Choosing a Financial Advisor
August 17th, 2009 | Posted By Jay R. McGrath
When the time comes to pick a Certified financial planner in NJ, a New Jersey wealth management firm, or a Philadelphia private wealth management group, there are certain things you should know. A financial planning guide could be of use for this purpose.
“ Investments are scary. They’re labeled “investments” because they stand a chance to either make a lot of money or lose a ton of money. They’re high risk/high reward financial pursuits.
Because of the risky game investments offer, many individuals seek the advice of a “professional” financial advisor. The reason you place “professional” in parenthesis is because not all of these so called “professionals” are actually professionals.
To avoid a lot of the confusion, Jack Waymire, an individual with 28 years of experience in the financial services industry created the Paladin Registry (PaladinRegistry.com).
While the web site was initially created to provide a byproduct to the advice book Waymire wrote in 2003 (titled “Who’s Watching Your Money?”), Paladin has since expanded to become the number one source for financial advisors nationwide.
Today the registry provides a listing of essentially the 1,000 top financial advisors in the nation. The registry screens over 16,000 advisors and only selected around 1,000 to make the cut. These 1,000 or so financial advisors are defined as 5-star advisors.
The registry was created to provide additional information to investors and an objective source for finding the appropriate financial advisor. The web site is strictly third party and entirely objective, because the site does not hold any licenses allowing them sell investments or insurance products.
The fair objectivism along with the abundance of experience and knowledge in the industry has sprung the Paladin Registry into the strictest and toughest registry for financial advisors to crack in the entire web.
Generally investors are very subjective when picking a financial advisor. Often they merely make the choice based on the advisor’s personality or people skills.
The registry was created to provide an additional source, analyzing the advisor’s competence, ethics, and business practices.
While the Paladin registry is designed to weed out the good advisors from the bad, the creator of the web site highly recommends that the investor conducts further research on the advisor.
It is also highly recommended that the investor goes against verbal information and rather requires everything is carefully documented and the benefits of the investor clearly outlined. The investor should ask the advisor to document facts about themselves and their business practices.”
Trying to find a financial advisor can be a difficult choice, but by understanding how to choose one, the decision likely will be much easier.
