(PRLEAP.COM) Marta B. Dunton, widow of Loren Dunton, the founder of financial planning, recently called the new Financial Advisors Legal Association insurance coverage that protects the individual financial planner, "A historical highlight in the evolution of financial planning! This is a major high point. Now, finally, the financial planner can be adequately protected."

Marta Dunton continued, "This is new, unique, original, and one-of-a-kind. The planner is no longer compelled to face potential litigation alone. Today planners are more subject to legal actions than are any other profession, even doctors. And the average cost for a typical defense is now over forty-two thousand dollars. This special coverage has long been needed to protect planners. There is strength in numbers and that will help keep the cost affordable. I congratulate FA Legal for making this important benefit possible for America’s financial planners."

Speaking from the balcony of her San Francisco residence that overlooks the Bay Area Bridge, the ‘First Lady of Financial Planning,’ Marta Dunton further explained, "Loren was known as the man who created a profession but never practiced it. Loren created the term ‘financial planning’ and devoted many years to creating the first financial planning associations. These were the Financial Planning Association (FPA), the College for Financial Planning (ICFP), the Certified Financial Planner (CFP) designation, and the National Center for Financial Education (NCFE). Loren also created Financial Planning magazine, the first publication serving this new specialty discipline."

"He also devised the process of financial planning and during his lifetime he remained a major influence on the culture of financial planning. I wish Loren could have seen the arrival of this special new insurance that will protect the RFC, and other planners. This means, finally thee is adequate protection for your business. Those who practice this profession have long deserved such protection! I feel that financial planning has finally truly arrived. Planners no longer have to be at such high risk."

Dunton’s precept’s lead to the establishment of the International Association of Registered Financial Consultants (IARFC), now the fastest growing financial planning association in the world. Each year the IARFC presents the Loren Dunton Award. Money magazine chose Dunton as ‘One of the ten most influential financial men in the history of the USA.’ USA Today called Dunton, ‘The founding father of one of America’s greatest industries.’

According to Marta Dunton, "Loren dedicated his life’s work to establishing the process that today has grown into a multi-trillion dollar industry. Loren was a man of vision who recognized a great need. He would be thrilled over the new development of truly comprehensive practice liability coverage that is now available through FALA to better protect the individual planner or insurance agent. There is now an explosion of litigation that threatens all financial professionals."

Free and no obligation details are available from the Financial Advisors Legal Association (FALA) at 7469 West Lake Mead Boulevard, Suite 170, Las Vegas, Nevada 89126 or go to their web site.