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Wednesday, October 24, 2012

Financial advisors in politics

My latest at Research magazine is on financial advisors running for office: "Should Advisors Run?" Excerpt:
In the current 112th Congress, financial advisory experience is limited. Sen. Barbara Boxer (D-Calif.) was a stockbroker in the early 1960s, before becoming in successive order a journalist, congressional aide and elected politician. Sen. Dean Heller (R-Nev.) was an institutional stockbroker and broker-trader at the Pacific Stock Exchange before entering politics; he is not running for re-election.
The picture changes only modestly if one includes accountants, of which there are seven in the House and two in the Senate. By comparison, according to an August 2012 report by the Congressional Research Service, Congress has 200 lawyers, 81 educators, 17 farmers, five ordained ministers, two pro football players and one astronaut.
Financial Planning Association head Paul Auslander recently argued advisors should get more interested in public office. Why, though, has the interest been so modest to begin with?
Whole thing here.

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