December 24, 1990
TO: INVESTMENT ADVISERS COMMITTEE NO. 46-90
RE: DEFINITION OF "FINANCIAL PLANNER"
__________________________________________________________
The Industry Advisory Committee to the NASAA Financial
Planners/Investment Adviser Committee has been asked to develop a
definition of "financial planner" or "financial planning". At
this time, it is not clear as to why they have been asked to do
so, however, the NASAA Committee indicated at its annual meeting
in Billings this year that NASAA intends to develop a model
definition. The Industry Advisory Committee is scheduled to meet
on January 21, 1991 to address this issue.
I have attached a draft definition of "financial planner".
This definition comes from SEC Release No. 1092 on The
Applicability of the Investment Advisers Act of 1940 to Financial
Planners.
Please provide me with your comments on the attached draft
definition by January 17, 1991.
Amy B.R. Lancellotta
Assistant General Counsel
Attachment