By: Glenn Wessel, CFA, CPA, CFP®closeAuthor: Glenn Wessel, CFA, CPA, CFP® Name: Glenn Wessel
Member: Member Paladin
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Email: gwessel@wesselinvestment.com
Site: http://www.wesselinvestment.com
About: After having graduated with a degree in Economics, I quickly realized that I was ill-prepared for the real business world. I read Venita VanCaspel's best-selling self-help book "The Power of Money Dynamics" and discovered that the financial advice put forth by insurers and other large institutions often ran contrary to the best interests of consumers. Emmulating the author, I earned the Certified Finanial Planner(TM) licensel. As useful as that program was, however, I was disappointed to discover that investment theory comprised a relatively small portion of this two-year program. Wanting to specialize in the investment arena, I undertook the rigorous Chartered Financial Analyst(TM) program where the topic of investments is studied in one fashion or another over the course of three years. I have worked in finance for some 20 years (even overseeing an insolvent S&L for a year in a previous banking debacle) and have taught undergraduate finance courses for Florida Atlantic University. I established an investment advisory practice in 2003 and have since obtained a CPA license to help assure that any advice I render is well coordinated with the tax code. On a personal front, I play guitar (blues) and am in the process of building a 600 horsepower musclecar (a '66 Fairlane). I enjoy riding fast sportbikes and have been a lifelong sprinter.See Authors Posts (3) | May 28, 2009 | Financial Advisors

Regulators consider many of the titles that are commonly used within the financial advisory community as being of a generic nature. That is, they are non-specific enough that they, for the most part, escape regulation. "Financial Planner" and "Financial Advisor" are two notable examples of a generic title. Because anyone may use these titles, they convey little useful information to consumers. The descriptor "Vice President" may be a meaningful adjective within the confines of various entities…or it may not. In actuality, some organizations are swollen with VPs whose responsibilities are pretty watered down. In contrast, the term “partner” tends to carry some weight – and for good reason. When you walk into a professional services firm (e.g., a law or accountancy firm) and meet with a partner, that person is likely to have provided years of valuable service to that firm . The term partner is also a legal term that suggests an ownership interest in the firm. However, what if an advisory firm that whose advisors were regular employees automatically received business cards that say partner? Clients would be duped, but regulators may not notice. This practice is unethical if not illegal, I’ve seen advisory firms resort to this tactic in an effort to give its advisors a marketing edge.

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