by Jack Waymire
Jack Waymire spent 28 years in the financial services industry. For 21 of those years as the president of a Registered Investment Advisory firm that licensed hundreds of financial advisors and provided services to 50,000 investors. This role gave him a bird’s eye view of how industry professionals sold and serviced financial services and products.
Then the stock market crashed in 2000-2002 due to another Wall Street manufactured bubble (dotcoms, telecommunications) that burst when $300 stocks, that had no earnings, dropped to ten cents a share. Waymire watched several of his friends lose half of their assets due to bad, tainted, and fraudulent financial advice.
As a result of this experience Jack decided to write a book that would help investors select high quality financial advisors and avoid advisors who masqueraded as financial experts. His book, Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor, was published by John Wiley & Sons in December 2003. Waymire decided to leave the financial services industry a few months later to promote his book and build a website that was based on the Principles in his book.
Registry of Financial Professionals
Jack Waymire launched the website in April 2004. During a talk show in Chicago the host suggested he add a Registry to his website that profiled pre-screened financial planners and financial advisors using his book’s Principles. A second version of the website was rolled out in October 2004 with a Registry that profiled 300 pre-screened, five star rated financial planners and financial advisors.
Waymire then spent the next few years matching investors to advisors who were profiled in the Registry. He helped thousands of investors select high quality advisors and avoid low quality advisors. Then along came the stock market crash of 2008. This crash was the result of the toxic mortgage bubble that Wall Street manufactured to maximize its revenues and executive bonuses. Again! A high percentage of Americans lost half their assets, but this time they also lost their homes and jobs.
Jack Waymire’s reaction was to start a second website, InvestorWatchdog.com that commented on Wall Street business practices. He used the website to publish articles that were critical of the greed and corruption that dominated Wall Street. His goal was to educate investors about fraud and manipulative business practices so they could avoid them.
Jack Waymire took the Paladin website (www.PaladinRegistry.com) to a new level in 2013 when he added a menu of high value services for investors who use the services of financial advisors. No other website offers this combination of services. There are services for investors who are looking for advisors, researching advisors they already know, monitoring current advisors, and replacing underperforming advisors.
As its tenth anniversary approaches Paladin is committed to delivering increasing value to investors who get it. These investors do not sit back and hope everything turns out ok. They have too much at stake. Consequently, they are more proactive and Paladin provides the tools that help them make better decisions for their assets. That is, they use Paladin services to help them do a better job when they select, retain, and replace financial advisors.
Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack’s first book: “Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor.”
The Registry also has a free service that matches investors to advisors who meet Paladin’s minimum requirements for competence and trustworthiness.
Other posts from Jack Waymire
The world’s first financial advisor directory was the Yellow Pages®. All you had to do was thumb through...
Your first step is to determine the criteria you will use to identify and select the best financial...
A Benchmark is a performance goal. Your advisor is paid to produce results that beat the performance of...