’s statement (PDF, 95KB)


Financial Planning Coalition

CFP Board, the Financial Planning Association®, and the National Association of Personal Financial Advisors are working together as the Financial Planning Coalition to pursue consumer protection and industry reform.

Learn more