September 2020: Starting Thoughts

Journal of Financial Planning: September 2020



Members of various professions—from medicine and law, to education and financial planning—are drawn to their professional associations for a variety of reasons. For some, the strongest pull comes from advocacy. A collective voice within a profession can profoundly impact the legislation and regulations governing that profession. Being part of something much larger than oneself fulfills that basic human need of a sense of purpose.

At FPA, advocacy is a hallmark of the membership value proposition, ensuring that the issues that matter most to members are incorporated into the regulations that shape the financial planning profession.

While planning how best to approach our annual regulatory update, the Journal and FPA advocacy teams felt that an update on FPA’s 2020 advocacy efforts was the best way to inform readers on new and pending legislation and rules, and educate readers on the advocacy being done on your behalf.

The cover story is an update on the status of 12 specific pieces of regulation and five areas of legislation that affect your business, your profession, and your credentials. As proposed rules, such as the DOL’s proposed Investment Advice Rule, are solidified, the online version of the cover story will be updated.

Although FPA members and Journal readers are largely U.S. based and practicing here in the states, an international perspective can be eye opening. Co-authors Jason Pereira, CFP®; and Alexandra Macqueen, CFP® provide a brief history of the Canadian efforts to remedy a fragmented regulatory environment and embrace a fiduciary standard. And don’t miss Pereira’s story of how connecting with FPA NexGen members at the 2017 FPA Annual Conference led to the creation of FPA of Canada. Advocacy at its best.

Carly Schulaka

Career stage
Learning / Aspiring