Alphabet Soup of Financial Planners

Our assumptions are that no one cares more about your financial future than you. So if you need and/or want help in making wise financial decisions, who can you trust with your money and your financial welfare? Most of us pick a financial advisor by asking a friend or relative. We might also stop in our bank, talk to our insurance agent, or hear about financial advisors that advertise in print, radio, television, or social networks. Many financial advisors will have letters behind their name to signify a specialty or that they have passed specific test and accreditation. Here is just a sample of the most common certifications you will see associated with financial advisors:
AEP - Accredited Estate Planner
CDFA - Certified Divorce Financial Analyst
CFA - Chartered Financial Analyst
CFP - Certified Financial Planner
ChFC - Chartered Financial Consultant
CLU - Chartered Life Underwriter
CMFC - Certified Mutual Fund Counselor
CPA - Certified Public Accountant
CRC - Certified Retirement Counselor
CRPS - Chartered Retirement Plans Specialist
NAPFA – National Association of Personal Financial Advisor
PFS - Personal Financial Specialist
RIA - Registered Investment Advisor

Just because a financial advisor has letters behind their name does not make them an honest person. The April 29th edition of the USA Today stated that in 2010 there were 87,222 Securities and Exchange (SEC) complaints/questions and 1,310 Financial Industry Regulatory Authority (FIRA) new disciplinary actions filed. To help you find a financial advisor that you can trust, research their certifications and accreditations and check out BrightScope Advisor Pages.  BrightScope post information on advisors such as their employment history, qualifications, amount of assets under management and complaints filed. Do your homework when selecting a financial advisor. You do not want to trust your financial well-being to the next Bernie Madoff.

Comments

Post a Comment

Popular posts from this blog

ang huwarang pamilya

Malapit nang matapos ang Buwan ng Wikang Pambansa. At bilang paggunita sa kahalagahan ng pagmamahal sa sarili nating wika ay tatanghalin ang isang paligsahan sa eskwelahan ng aming panganay na anak. Para sa Junior Advanced Casa, ang paligsahan ay isahang pagbigkas ng tula at ang napiling tula ay:   Ang Huwarang Pamilya   Sa aming tahanan Buo ang pamilya Lubos na kasiyahan Aming nadarama Maaga pa lamang Iyong makikita Haligi ng tahanan Hayun nasa palayan Ilaw ng tahanan Laging nariyan Tunay na mapagmahal Maasikaso talaga Si kuya, si ate Maasahan din Masipag, magalang Magaling sa eskwela Itong aking pamilya Magandang huwaran Sa aking paglaki Sila ang tutularan    We have been egging TL#1 to memorize the poem. It's a bit of a struggle because we exposed him to the English language. Now, we're trying to help him learn to speak in Tagalog. He has already memorized the words but wouldn't listen and try to speak in the proper intonation. He apparently did not inherit my pen...
Read more

Submerging Market Update

note: This post was begun some time ago and the date-time stamp reflects the initial draft. The bulk of the data has been added since then. China: The Collapse Begins Chinese exports are collapsing and industrial activity with it. Recent reports suggest that they are experiencing mass factory shutdowns with owners and manager absconding. According to the BBC , migrant workers from rural areas are returning to their homes in the countryside en masse . Those watching the media would think that an shocking collapse came out of nowhere in the last few weeks. Readers of Financial Jenga have known that this was not just possible but virtually inevitable for many months. China could spend some of their dollars but they need to keep at least $1 trillion so the Yuan doesn't completely crash and burn. The interesting problem is the currency mismatch and "sterilization" issues. China's money supply growth is going to fall quickly as there will be fewer incoming dollars against ...
Read more

a brief trip to (smelly) Manila Zoo

Image
Manila Zoo. There was a time a long time ago when the mere mention of Manila Zoo made me feel giddy with excitement. I have committed to memory a childhood picture where I was happily posing in front of a peacock pheasant. Simple joy! I hail from the province and a trip to Manila used to be so special. What I didn't realize until I had children is that I was lucky to have grown up a probinsyana  - to have the fields, vast expanse of free space and hills as my playground. To have flowers to pluck, leaves to gather, dragonflies to catch, trees to climb, free fresh fruits to eat. My kids aren't as lucky. That's why a trip close to nature is a treat for our children. We brought the kids to Manila Zoo yesterday, as reward to our pre-schooler for winning the Interbranch science quiz bee in school. He loves animals and was happy to see the elephant, the birds, the tigers and the crocodiles. He was indifferent to the smell and the dilapidated look of the zoo. ...
Read more