Adviser pushes tax deduction for financial-planning services

08/15/2010 | InvestmentNews (free registration)

Financial planner Kirk Loury is pushing lawmakers to consider a tax deduction for money spent on financial-planning services. He argues that more widespread use of financial planners could help avert another financial crisis and ensuing bailout. "We could have saved literally billions of dollars, if people had had the guidance of financial planning," said Loury. FPA Managing Director of Government Relations and Public Policy Dan Barry said the group is looking at the issue, which has broad support in the financial-planning community.

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