It’s incredible to me how clients are duped by advisors using fake credentials. Sure, you want to use an advisor that it is likeable and seems successful, but do your homework before hiring anyone!  It is too important to skip doing a little research on the person you are going to trust with your investments and other finances.

Look for the following:

  1. a fee-only advisor  to ensure advice is provided with no conflict of interest;
  2. an advisor that has obtained the CFP credentials, and perhaps even a NAPFA member, which indicates a certain level of knowledge of investing and financial planning in part due to heavy ongoing continuing education requirements;
  3. and an advisor with a college degree and perhaps an advanced degree.

http://www.thinkadvisor.com/2015/06/03/sec-warns-of-advisors-duping-investors-with-fake-c

By ANovick | | In Articles |