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October 13, 2010 at 08:00 PM
The Financial Planning Association’s push for a universal fiduciary standard was a common topic of discussion during the FPA’s annual conference that wrapped up in Denver on Tuesday.
The conference’s workshop schedule was top-heavy with fiduciary standard-related topics, and FPA president-elect Marty Kurtz, CFP, AIFA, devoted much of his time during the closing general session talking about how remarkably close we are to having a “true fiduciary standard” become a reality.
At every turn, FPA leadership took the opportunity to speak out about the FPA’s leadership role in the “fiduciary movement,” and noted that the association has already taken the proactive step of developing the first phase of a fiduciary education program focused specifically on the process and decisions involved in delivering financial planning. This is in anticipation that all financial planners and investment advisors will need to provide services at a fiduciary level in the near future.
The conference program included workshops such as, “Code of Ethics: Acting Like a Fiduciary Under CFP Board Rule 1.4″ and “Defining the FPA’s Fiduciary Ethos,” plus a panel discussion titled, “Living in a Fiduciary World.”
FPA leadership also made attendees aware of the association’s efforts to protect the use of the title “financial planner” and enforcing sanctions against “those who abuse it.”
When President Obama signed the Dodd-Frank financial reform legislation into law on July 21, two major initiatives that could transform the way financial advice is regulated were put in motion.
