Financial Planning Coalition Statement on Secretary Perez’s Testimony

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 Secretary Perez’s discussion of the upcoming Department of Labor fiduciary rule during a hearing before the House Committee on Education and the Workforce:

“We commend Secretary Perez and the Department of Labor for taking steps to enhance protections for retirement savers and conducting an inclusive and thorough rulemaking process that has carefully sought and weighed input from all stakeholders. We remain optimistic that the final rule developed under Secretary Perez’s leadership will thoughtfully balance investor protections with access to reliable retirement advice and will allow millions of Americans to achieve financial security in retirement. We urge Congress not to further delay or derail this important consumer protection.”