Is Your Financial Advisor Waving These Red Flags?

News & Events


CFP Board in the News

Is Your Financial Advisor Waving These Red Flags?

Jun 14, 2013

When choosing a financial planner to help manage your money, the importance of careful screening cannot be overstated. Indeed, amid the thousands of reputable advisors who serve their clients well, there exist a few who are only out for personal gain—or worse, to scam would-be investors out of their hard-earned savings.

If your advisor makes anywhere near the following statements, run, don't walk for the nearest exit.

Credentials Don't Count

Virtually anyone can hang a shingle and call themselves a financial advisor. No experience required. Before handing their money over, investors should always ask if they are a licensed broker or investment advisor, Walsh said. Advisors who have passed the requirements from their professional organization to act as a certified financial planner (CFP®) or chartered financial consultant (ChFC) also have demonstrated competency in helping investors create a comprehensive financial plan. Likewise, chartered financial analysts (CFA) are trained to provide investment advice, while certified public accountants (CPA) are considered tax experts. Read more >

Shelly K. Schwartz
June 14, 2013


Speaker's Bureau
CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Upcoming Events

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
Let's Make A Plan
Don't address your finances individually. Pull your finances together with the help of a CFP® professional.