Financial Planning Coalition
The National Association of Personal Financial Advisors (NAPFA) is proudly a founding member of the Financial Planning Coalition, a collaboration among the Financial Planning Association® (FPA), the Certified Financial Planner Board of Standard, Inc. (CFP Board) and NAPFA. The Coalition work educates legislators and regulators on the need to protect consumers, while creating a true financial planning profession.
The Financial Planning Coalition aims to achieve these objectives:
- Financial planning services that are delivered to the public with fiduciary accountability and transparency, serving the client's best interest first and always.
- Financial planning services that 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 recognition and regulation of financial planners to ensure that the public can clearly identify trustworthy financial advisors.
The Financial Planning Coalition’s Efforts to Advance a Strategy to Establish Regulatory Recognition of the Financial Planning Profession
The Coalition is meeting with policy makers in Congress and with consumer and industry organizations to discuss our goals and our conceptual proposal and to seek input as we work to further refine the details.
Our proposal is outlined in our Case Statement, and has been developed to further the goals outlined in our Statement of Understanding.
Statements and Press Releases
The Financial Planning Coalition distributes stakeholder updates, press releases and formal statements regarding the need for consumer protection and activities taking place in Congress to enact a strict fiduciary standard for all financial advisors.
- Updated Publication Addresses Investor Confusion about Stockbrokers, Investment Advisers, and Financial Planners - July 30, 2013
- FPC Statement on Wagner Legislation - 913 HearingFPC Waters Release - April 19, 2013
- FPC Stakeholder Letter February 2013
- October 2012 Update
- May 2012 Update
- 2011 Coalition Year End Update
- Financial Planning Coalition to Congress: Put Investors and Small Businesses First
- GAO Study on Financial Planning Regulation - January 18, 2011
- Poll results demonstrate strong public support for financial planning standards
- Restoring American Financial Stability Act of 2009
- November 3, 2009 House Financial Services Comittee Letter
- October 26, 2009 Joint Letter
- October 5, 2009 Friends of Fiduciary "sign on" letter to Capitol Hill leaders
- August 6, 2009 Investor Advisory Committee Comment Letter
- July 17, 2009 Diahann W. Lassus testified before the House Financial Services Committee on behalf of the Financial Planning Coalition. Read a transcript of the testimony or view the video.
- July 14, 2009 Comment letter concerning Section 913 of Administration's Proposed Legislation to Strengthen Investor Protection
- July 1, 2009: Coalition Update
- April 27, 2009: Coalition Update to Stakeholders