| "Your biggest financial risk isn't investing in the stock | | | | In the absence of solid credentials, how do weak |
| market. It's bad advice when you invest in the stock | | | | advisors compete? |
| market. Low quality advisors, with very few | | | | Advisors with bad credentials use a time-tested |
| credentials, are the primary providers of bad advice. | | | | strategy that works. They compete with their |
| They are paid to sell investment and insurance | | | | personalities and sales skills. That's why so many |
| products. They are not paid to help you achieve your | | | | investors refer to their advisors as being nice people. |
| financial goals". | | | | They can't believe nice people will take advantage of |
| Why should advisors be required to document their | | | | them. They are also convinced their advisors are |
| credentials? | | | | financial experts because the advisors said so - a key |
| Documentation for credentials, ethics, and business | | | | component of every sales pitch. Unfortunately, |
| practices is the only way advisors can prove they are | | | | personalities and sales skills have nothing to do with |
| the experts they say they are. Plus, documentation | | | | advisor competency and integrity. |
| reduces your risk of selecting the wrong advisor. | | | | Your biggest financial risk |
| Why do Some Advisors Hide their credentials? | | | | It stands to reason bad advisors give bad advice. It |
| Advisors hide weak credentials for one basic reason - | | | | could be deliberate so they can make more money. |
| exposure will cause them to lose sales. Their strategy | | | | Or, it could be inadvertent because they don't have the |
| is not to provide the information and hope you don't | | | | knowledge to give good advice. Regardless of the |
| know enough to ask key questions about their | | | | reason, bad advice, in particular in down markets, can |
| credentials, ethics, and business practices. | | | | damage or destroy financial futures. |
| What hidden credentials? | | | | High quality professionals document credentials |
| Financial advisors have a least 40 characteristics that | | | | High quality professionals are proud of their credentials |
| describe their competency, ethics and business | | | | because they have spent years and thousands of |
| practices. Some of the more important ones are: | | | | hours acquiring them. They are willing to document |
| education, certifications, experience, compliance | | | | their credentials to reduce your risk of selecting the |
| records, conflicts of interest, RIA and fiduciary | | | | wrong advisor. |
| statuses, methods of compensation, and wealth | | | | Where can I go to learn how to bad advice and how |
| management services. | | | | to select competent, ethical advisors? |