On November 5, 2010, CFP Board submitted a comment letter in response to the SEC’s comment period on proposed changes to mutual fund distribution fees.
In its comment letter on the SEC’s mutual fund distribution fees proposal, CFP Board expressed its support for the SEC’s decision not to eliminate any mutual fund share class structures. Investors should have the ability to obtain investment advice and purchase securities in different ways, whether by paying an explicit investment advisory fee, by paying for advice as part of the sales charges for a mutual fund or other security, or by choosing mutual funds from a supermarket or other platform. CFP Board believes it is necessary to allow for investor choice, and that the SEC’s proposal is a reasonable approach to providing choices among mutual funds.
Read CFP Board’s letter (PDF, 110KB)
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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.
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