CFP Board Outlines Public Policy Priorities

Strategic Insights -

The Certified Financial Planner Board of Standards has issued a six-point agenda for public policy initiatives aimed at strengthening the financial planning profession, expanding access to competent and ethical financial advice, and protecting the public. The priorities are designed to help more families plan for a secure financial future. With over 106,000 CFP(R) professionals committed to acting in their clients' best interest, CFP Board is working with policymakers to champion policies that protect American families and strengthen their long-term retirement security.

Key Takeaways:

  • CFP Board has identified six key public policy priorities: adopting a fiduciary standard for all financial advice, increasing access to financial advice and planning, expanding retirement security, increasing protections and education for consumers, adopting policies that recognize the value of financial planning, and supporting and protecting the nonprofit sector and private certification.
  • The priorities aim to expand access to competent and ethical financial advice, making it more accessible to Americans and growing the number of financial planners available to serve the needs of the public.
  • CFP Board is working with policymakers to combat and protect victims from fraud and financial exploitation.
  • The organization is also supporting the adoption of policies that protect American families and strengthen their long-term retirement security.
  • CFP Board recognized the importance of preserving nonprofit tax-exempt status and promoting policies that expand professional certification opportunities.
  • Erin Koeppel, JD, CFP Board Managing Director, Government Relations and Public Policy Counsel, emphasized the need for public policy work to drive meaningful change for consumers, CFP(R) professionals, and the financial planning profession.

Statistics:

  • Over 106,000 CFP(R) professionals have committed to acting in their clients' best interest.
  • The CFP(R) certification is widely recognized by the public, advisors, and firms as the standard for financial planners.
  • The CFP(R) certification is held by more than 100,000 people in the U.S.

Sources:

  • Certified Financial Planner Board of Standards
  • CFP Board Outlines Public Policy Priorities
  • CFP.net