In the news release, NAPFA Establishes New Fiduciary Standard, Setting a Higher Standard for Fee-Only, Client-First Financial Advice, issued 22-Jun-2026 by National Association of Personal Financial Advisors (NAPFA) over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows:

NAPFA Establishes New Fiduciary Standard, Setting a Higher Standard for Fee-Only, Client-First Financial Advice

New framework sets a clear benchmark for excellence while reinforcing transparency and accountability amongst financial professionals

CHICAGO, June 22, 2026 /PRNewswire/ -- The National Association of Personal Financial Advisors (NAPFA) today introduced a new Fiduciary Standard that raises the bar for excellence in Fee-Only financial planning by defining the principles and professional commitments required of NAPFA-Registered Financial Advisors.

The NAPFA Fiduciary Standard is grounded in five core duties—Care, Loyalty, Compensation, Competence, and Engagement—which define what client-first financial advice looks like in practice and how NAPFA advisors are expected to serve their clients.

Under the NAPFA Fiduciary Standard, NAPFA-Registered Financial Advisors commit to acting as fiduciaries at all times in their relationships with clients, and operate exclusively on a Fee-Only basis with no commissions, product sales, incentives, or outside compensation influencing their advice.

"The word fiduciary is used often, but what it means in practice is not always clear. NAPFA-Registered Financial Advisors commit to putting clients first in every recommendation and relationship," said Kathryn Dattomo, Chief Executive Officer of NAPFA. "The new NAPFA Fiduciary Standard underscores our commitment to the Fee-Only fiduciary model. This continues to reinforce the importance of accountability, transparency, and consistency, helping consumers better understand what it means to work with an advisor whose primary professional obligation is to act in the best interest of their client."

In addition to fiduciary and compensation requirements, the standard emphasizes professional competence as a core part of a planner's responsibility. NAPFA-Registered Financial Advisors must hold the CFP^® certification and complete 60 hours of continuing education every two years. Members and their firms also undergo reviews of disclosures to ensure adherence to Fee-Only principles and transparency expectations.

"Excellence in financial advice requires transparency, aligned interests, and a deep commitment to rigorous, comprehensive planning," said Natalie Pine, NAPFA Board Chair. "This framework sets a higher standard by clearly defining a Fee-Only fiduciary model that is free from commissions, sales incentives, and conflicts while reinforcing the ongoing professional standards that shape NAPFA advisors' work. We are committed to transparent guidance and long-term financial well-being because putting our clients' needs first is simply the right thing to do."

For consumers seeking long-term financial guidance, the NAPFA Fiduciary Standard provides a more consistent way to understand what a Fee-Only fiduciary relationship entails and the professional commitments that support it, giving clients confidence that their advisor is committed to acting in their best interest at all times.

To learn more, visit NAPFA.org/NAPFA-fiduciary.

About NAPFA
Since 1983, the National Association of Personal Financial Advisors has provided Fee-Only financial advisors across the country with some of the profession's highest standards for professional competency, comprehensive financial planning, and Fee-Only compensation. NAPFA is the leading professional association in the United States dedicated to the advancement of Fee-Only fiduciary financial planning. Learn more at www.napfa.org.

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SOURCE National Association of Personal Financial Advisors (NAPFA)