FINANCIAL PLANNING COALITION STATEMENT ON PRESIDENT TRUMP’S DIRECTIVE TO STOP DOL FIDUCIARY RULE

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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 on President Trump’s presidential memorandum that would halt the implementation of the U.S. Department of Labor (DOL) Fiduciary Rule: “The Financial Planning Coalition strongly opposes the action taken today by President Trump to halt the Department of Labor’s Final Fiduciary Rule that will protect millions of Americans saving for retirement. With just two months to go before its implementation date, the President has effectively given the green light to maintain the status quo of conflicted financial advice. By issuing this memorandum, the President is directing the Department of Labor to produce an outcome that will likely lead to either a complete gutting of this thoroughly vetted consumer protection or lead to its outright demise. Either...

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