Planning Groups Prepare For Long Fight

A group of financial planners pushing for regulation of their profession is bracing for a long fight... The Financial Planning Coalition wants to limit who can call himself or herself a financial planner, a title anyone can use today. The group wants ethical and competency standards for individuals who hold themselves out as financial planners, and a new regulatory authority to oversee self-described planners.

Another part of the group’s battle–requiring financial advice providers to put their clients’ interests first–has gained momentum after the Madoff scandal and the market meltdown of a year ago. But providing more clarity around the somewhat vague concept of financial planning isn’t a priority now for lawmakers...

WSJ: Planning Groups Prepare For Long Fight