TITLE

The Dog Days of August

PUB. DATE
August 1997
SOURCE
Journal of Financial Planning;Aug1997, Vol. 10 Issue 4, p17
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article reports that the Consumer Federation of America (CFA) will continue to pursue on the financial planner compensation issue in August 1997. The CFA conducted a mystery shopper survey which found that the majority of planners who told callers they offer fee-only services were fee-and-commission planners. Perhaps the mystery was the methodology for the data-gathering component of the survey, which never has been completely explained. Still mad, the CFA took its act to the U.S. Securities and Exchange Commission and the North American Securities Administrators Association. In a letter from Director of Investor Protection Barbara Roper, the CFA demanded that the regulators develop standards for how planners should orally and in writing answer questions regarding compensation.
ACCESSION #
9708310893

 

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