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Written by fpanet.org
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Friday, 16 January 2009 11:17 |
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As Congress begins looking at fundamental reforms to financial services regulation, the Financial Planning Association® (FPA®) is working with Certified Financial Planner Board of Standards, Inc. and the National Association of Personal Financial Advisors - together the Financial Planning Coalition - to examine how future regulation of financial planners fits into the debate.
A Statement of Understanding by the Financial Planning Coalition, released last week, will advocate that financial planning services should be provided with fiduciary accountability and appropriate disclosure. Additionally, the services should be specifically regulated to distinguish and differentiate professionals who have met appropriate examination, education, experience and ethics requirements. The coalition believes the public should be able to easily identify who is a financial planner, subject to those standards.
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Written by Carolyn
McClanahan
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Thursday, 04 December 2008 14:34 |
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What is a "profession?" There has been significant discourse in the financial planning community addressing the practice of financial planning and whether or not it fits the definition of a true profession.
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Written by Richard B. Wagner, JD, CFP®
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Friday, 07 November 2008 12:50 |
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From Dick Wagner's Inside Money Blog:
It's one of those "best of times, worst of times" times. Account balances dissipated; hopes and dreams mutated to reflect new realities. Many of us have gone through severe depression ourselves, questioning our skills, our relationships and our profession. Others of us are seriously questioning our career choices -or our career choices are questioning us as bottom lines disintegrate. As one friend noted in his travels across the country, "people are really hurting out there."
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Written by Richard B. Wagner, JD, CFP®
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Thursday, 15 January 2009 15:01 |
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There is a battle brewing: the financial planning profession versus the financial services industry. It is a battle that has been decades in the making but it seems to be increasing in its promised intensity. The stakes are high. When the Financial Planning Association achieved victory in its lawsuit against the Securities and Exchange Commission, the stakes were raised. As the financial planning world proclaims its unmitigated devotion to its clients’ best interests, they are raised again. It is one system, an old system, an old, tired system, that has shown itself to be vulnerable to all manner of moral lapse, lack of vision and has exercised bad judgment against another founded on platforms of client interests. These platforms have matured into acceptance of fiduciary accountability. It is industry versus authentic profession.
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Written by Richard B. Wagner, JD, CFP®
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Wednesday, 03 December 2008 09:28 |
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First printied in Financial Advisor Magazine October 2008.
There it was, again. "The Question." Posted right there on the April cover of Financial Advisor magazine for everyone to see. It mocked and cajoled, "What makes a profession, and will we ever meet that standard?"
It got me thinking. What standard? There is so little out there on the subject. How would we even know?
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Written by Martin Siesta
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Tuesday, 04 November 2008 16:11 |
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From Martin Siesta's Inside Money Blog:
Much of what I have been hearing and reading from planners is around questions like "What did I miss?" "What if this is different?" It is surrounded by fear and shame. Let's step back.
I want to start off by saying, I believe that this crisis is "different" and it has been coming for a while. While the cost of the "bailout" has been in the headlines, it pales compared to the other debts that will come due all too soon:
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