Financial Planning Coalition Statement on SEC Nominations Hearing

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 the U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing to confirm Lisa Fairfax and Hester Peirce to the Securities and Exchange Commission’s (SEC) five-member committee:

“The Financial Planning Coalition calls on the Senate Banking Committee to confirm nominees Lisa Fairfax and Hester Peirce. We look forward to working with both new Securities and Exchange Commissioners and remain hopeful that with all five Commissioners in office, the Commission will fulfill its investor protection mission. This includes following Chair White’s recommendation to develop a uniform fiduciary standard for broker dealers who provide retail investment advice. An SEC fiduciary standard will provide meaningful protections to American investors.”