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.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
The independent RIA's new hire, with a decade of M&A experience from his former firm and Raymond James, comes as SEIA logs record growth in 2024.
Bank of America gains strength in NY a veteran UHNW advisor while RayJay welcomes a three-decade industry veteran in Georgia.
A decline in bullishness across Wall Street has not stifled financial innovation in the ETF industry, with scores of new funds minted including leveraged and exotic bets.
China may suspend some tariffs on US goods.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
