Paladin Advisor Research (www.PaladinRegistry.com) rates the quality of financial advisors who are Registered Investment Advisors or Investment Advisor Representatives. Paladin also rates the quality of stockbrokers or insurance agents who sell financial products for commissions.
Paladin’s proprietary rating algorithm is based on the principles in a book that was authored by Jack Waymire, Paladin’s founder: Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor. The algorithm in the book focused on four categories of advisor information: Credentials, Ethics, Business Practices, and Financial Services.
The most important financial advisor credential is years of experience. Planning and investment advisory experience is more important than selling experience. Next, are certifications that represent sources of specialized financial knowledge. The best credentials are CFA®, CIMA®, CFP®, and CPA®. Paladin developed a Check a Credential service that investors use to determine the quality of advisor credentials – 35% are fake or discontinued. Third is education, in particular degrees with majors that increase the financial knowledge of advisors. […]