Section 919C of The Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 mandated that the Government Accountability Office study the oversight of financial planners. This report examines: (i) how financial planners are regulated and overseen at the federal and state levels; (ii) what is known about the effectiveness of this regulation; and (iii) the advantages and disadvantages of alternative regulatory approaches. While the views of stakeholder interests vary, a majority of the regulatory agencies and financial services industry representatives the GAO surveyed did not favor significant structural change to the overall regulation of financial planners because they said existing regulation provides adequate coverage of most financial planning activities. Given available information, the GAO reported that an additional layer of regulation specific to financial planners did not appear to be warranted at this time and therefore recommends that: (i) The National Association of Insurance Commissioners assess consumers’ understanding of the standards of care associated with the sale of insurance products; (ii) The Securities and Exchange Commission (“SEC”) assess investors' understanding of financial planners' titles and designations; and (3) The SEC collaborate with the states to identify methods to better understand problems associated specifically with the financial planning activities of investment advisers.