A leading consumer advocate broke ranks earlier this year with the CFP Coalition by supporting an organization such as FINRA to regulate financial advisors. But just before a debate in Congress on the matter, she announced her opposition to a bill that would create such an SRO.
The change of heart by Barbara Roper, director of investor protection at the Consumer Federation of America and a longtime ally of the FPA, CFP Board and NAPFA on the issue, stunned many on both sides of the debate. After two decades advocating for increased oversight to no avail, Roper said she had decided that some increased oversight via an SRO would be better than nothing.
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