{"id":8198,"date":"2017-01-24T11:29:03","date_gmt":"2017-01-24T19:29:03","guid":{"rendered":"http:\/\/blog.paladinregistry.com\/?p=8198"},"modified":"2021-02-15T01:32:56","modified_gmt":"2021-02-15T06:32:56","slug":"using-the-internet-to-find-and-research-financial-advisors","status":"publish","type":"post","link":"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/","title":{"rendered":"Using The Internet To Find And Research Financial Advisors"},"content":{"rendered":"\n<p>Read this timely article if you are planning to change financial advisors or select your first advisor in the first quarter of 2017.<\/p>\n\n\n\n<p>How do you find a competent, ethical financial advisor you can trust?<\/p>\n\n\n\n<p>If you are replacing an advisor, how do you avoid making the same mistake twice?<\/p>\n\n\n\n<p>If you are selecting your first financial advisor, how do you <a href=\"http:\/\/www.paladinregistry.com\/find-financial-advisors\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><span style=\"color: #0000ff;\">minimize your risk of making a catastrophic mistake<\/span><\/strong><\/a>?<\/p>\n\n\n\n<p>If this is your first experience selecting a financial advisor, you are more likely to buy investment and insurance products from salesmen who initiate contact with you. This makes the process easy &#8211; you don\u2019t have to do any work. You simply interview them and buy from the person you like the best.<\/p>\n\n\n\n<p>On the other hand, if you are replacing a financial advisor there is a good chance you had a bad experience with your previous, terminated advisor. In this case, you are more likely to use a process that helps you select the best advisor, not the advisor with the best sales skills.<\/p>\n\n\n\n<p><em>You are more cautious because the easy process, that is dominated by salesmen, did not work.<\/em><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_68_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d63a137b7e9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d63a137b7e9\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Salesmen_vs_Advisors\" title=\"Salesmen vs Advisors\">Salesmen vs Advisors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Why_Avoid_Salesmen\" title=\"Why Avoid Salesmen?\">Why Avoid Salesmen?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Why_Use_the_Internet\" title=\"Why Use the Internet?&nbsp;\">Why Use the Internet?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Who_Controls_the_Process\" title=\"Who Controls the Process?\">Who Controls the Process?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Financial_Advisor_Websites\" title=\"Financial Advisor Websites\">Financial Advisor Websites<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Name_Search\" title=\"Name Search\">Name Search<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Your_Anonymity\" title=\"Your Anonymity\">Your Anonymity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Contacting_Advisors\" title=\"Contacting Advisors\">Contacting Advisors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#How_do_you_know_they_are_salesmen\" title=\"How do you know they are salesmen?\">How do you know they are salesmen?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#Exclude_them_from_your_search\" title=\"Exclude them from your search.\">Exclude them from your search.<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Salesmen_vs_Advisors\"><\/span><strong>Salesmen vs Advisors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Salesmen are trained to initiate contact with investors using various sales tactics: Telemarketing, direct mail, free seminars, etc. This is a disruptive form of marketing because most investors do not want to be contacted by salesmen they do not know.<\/p>\n\n\n\n<p>The good news is there are financial advisors whose principal skills are planning and investing and not selling. In fact, a pretty high percentage of theses advisors do not even like the sales process. These professionals do not consider it a good use of their time. They would rather be producing financial plans and investing client assets.<\/p>\n\n\n\n<p><em>A note of caution. There is no regulation that prevents salesmen from calling themselves financial advisors &#8211;&nbsp; if it reduces your sales resistance.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Avoid_Salesmen\"><\/span><strong>Why Avoid Salesmen?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There is a substantial amount of risk when financial advisors contact you.<\/p>\n\n\n\n<p>Are they salesmen or real advisors?<\/p>\n\n\n\n<p>In a 2016 <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/www.paladinregistry.com\/about\/about-us\" target=\"_blank\" rel=\"noopener noreferrer\">Paladin<\/a><\/span><\/strong> survey, 85.3% of investors said they did not want salesmen investing their assets. These are experienced investors who may have had bad experiences in the past.<\/p>\n\n\n\n<p>Salesmen create unnecessary risk for the following reasons.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>They are trained to tell you what you want to hear. For example, salesmen may say they can produce high returns for low risk. This is impossible. High returns require high exposure to risk of loss.<\/li><li>They create high expectations in their sales pitches. And, since the pitches are verbal, you have no record of what was said to you.<\/li><li>They are trained to withhold information that may cause you to reject their sales recommendations. For example, a new salesmen will not volunteer he was selling cars three months ago.<\/li><li>They are paid commissions at the time of the sale. They have no vested interest in the outcomes of the expectations they created during their sales processes.<\/li><\/ol>\n\n\n\n<p><em>It is vital that you know the difference between salesmen and financial advisors.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Use_the_Internet\"><\/span><strong>Why Use the Internet?<\/strong><strong>&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Internet is the game-changer you have been waiting for. It puts control of the process back into your hands with the click of a mouse.&nbsp;That\u2019s because you can use the Internet to find and research financial advisors while maintaining your anonymity. It is up to you to initiate contact by visiting advisor websites, learning more, and using their Contact Us function.<\/p>\n\n\n\n<p>You also limit the impact of the financial professional\u2019s sales skills when you base your selection decision on information that you find on the Internet.<\/p>\n\n\n\n<p><em>You are no longer limited to the salesmen who contact you.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_Controls_the_Process\"><\/span><strong>Who Controls the Process?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/www.dailyworth.com\/posts\/3722-how-to-research-and-choose-a-financial-advisor-waymire\" target=\"_blank\">Experienced investors want control over their selection processes<\/a><\/span><\/strong>. They want to select the financial advisors they talk to and not the other way around. Most importantly, they do not want to be limited to salesmen who contact them.<\/p>\n\n\n\n<p><em>If you do not control your selection process, the financial professional will do that for you.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Advisor_Websites\"><\/span><strong>Financial Advisor Websites<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The best financial advisors practice transparency on their websites. That is, they provide the key information you need to conduct your online research.