Dream Stealers

November 2001
Journal of Financial Planning;Nov2001, Vol. 14 Issue 11, p10
Academic Journal
The editorial focuses on the role of compliance in the lives of financial planners. From the planner's perspective, meeting compliance requirements, whether it's the U.S. Securities & Exchange Commission, the National Association of Securities Dealers, the states or broker/dealers, is a daily nuisance that steals valuable time that could otherwise be spent serving clients. The editors explain how the articles in this edition relate especially to compliance issues. One article examines the audit, and explores the planner's view that an audit fails to benefit client, consumer or planner. The editors agree that there is some value to regulation and that the financial planning profession needs some checks and balances to prevent abuse and dishonesty by planners. Yet, they also feel that planner's complaints about regulators who don't understand the profession points to an issue that has been with the industry from its inception: just what exactly is financial planning and how can they convey its essence to the rest of the world.


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