New Paladin Research & Registry Credential Rating Service Exposes Financial Advisors Who Use Fake Certifications
SACRAMENTO, Calif., Sept. 18, 2013 /PRNewswire/ -- Paladin Research & Registry (www.PaladinRegistry.com) announced the launch of a powerful new online service that investors can use to check the quality of more than 260 financial advisor certifications and designations. Paladin's Check a Credential service is free and there is no registration requirement to use it.
Jack Waymire, Paladin's founder, said: "Some financial advisors spend years acquiring high-quality credentials that increase their expertise. Other advisors buy fake credentials that they use to deceive investors into believing they are financial experts. Very few investors know the critical differences between real and fake credentials. They assume credentials are legitimate or the advisors wouldn't be using them. But, they are dangerously wrong. There are no industry regulations that protect investors from this deceptive sales practice."
This Paladin service is a serious game changer. In a couple of minutes investors can view quality ratings and avoid bad advisors who use fake or weak credentials. The Check a Credential service provides a one-page report that documents a certification's sponsor, prerequisites, curriculum, testing, and continuing education requirements. Then a Paladin algorithm calculates a peer group quality rating. The ratings range from Warnings (scams) to 5 Stars (Best). All investors do is input the certification's initials and read the report. Paladin's quality rating makes it easy to compare certifications to each other.
There are four certifications that rank above all of the rest: CFA® (Chartered Financial Analyst™), CIMA® (Certified Investment Management Analyst™), CFP® (Certified Financial Planner™), and CPA® (Certified Public Accountant™). 35% of CPAs currently provide financial planning advice.
Waymire added, "No investor would knowingly select a financial advisor who used deception to gain control of his or her retirement assets. Investors want real experts who have specialized knowledge that helps them achieve their goals of secure, comfortable retirements. Their biggest risk is unethical advisors who use sleazy sales tactics to look like knowledgeable experts. They use deception because investors would not buy what they are selling if they told the truth. They should be kicked out of the financial service industry."
About Paladin Research & Registry
Paladin was established in 2003 to provide independent research, tools, and services to investors who rely on financial advisors to help them invest their retirement assets.
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SOURCE Paladin Research & Registry