Title safety, he defined, “is rooted in 4 pillars” — title utilization, skilled competency, client safety {and professional} development, including that it “will distinguish monetary planners from different monetary service suppliers leaving the time period monetary planner.”
Lee hopes that title safety “will set up threshold requirements for monetary planners with out creating an pointless regulatory burden for these assembly requirements. Anybody proclaiming to be a monetary planner should meet the mandatory threshold requirements for competency and ethics.”
Moreover, Lee mentioned, title safety “will allow shoppers to determine and have interaction with a certified monetary planner for complete monetary planning companies.”
Monetary planning “has but to realize the identical stage of recognition of different honorable professions, together with drugs, legislation and accounting,” Lee added. “It is a important step within the recognition of economic planning as a definite important career devoted to the betterment of society.”
Attaining title safety is a “long-term goal” for FPA, Lee conceded, and “would require time and endurance to realize.” FPA will interact “in stakeholder outreach to grasp your views,” he mentioned.
