"There are 142 designations for financial advisors," says Marilyn Mohrman-Gillis, managing director for public policy and communications at the CFP Board. "We determined that most of them actually have nothing at all behind them other than a weekend course with an open book test and then you get three letters behind your name. They are basically worthless."

To help distinguish the pretenders and sales people from authentic advisors, [CFP Board] is asking the Consumer Financial Protection Bureau (CFPB) to create a ratings system for financial certifications and designations. Read more >

Financial Planning
Ann Marsh
August 21, 2012