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April 27, 2010 at 04:52 AM
Modern technology is pretty amazing stuff, but what really blows me away is how it’s changing our lives. Case in point, I just read two of Jamie Green’s postings from the FPA Retreat in San Antonio, which was held this weekend. Now it’s Monday, and thanks to Jamie’s diligent reporting, I can post this blog about what was said without having to have been there.
I know, for years television has connected the world in real time, but the Retreat ain’t exactly the floor of the U.S. Senate, if you know what I mean. You have to admit, being able to follow something as relatively insignificant as FPA board members’ remarks in even close to real time is pretty darn cool.
You might rightly point out there isn’t much happening at FPA Retreats that even most financial planners would be interested in at any time, let alone real time. But this time, you’d be wrong. Last Friday, leaders of the Coalition for Financial Planning presented the current status of the Financial Planners Act of 2010. Even though the “Act” never made it into Senator Dodd’s financial reregulation bill, it seems the Coalition continues to hold out hope for it, explaining that Senator Herb Kohl (D-Wisconsin) will once again “offer his amendment when it’s appropriate” during the Senate’s debate of Dodd’s bill (which after today’s cloture vote, won’t be happening for a couple of days, at least).
This announcement was, of course, made with much fanfare and flag waving about “establishing financial planning as a profession.” Without mentioning that the CFP Board already has had 20 years to do this, or that no one in Washington currently is having a conversation about financial planning, except apparently Senator Kohl by himself, the important takeaway here is that the Coalition/CFP Board is, like a dog worrying a bone, continuing to divert its attention away from the real issue at hand.
