MEDIA REVIEWS - March 1-7, 2010

Longtime readers are going to be surprised to see John Bowen's column receive a "high" relevancy rating, and truth to tell, I was a little surprised too, but it offers a good way to market yourself and a little bit of a twist on how to do the planning. Martin Shenkman and Ed Slott both do their usual great job of explaining the complexities of estate planning and distribution planning, respectively, and I think both features have merit. The discussion of regulatory issues may not break new ground but it offers a pretty good discussion, and I really like the idea of readers posing questions and the magazine finding experts to answer them.

Meanwhile, something very important has happened. Wisconsin Senator Herb Kohl, a member of the Senate Banking Committee, has drafted a provision for inclusion in the new financial reform legislation which would do a number of things that I suspect you support. It would create a safe harbor for the term "financial planner," meaning the plumber down the street and his dog couldn't call themselves financial planners without meeting some essential requirements. Among other provisions, the amendment would create a financial planner oversight board.

This amendment is supported by the Financial Planning Coalition. At a time when the brokerage industry has successfully lobbied a fiduciary standard out of regulatory reform, this may be a long-shot, but the Coalition has set up a quick, easy way for you to voice support for the provision (go here: http://www.capwiz.com/cfp/home/). While you're there, you might also tell your elected representatives that you strongly support requiring all financial advisors to live up to a fiduciary standard. I think all of us need to take precious time off of our workday to participate in this legislative process; otherwise, we probably deserve what we get when more motivated parties (like the brokerage firms) work harder than we do to get their versions of legislation passed.