Financial Planning Coalition Letter to SEC Addresses Impact of Applying Advisers Act to Brokerage Activity

On November 30, 2010, the Financial Planning Coalition sent a letter to the Securities and Exchange Commission (SEC), responding to comments provided by the Securities Industry and Financial Markets Association (SIFMA) that set out to assess the impact of applying the Advisers Act to all brokerage activity, and urging the SEC to adopt a strong and uniform fiduciary standard for both broker-dealers and investment advisers when making personalized recommendations to retail customers.

Read the Coalition’s letter (PDF, 79KB)