As James Lee takes over as president of the Financial Planning Association, he aims to take up the fight for legal protection of financial planning as a profession.
Lee’s year-long term, which began Sunday, will be focused on establishing universally accepted standards of competency and ethics for anyone proclaiming themselves to be a financial planner.
“FPA believes financial planning is a noble profession worthy of recognition and legal protection,” Lee said in a statement. “Anyone representing themselves as a financial planner must be qualified to provide these critical services.”
While achieving the goal could take years and involve legislative and regulatory changes at the state and federal levels, Lee said he plans to work with the FPA’s national volunteer leaders to move the long-term goal forward in 2023.
“I believe strongly in the power of volunteerism and what it can do for organizations and society as a whole,” he said. “I look forward to using this platform as FPA’s president to encourage others to volunteer while we work to position financial planning as the next great profession.”
In addition to serving as president of Lee Investment Management in Saratoga Springs, New York, Lee has been a member of the FPA for more than 20 years and spent the last three serving on the board of directors, included a stint as president-elect in 2022. He is a founding member of the FPA Council of New York, a past chair of FPA’s legislative and regulatory issues committee, and spent seven years on the board of directors of the FPA of Northeastern New York.
During the FPA’s annual update in July, Lee’s predecessor, Dennis Moore, announced an initiative to make title protection the group's top advocacy priority and be the industry leader on the cause.
A recently settled lawsuit over Vanguard’s first-ever acquisition named a current sales executive at Altruist, the RIA custodian that Vanguard just bought for $4.6 billion.
Advisors who lead with cost savings when pitching pooled employer 401(k) plans may be underselling — and misrepresenting — the fiduciary value.
The Minneapolis-based consolidator's addition of a $345 million Anchorage RIA comes as small sellers navigate a volatile 2026 deal market.
He says the account portal went dark just as he tried to check what he owned.
Six insiders sold more than $30 million in stock before shares fell about 45%.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
