“Your biggest financial risk isn't investing in the stock market. It's bad advice when you invest in the stock market. Low quality advisors, with very few credentials, are the primary providers of bad advice. They are paid to sell investment and insurance products. They are not paid to help you achieve your financial goals”.

Why should advisors be required to document their credentials?
Documentation for credentials, ethics, and business practices is the only way advisors can prove they are the experts they say they are. Plus, documentation reduces your risk of selecting the wrong advisor.

Why do Some Advisors Hide their credentials?
Advisors hide weak credentials for one basic reason - exposure will cause them to lose sales. Their strategy is not to provide the information and hope you don't know enough to ask key questions about their credentials, ethics, and business practices.

What hidden credentials?
Financial advisors have a least 40 characteristics that describe their competency, ethics and business practices. Some of the more important ones are: education, certifications, experience, compliance records, conflicts of interest, RIA and fiduciary statuses, methods of compensation, and wealth management services.

In the absence of solid credentials, how do weak advisors compete?
Advisors with bad credentials use a time-tested strategy that works. They compete with their personalities and sales skills. That's why so many investors refer to their advisors as being nice people. They can't believe nice people will take advantage of them. They are also convinced their advisors are financial experts because the advisors said so – a key component of every sales pitch. Unfortunately, personalities and sales skills have nothing to do with advisor competency and integrity.

Your biggest financial risk
It stands to reason bad advisors give bad advice. It could be deliberate so they can make more money. Or, it could be inadvertent because they don't have the knowledge to give good advice. Regardless of the reason, bad advice, in particular in down markets, can damage or destroy financial futures.

High quality professionals document credentials
High quality professionals are proud of their credentials because they have spent years and thousands of hours acquiring them. They are willing to document their credentials to reduce your risk of selecting the wrong advisor.