Financial Planning Coalition Statement on Omnibus Spending Bill

The Financial Planning Coalition – comprising Certified Financial Planner Board of Standards, Inc. (CFP Board), the Financial Planning Association® (FPA®) and the National Association of Personal Financial Advisors (NAPFA) – issued the following statement regarding the omnibus spending bill, which did not include a policy “rider” delaying the DOL re-proposed rule on fiduciary.

“The Financial Planning Coalition applauds Congressional leaders in standing up for American investors by resisting attempts to halt or delay the Department of Labor’s (DOL) rulemaking to require financial advisors to put their clients’ interests first when providing advice related to retirement savings. Retirement investors need – more than ever – un-conflicted advice that is in their best interests. Now, by agreeing on a funding bill without the rider, and allowing the DOL to proceed with its rulemaking without further delay, Members of Congress can take an important step to strengthen retirement security for Americans.”