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February 5, 2013
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A weekly digest of news and industry updates for the financial planning community

  Top Story 
  • SEC's fiduciary rule could advance this summer
    The Securities and Exchange Commission could be ready this summer to seek feedback about how a uniform fiduciary duty for brokers and financial advisers would work and for ways to conduct a cost/benefit analysis. Observers say a proposal in Congress to establish a self-regulatory organization for advisers has been met with bipartisan opposition. InvestmentNews (free registration) (2/3) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • GOP senators call for CFPB commission
    Forty-three Republican senators wrote a letter to President Barack Obama saying they will block any Consumer Financial Protection Bureau director nominee until the agency is changed so it is run by a bipartisan, five-member commission and its funding goes through the congressional appropriations process. Sen. Jerry Moran, R-Kan., filed legislation Friday to achieve those objectives. Senate banking committee Chairman Tim Johnson, D-S.D., called the action "just politics at play." The Hill/On the Money blog (2/1) LinkedInFacebookTwitterEmail this Story
  • Senate aide garners support for SEC spot
    Democratic senators are backing Kara Stein, a 15-year veteran of Washington and aide to Sen. Jack Reed, D-R.I., for a seat on the Securities and Exchange Commission. She was instrumental in writing portions of the Dodd-Frank Act and is responsible for setting up hearings on such hot-button topics as high-frequency trading and the triparty repo system. The Wall Street Journal/Washington Wire blog (2/1) LinkedInFacebookTwitterEmail this Story
  • FINRA wants easier background check on advisers and brokerages
    The Financial Industry Regulatory Authority proposed a rule to make it easier for investors to investigate the background of financial advisers and brokerages. The rule would require websites of companies regulated by FINRA to link to the agency's online database BrokerCheck. Reuters (2/1) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • Planning becomes more integrated with software advances
    Digital technologies such as cloud computing and the growth of application programming interfaces are changing the financial planning industry. These developments have made data more accessible and portable than ever, writes Michael Kitces. Integration of CRM, portfolio management and reporting, and financial planning software is getting tighter and more seamless as well. Nerd's Eye View blog (1/28) LinkedInFacebookTwitterEmail this Story
  Industry Report 
  • Roth 401(k) conversions draw little interest, experts say
    Congress has given retirement savers a chance to turn their 401(k) retirement plans into Roth savings accounts, but few individuals and plan sponsors appear interested, plan administrators say. Many people don't know how to determine whether they are better off paying taxes on their retirement investments now or later -- which is the difference between the two types of accounts, experts say. Other factors limiting interest are the lack of awareness of the change and a desire among plan sponsors to simplify options for employees. MarketWatch/Encore blog (1/29) LinkedInFacebookTwitterEmail this Story
  FPA News 
  • Financial planning needed for military service members
    In collaboration with FPA, Zeiders Enterprises is seeking financial planning experts to provide financial counseling and education services at various military locations across the country. FPA's financial experts are being called upon to educate military service members and their families on the financial planning process. Learn more about this opportunity, including compensation for participation, and how you can help military families. LinkedInFacebookTwitterEmail this Story
  • CNNMoney directs consumers to FPA PlannerSearch
    CNNMoney recently featured FPA PlannerSearch to help consumers find planners in their area. "In any case, you can search for all three types of planners in your area by going to the Find a Planner section of the Financial Planning Association site." -- CNNMoney. Read the full article. CNBC, USAWeekend, TIME and others have recommended FPA PlannerSearch to their subscribers, reaching millions of consumers nationwide. Eligible FPA members can receive a FREE listing. Sign up today! LinkedInFacebookTwitterEmail this Story
Never assume the obvious is true."
--William Safire,
American author, columnist and presidential speechwriter

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