XY Planning Network Takes Fiduciary Fight To States And Hires Advocacy Consultant Duane Thompson

BOZEMAN, Mont., Oct. 12, 2020 /PRNewswire/ — XY Planning Network (XYPN), a membership organization comprised of more than 1,300 independent fee-for-service financial advisors, today announced that it will not appeal its unfavorable 2nd Circuit ruling on Regulation Best Interest, but it has engaged Duane Thompson, president and founder of Potomac Strategies LLC, an experienced industry lobbyist and fiduciary advocate, to continue its fiduciary fight at the state level. Thompson will assist XYPN in its state advocacy efforts for a fiduciary standard for all financial advice, and that the fee-for-service business model XYPN pioneered be regulated in a manner consistent with other (e.g., assets under management) fee models.

In September 2019, XY Planning Network (XYPN) co-founders Alan Moore and Michael Kitces made waves when they announced their decision to file a lawsuit against the SEC challenging the Regulation Best Interest (Reg BI) rule during the opening of their

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