* NAPFA Salutes Congressional Leaders In Efforts To Protect 401(k) Participants

I found the following press release very interesting.  When I entered the financial planning profession several years ago, I determined that the only way to provide advise that was totally unbiased and without conflict of interest was to be Fee-Only.  That’s why I decided to be a member of NAPFA.

NAPFA Salutes Congressional Leaders In Efforts To Protect 401(k) Participants: Conflicted Investment Advice Prohibition Act of 2009 (H.R. 1988) requires advisors to be fiduciary and Fee-Only

ARLINGTON HEIGHTS, IL (June 12, 2009) – NAPFA salutes Representative Robert E. Andrews (D – NJ) and supporters of the Conflicted Investment Advice Prohibition Act of 2009 for stepping up efforts to protect consumers from unethical financial practices.  A company-sponsored 401(k) plan may be the only retirement savings for millions of hard working Americans and as such, is critical to reaching long-term goals.  Ensuring those who are working with individual participants are independent of the products being sold is a major step forward in helping Americans rebuild for the future.

“Representative Andrews recognizes that now more than ever we need to make sure that consumers receive unbiased advice about their retirement and the only way to do that is through working with independent fee-only financial advisors, said Diahann W. Lassus, CFP®, CPA/PFS, NAPFA Chair and President of Lassus Wherley in New Providence, NJ.

NAPFA’s more than 2,100 members appreciate the efforts of Representative Andrews and look forward to having this bill passed and signed into law.

National Chair Lassus is available to speak with members of the media who would like to discuss NAPFA’s support of H.R. 1988.  Ms. Lassus can be reached directly at diahann@lassuswherley.com.  Benjamin Lewis can also be contacted at 301-963-7555 or Benjamin.lewis@perceptiononline.com.

About The National Association of Personal Financial Advisors (NAPFA)

Since 1983, The National Association of Personal Financial Advisors (NAPFA) has provided Fee-Only financial planners across the country with some of the strictest guidelines possible for professional competency, comprehensive financial planning, and Fee-Only compensation.  With more than 2,100 members across the country, NAPFA has become the leading professional association in the United States dedicated to the advancement of Fee-Only financial planning.

For more information on NAPFA, please visit www.napfa.org.