Allan Roth, author of How a Second Grader Beats Wall Street, is the proud owner of Max Tailwager, a dachshund puppy and a 2009 recipient of the America’s Top Financial Planners award bestowed by the Consumers’ Research Council of America.

Roth received a letter in the mail from SLD Industries, informing him that he was named the recipient of this “prestigious” award. Instead of throwing the fictitious offer away, he decided to have some fun. So he sent in the form to receive a beautiful yet phony plaque and named Max the beneficiary.

What started out to be an attempt to have a little fun has shown that an award given to a financial planner without any legitimate selection or rigorous examination process is misleading investors. It proves not all “honors” or credentials are what they claim to be. Many are nothing more than fluff.

If you see one of these phony certifications in your financial adviser’s office you may want to leave immediately and give Max a call. I heard in 2008 Max made $99.3 billion more than the brilliant financial minds at AIG, and he costs a lot less.