Financial Planners Category

Some planners are CFPs, some are CPA/PFS’, and some are sales reps masquerading as planners so they can sell more investment and insurance products. For example, life insurance agents figured out a long time ago that “planner” sounded a lot better than “agent” when they talk to potential clients. With no other changes they became overnight planners because it helped them move product.

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@InvestorWatchdog.com
Site: http://www.investorwatchdog.com
About: Jack entered the financial services industry as an institutional consultant and later as vice president at Warburg, Paribas, Becker in 1976. From 1983 to 2003 he was the President of Lexington Capital Management and related companies. In December, 2003 John Wiley published his book "Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor". In 2004, he founded PaladinRegistry.com, a website that educated investors about financial advisors. A national Registry of pre-screened, five star rated advisors was added to the website later in 2004. In 2009, he founded InvestorWatchdog.com, a website that provides tools and information to investors who use the services of financial planners and financial advisors. Since 2004, Jack has been frequently quoted in the media on topics about financial advisors, Wall Street firms, investment scams, and the financial services industry (BusinessWeek, Forbes, Kiplinger, Washington Post, etc.).See Authors Posts (59) | November 3, 2011 | Deceptive Sales Practices, Financial Advisors, Financial Planners

One of the most frequent requests we receive from investors is asking us to describe the key differences between titles that are used by financial advisors and representatives.
As background, these titles are confusing because the financial service industry wants them to be confusing. Lower quality advisors are more productive when they blur distinctions between themselves [...]

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 21, 2010 | Financial Advisors, Financial Planners

If you’re considering hiring a financial advisor or financial planner, here are five things you should avoid during your selection process.
1. Never limit your hiring criteria solely on where the advisor is located in relation to where you live. You should always look for the most competent financial professional vs. the most convenient.
2. Don’t [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | July 18, 2009 | Financial Planners

Did you know anyone can call themselves a financial planner? That’s right anyone regardless of knowledge, experience, or licensing. It is a popular title in the financial services industry because it doesn’t sound like a sales role. Consequently, the use of the  planner title has become another deceptive sales tactic. 
Years ago, insurance agents found their label had a negative impact on [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | June 8, 2009 | Bad Financial Advice, Financial Advisors, Financial Planners

Did you know financial advisors want investors to like them for two primary reasons?
First, when people like advisors they also trust them and let their guards down. If that person happens to be a less than ethical financial advisor, a door opens that makes it easier for them to sell bad advice and products that maximize their incomes.
Second, investors are more tolerant of bad results when they like their [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (87) | June 8, 2009 | Financial Advisors, Financial Planners, Illegal Schemes & Scams

What would you do if you found your investment advisor was running a Ponzi Scheme that included fake investments, returns, and reports? Report the advisor to the authorities or try to get your money back yourself?
One investor hired some ex-Navy seals and marines to pose as police officers who threatened the scheme operators with arrest if [...]