Why do advisors withhold information from investors?
You will not buy what they are selling if you have all of the facts about their credentials, ethics, business practices, expenses, and services.
What conflict is exposed when advisors refuse to provide information?
Advisors want to invest your assets, but they do not want to disclose information about their credentials, ethics, and business practices.
Why do bad advisors have nothing to lose?
They automatically lose if they disclose information. They still have a chance of winning if they don't disclose information.
How will I know if an advisor is withholding information?
There is an old saying, "You don't know what you don't know". So you may not know an advisor is withholding information from you. it is your responsibility to ask the right questions and obtain documented responses from advisors.
Why do brand name companies refuse to let their advisors disclose information?
These companies employ a large numbers of bad advisors who generate substantial revenues. Disclosure would have a negative impact on revenue, profit, and executive bonuses.
Do financial advisors have mandatory disclosure requirements?
No they do not. It is up to you to ask the right questions and obtain documented responses. Or, Paladin will do it for you.
Do advisors have minimum education or experience requirements?
No they do not. There are no requirements for high school diplomas or one day of financial experience.
Why aren't their minimum requirements for financial advisors?
Financial services is a very high turnover industry. Low standards make it easy and cheap to hire thousands of new advisors every year.
Does Wall Street spend a lot of money training advisors?
Wall Street wants new advisors producing revenue as soon as possible; not sitting in training classes.
How does the lack of minimum requirements impact me?
No minimum requirements create a huge range in the quality of advisors, which in turn creates a major selection risk for you.