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This Paladin Registry research report describes the critical differences between financial advisors and sales representatives and provides a proven process for selecting higher quality advisors.
Spend five minutes reading this report and you will no longer be susceptible to the predatory practices of sales representatives and lower quality advisors!
Why is Selecting a Quality Advisor so Difficult? They will never acknowledge it, but financial services companies go to great lengths to make selecting an advisor or planner a risky, difficult process. They have three ways of hiding information that would make it easier for you to select a high quality advisor:
· Advisors don’t have track records
· Advisors don’t have mandatory disclosure requirements
· Advisors don’t provide public data that’s accessible to investors
How do Advisors Hide Information? Extensive Paladin Registry research, that includes data from more than 16,000 financial advisors, shows more than 90% of advisors hide some information from investors. They use three primary sales strategies to hide the information:
· They misrepresent information so they sound better than they really are. For example, they exaggerate their results. They know you have no way of validating their claims.
· They use their personalities and sales skills, brand names, and other tactics to divert your attention away from information that really matters - their credentials, ethics, business practices, and services. A typical sales process is to get you to like them so you trust them. Once they’ve established trust, they can sell you products that make them the most money.
Why Hide Information? Advisors and financial services companies make more money when they hide information:
· Reps with no experience can market themselves as experts so they make more money sooner. If you knew they had no experience you wouldn’t buy products from them.
· Companies can license new reps and have them producing revenue in a matter of days. This strategy increases company profits.
About Paladin Registry Registry professionals have spent 30 years studying the relationships between investors and financial advisors. Based on our experience and extensive market research we have developed unique investor education materials and a proprietary rating system that helps you determine the quality of your advisors.
All Registry information is free to investors who use the services of financial advisors and financial planners. Click here if you are seeking a pre-screened, five star professional who works in your community. |