Washington, D.C. – 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 President Obama’s FY 2017 budget proposal:
“The Financial Planning Coalition applauds President Obama for his leadership and commitment to protecting American investors and retirement savers. In particular, increasing the annual funding for the Securities and Exchange Commission will help to ensure that there is sufficient oversight of investment advisers. We urge lawmakers to preserve the increase the President is recommending as it will help support the SEC in its investor protection mission. The Coalition is also pleased to see that the President continues to recognize the importance of reasonable protection for savers and retirees from misleading and harmful retirement advice through increased funding for the Department of Labor’s Employee Benefits Security Administration (EBSA). Investors and the economy, more broadly, will benefit from the Obama Administration’s steadfast dedication to the American middle class.