Check a Credential
A high percentage of financial advisors display letters after their names.
These letters are supposed to represent credentials they have earned through extensive study, examinations, and continuing education.
What if that is not true?
The Best Advisors
The best financial advisors earned their credentials with significant study, proctored examinations, and completing continuing education requirements.
In this case, their credentials mean they really are experts in their fields.
Some of the best credentials include: CFA, CIMA, CFP, and CPA.
The Unethical Advisors
Unfortunately, not all advisors earn their credentials. Some buy them the same way they buy degrees from diploma mills.
They buy credentials to look more knowledgeable than they really are.
This is a deceptive sales practice. You would never knowingly select this advisor, but that is their big advantage. You may not know.
Many advisors target seniors with this deceptive sales tactic. The Consumer Protection Bureau says there are more than 50 fake credentials that target seniors.
If you are a senior, don’t sign any documents until you have validated the quality of the advisor’s credentials.
Lack of Regulations
You might be wondering how unethical advisors get away with it?
First, there are no meaningful regulations that prevent these deceptive sales practices.
Second, these advisors know most investors will not take the time to check the validity of their credentials.
Third, the advisors know there is no easy way to check credentials.
Check a Credential
We make it easy to check the quality of credentials.
We have researched more than 250 certifications and designations that are used by financial advisors. Then we produced a report and a quality rating for each credential.
All you enter are the letters of the credential to view the report and ratings.
The service is FREE and there are no registration requirements!