Commentary: New financial-planning rules change playing field

04/18/2007 | MarketWatch

The recent court decision ruling in favor of the Financial Planning Association and against the Securities and Exchange Commission, while a victory for financial planners and consumers, changes the financial-advice landscape. The decision alters the rules and standards of what constitutes a financial planner, stating that brokers can only give financial advice if they are not paid for it. If paid for providing financial advice, they must register with the SEC as investment advisers.

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