IAQFP.org Stands for All Financial Planners While Commenting on the SEC "Incidental Investment Advice" Rule

/24-7PressRelease.com/ - BEVERLY HILLS, Calif., April 6, 2005 - IAQFP, in providing comment to the Securities and Exchange Commission ("SEC") on 3/25/05, defends all 100,000 Qualified Financial Planners ("QFP") in distinguishing their "advice-giving" as both unique and broad.

The SEC questioned under what conditions should a securities Broker-Dealer, and certain others, be exempt under the "incidental advice" Rule when holding out as providing financial advice or other types of investment advisory advice.

The tendency of regulators to lump together the advice of Qualified Financial Planners, with those who provide investment advice, is not only wrong it"s dangerous. The advice of a QFP is by nature broad, yet unique, because it is based on a training that forces the planner to integrate multiple areas of a persons financial affairs, not just one, such as investment advice about financial products.

Current terms confuse the public by conveying qualifications that an "Investment Adviser (IA)" or "Registered Investment Adviser (RIA)", or others, cannot be assumed to have. The regulators presumption that persons would not apply for such status unless they held certain basic qualifications is dangerous and unfounded, and begs for the application of objectively measurable standards and qualifications before one should be able to "hold out" as an "IA" or "RIA".

IAQFP recommends a new set of advertising terminology to better protect the public, believing that such new terms will help to clarify who"s who, along with the types of services they are qualified, or about which they are not qualified, to offer.

The full text of the IAQFP Letter to the SEC of March 25, 2005 can be read at: www.IAQFP.org/news.html />
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