FPA President Tom Potts is optimistic about efforts in Washington, D.C., to encourage more regulation of the financial-planning industry. "The term 'financial planner' has been misused and abused in so many ways over the years that we would like a clarification to where we have a recognized, regulated profession of financial planning," Potts said. "We think that just makes sense for the public." In this Q&A he discusses the FPA's five standards of care and what advisers can do to help restore confidence and trust in the industry.

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