The Financial Planning Coalition issued the following statement regarding a recent FINRA survey that confirms the findings from original research conducted by the Financial Planning Coalition. Both FINRA and the Coalition’s findings indicate that investors support more government oversight of investment advisers and appropriate regulation to safeguard themselves from adviser misconduct.
“The Financial Planning Coalition urges Congressional leaders to make investor protection and the provision of ethical financial advice priorities in 2015. Providing the Securities and Exchange Commission’s (SEC) with the funding it needs to fill dangerous gaps in investment adviser oversight should be Congress’ first order of business. In the absence of this increased funding, however, Congress should pass bipartisan legislation authorizing the SEC to collect user fees from registered investment advisers in order to increase the alarmingly low frequency of examinations.”