The CFP Board, Investment Adviser Association, and other groups representing the wealth management industry are asking Congress to reinstate the tax deduction for financial advice fees.
The organizations cosigned a letter to the chairman of the House Ways and Means Committee, Rep. Jason Smith (R., Mo.), arguing that the Trump administration’s 2017 tax overhaul, which repealed the limited deduction, made it harder for Americans to afford investment and planning services.
“An…
