Financial Planning Coalition “Extremely Disappointed” about Lawsuit to Block Final DoL Fiduciary Rule

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 a lawsuit from nine organizations, including the U.S. Chamber of Commerce, to block to the Department of Labor’s final fiduciary rule:

“The Financial Planning Coalition is extremely disappointed that these organizations have resorted to litigation to challenge a popular and commonsense rule that is long overdue. Any further delay in the implementation stands to negatively impact millions of American retirement savers. We urge these organizations to instead join many in the financial services industry, who have already begun implementing the rule, in recognizing that the final fiduciary rule is good for businesses and for consumers.”