<\/p>\n\n\n\n<p>Low quality financial advisor websites are nothing more than online sales brochures. There is a lot of sales content and very little substance.<\/p>\n\n\n\n<p>Top quality financial advisor websites are different. They provide facts for their credentials, ethics, business practices, and services. For example:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Biographies for key financial professionals<\/li><li>Access to their compliance records<\/li><li>Descriptions of their financial services<\/li><li>Descriptions of their primary types of clients<\/li><li>How they are compensated<\/li><li>What their services cost<\/li><li>How they communicate with their clients<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Name_Search\"><\/span><strong>Name Search<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Another popular way to use the Internet to research financial advisors is conducting name searches on Google. To be thorough, you should also enter the name of the advisor\u2019s firm in Google.<\/p>\n\n\n\n<p>What exactly are you looking for?<\/p>\n\n\n\n<p>From a positive point of view you are looking for articles that have been written by advisors and articles that have been written about advisors.<\/p>\n\n\n\n<p>You should assume advisors who have specialized financial knowledge are more likely to write financial articles. You should also assume salesmen are less likely to write articles.<\/p>\n\n\n\n<p>You can also enter keywords with the advisors\u2019 names to look for problems. For example: Scam, fraud, fine, censure, termination, lawsuit, bankruptcy, and foreclosure.<\/p>\n\n\n\n<p><em>At a minimum, you should scan the articles to help you assess the advisor\u2019s level of expertise and how he communicates with investors.&nbsp;<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_Anonymity\"><\/span><strong>Your Anonymity<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>One of the primary benefits of the Internet is maintaining your anonymity while you find and research financial advisors and learn more about them.<\/p>\n\n\n\n<p>You initiate contact when you are ready to talk to an advisor. The simplest way to reach the advisor is the Contact Us function on his website. You can review the content on the site and initiate contact by clicking on a button.<\/p>\n\n\n\n<p>When you use Contact us, you can limit initial contact to email or provide comments describing how you prefer to be contacted.<\/p>\n\n\n\n<p><em>Best of all, no one is trying to sell you financial products while you find advisors and conduct your research.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contacting_Advisors\"><\/span><strong>Contacting Advisors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Paladin\u2019s survey showed an anomaly &#8211; 62.4% of investors were reluctant to initiate contact with financial advisors. This defeats the purpose of a process that is controlled by investors.<\/p>\n\n\n\n<p>Investors\u2019 biggest concern was the high-pressure sales tactics that were frequently associated with the financial service industry.<\/p>\n\n\n\n<p>However, the foundation of this concern is the tactics that are used by aggressive salesmen who initiate contact with investors. You already know, one of your options, is to exclude this type of salesmen from your selection processes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_do_you_know_they_are_salesmen\"><\/span><strong>How do you know they are salesmen?<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You read their biographies on their websites.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>No biography?<\/li><li>No education?<\/li><li>No experience?<\/li><li>No certifications?<\/li><li>No high-quality association memberships?<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exclude_them_from_your_search\"><\/span><strong>Exclude them from your search.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em>Initiating contact does not mean you are exposed to aggressive sales tactics. Your focus should be advisors who are financial fiduciaries who provide financial advice and services for fees.<\/em><\/p>\n\n\n\n<p><em><a href=\"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/\">Jack Waymire<\/a> worked in the financial services industry for 28 years before he left to found the Paladin Registry (<a rel=\"noreferrer noopener\" href=\"http:\/\/www.paladinregistry.com\/\" target=\"_blank\">www.PaladinRegistry.com<\/a>) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: <\/em><\/p>\n\n\n\n<p><em>&#8220;Who\u2019s Watching Your Money?<br>The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.<\/em><\/p>\n\n\n\n<p><em><a href=\"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/\">Jack\u00a0Waymire<\/a> worked in the financial services industry for 28 years before he left to found the Paladin Registry (<a rel=\"noreferrer noopener\" href=\"http:\/\/www.paladinregistry.com\/\" target=\"_blank\">www.PaladinRegistry.com<\/a>) in 2004. This investor education website was based on the Principles in\u00a0Jack\u2019s first book:<\/em> <em>&#8220;Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.&#8221;\u00a0<br>The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read this timely article if you are planning to change financial advisors or select your first advisor in the first quarter of 2017. How do you find a competent, ethical financial advisor you can trust? If you are replacing an advisor, how do you avoid making the same mistake twice? If you are selecting your first financial advisor, how do you minimize your risk of making a catastrophic mistake? If<\/p>\n","protected":false},"author":2,"featured_media":8205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[325],"tags":[],"class_list":["post-8198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Using the Internet to Find and Research Financial Advisors<\/title>\n<meta name=\"description\" content=\"More investors are using the Internet to find and research Financial Advisors. 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Here&#039;s some tips to aid in your research when reviewing advisor websites.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/\" \/>\n<meta property=\"og:site_name\" content=\"Paladin Registry Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/PaladinRegistry\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-24T19:29:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-15T06:32:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/01\/investors-researching-financial-advisors-on-internet.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Waymire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:site\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Waymire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/\",\"name\":\"Using the Internet to Find and Research Financial Advisors\",\"isPartOf\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/using-the-internet-to-find-and-research-financial-advisors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/01\/investors-researching-financial-advisors-on-internet.jpg\",\"datePublished\":\"2017-01-24T19:29:03+00:00\",\"dateModified\":\"2021-02-15T06:32:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\"},\"description\":\"More investors are using the Internet to find and research Financial Advisors. 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