Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What they do depends on your relationship with them. The could plan, monitor, recoomended, manage etc. why don't you simply google "what do cfps do?"
I would, but the internet contains too much information that is potentially inaccurate or outdated. I thought I'd rather ask somebody that is in the business. And for the insight, thank you all.
CFP is simply a designation- some may have to take an exam to obtain but others with Series 7,63, & 65 with some many years in the business can obtain without exam. It really is an ad to try and increase revenues from current advisors that do not have the CFP designation. Just about money really- does not change for an advisor. Just like any other commercial trying to get someone to buy something.
Most "fee-only" advisors DO NOT earn commissions and this will be disclosed in the RIA's ADV Brochure that's why they are fee only meaning they charge either an hourly rate or a flat rate per job. Every investor should check the investment advisor they are working with thru the FINRA Broker Check website. With so many smoke & mirrors in the business it makes a lot of sense to work with a fee only advisor- someone that only has your interests in mind. Hope this helps
I haven't seen anyone be granted the cfp just on experience anymore.
The adv disclosure isn't just for fee only or flat rate advisors. All my advisors who charge quarterly fees for management have the disclosure but can also charge commission in other non advisory accounts door the same clients. The fee only push is shortsighted any usually touted by people that really don't have much experience in the business
or have a post without the word annuity which he does not understand the utilization of or the concept of ..
Another insurance salesman troll speaks out. You and lowerexpectations spend way too much time trolling the investment forums here. Do you spend every day one here? I checked in here for the first time in 2 weeks and sure enough, there's MathJack and LowKnowledge.
Another insurance salesman troll speaks out. You and lowerexpectations spend way too much time trolling the investment forums here. Do you spend every day one here? I checked in here for the first time in 2 weeks and sure enough, there's MathJack and LowKnowledge.
Neither one of us sells insurance. Being better educated on a topic doesn't mean you sell said topic
The way you defend annuities and your ignorant responses to other topics has demonstrated that you are willfully ignorant about investing.
I just try to defend others from the bs you spew
Quote:
Originally Posted by Big-Bucks
That's what I mean. I don't trust CFP's. I would trust an RIA.
You don't even know what you talking about. Ria's can be commission, or cfp, fee only or a combination there of
Quote:
Agents of the RIA who are charged with providing investment advice are called an "Investment Adviser Representative" (IAR). These IARs must generally complete The Uniform Investment Adviser Law Examination (see List of securities examinations) known as the Series 65 Exam, or by meeting the exam waiver requirement by holding one or more of the following pre-qualifying designations; Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC); Personal Financial Specialist (PFS), Chartered Financial Analyst (CFA), or Chartered Investment Counselor (CIC).[20][21]
I wouldn't trust any CFP or other financial advisor (especially if they are commission based) for specific investment advice without being able to independently verify their track record see the results their advisory services have produced for clients. I doubt that many, if any, of them consistently beat the indexes. Even the best/largest mutual funds and hedge funds run by extremely qualified fund managers don't.
I wouldn't trust any CFP or other financial advisor (especially if they are commission based) for specific investment advice without being able to independently verify their track record see the results their advisory services have produced for clients. I doubt that many, if any, of them consistently beat the indexes. Even the best/largest mutual funds and hedge funds run by extremely qualified fund managers don't.
It's not their job to beat the indexes. It's their job to put clients into investments that make sense for their particular circumstances and risk tolerance.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
