Some professionals receive both types of compensation.
Salesmen are compensated with commissions. Method(s) of Compensation: A critical variable when you select a financial advisor. Number of Current Clients: An indicator for the scope of an advisor or firm’s current business.Īssets Under Management or Advisement: An indicator for the scope of an advisor or firm’s current business. Some advisors will work with anyone who would benefit from their services. Advisors with smaller practices tend to have lower minimums. Advisors with bigger practices tend to have higher minimums. Minimum Asset Requirement: A high percentage of financial advisors have minimum asset requirements for new clients. Compare philosophies and select the one that has the highest probability of helping you achieve your financial goals. This makes philosophy a differentiating characteristic. How does the advisor’s business practices compare to other professionals you are considering?īusiness Philosophy: Every advisor has a business philosophy. Part VII describes the advisor’s business and practices. Links: Click on these links to view additional information about advisors and firms on third party websites. These documents provide valuable information about advisory firms. Salesmen are held to lower ethical standards that do not require them to put your financial interests first.Ĭompliance Record (Investment): Does an advisor or firm have disclosures on compliance records that are maintained by, SEC.gov, or your state’s Securities Commissioner?Ĭompliance Record (Insurance): Does an advisor or firm have disclosures on compliance records that are maintained by your state’s Insurance Commissioner?Ĭriminal Disclosures: It may be hard to believe, but convicted felons can obtain securities licenses if their crimes were not securities related.Īdditional Disclosures: Advisors and firms have the option of providing additional disclosures that are published on their Paladin Research Reports.ĪDVs: RIAs file ADVs with the Securities and Exchange Commission.
Make sure the advisor is properly licensed before you buy.įinancial Fiduciary: RIAs and IARs are fiduciaries who are held to the highest ethical standards in the financial service industry. State Licensing: Make sure the advisor is licensed to sell investment and insurance products in your state.
#KEIL FINANCIAL PARTNERS REGISTRATION#
Registration & License Numbers: Use the advisor and firm’s registration and license numbers to check compliance records at:, SEC.gov, your State’s Securities Commissioner, and your State’s Insurance Commissioner. Industry Licenses: These licenses permit advisors to sell investment and insurance products for commissions. RIAs with more than $100 million of assets register with the Securities and Exchange Commission. Type of Registration: RIAs with less than $100 million of assets register with your state’s Securities Commissioner.
Registration: Only Registered Investment Advisors (firms) and Investment Advisor Representatives (professionals) can provide financial advice and ongoing services for fees.
Tip: Real experts have good educations, years of experience, and high quality certifications and designations. Some of these professionals may impact your financial results. 35% of certifications are fake (Source: Paladin Research).Īssociations: Membership in quality associations can also be a source of specialized knowledge if the organizations have continuing education requirements.įirm Credentials: Some advisors represent firms that employ or license multiple professionals. Some certifications are extremely valuable (CFA, CFP, CIMA, CPA). Some advisors buy degrees to appear more knowledgeable than they really are.Ĭertifications: Also called designations, certifications are the best way for advisors to acquire specialized knowledge in shorter time periods. Use the Internet to research schools you may not have heard of. Real experts have valid, documented credentials that include degrees, experience, and high quality certifications.Įxperience: Years of experience is the best way for advisors to become real financial experts.Įducation: Degrees should be from accredited institutions. You want a real expert with documented credentials helping you plan your financial future and invest your assets in the securities markets.
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