What credentials do you have and what do those credentials mean?
What is your religion?
How are you compensated?
Will you provide references that I can contact and talk to?
Do you validate parking?
When do you plan to retire?
What advisor or company do your friends use?
Does your employer offer a 401(k)?
What is your risk tolerance?
What are your retirement plans, goals and needs?
Choose a Financial Planner
Concealed Firearms Permit
Certified Financial Planner
Consumer Financial Planning
Corporate Financial Plan
None of the above
None of the above; they are all trained in financial services.
The expected growth is only a projection
The recommendations have the consumer’s best interests in mind
The risk is clearly explained
The advisor has years of training and is qualified to make a recommendation
Using the “cut and paste” technique
Retyping sentences word for word
Gleaning useful data, then crafting that into your own response
None of the above. Money Coaches should rarely use Web sites since they are all biased.
Using the “cut and paste” technique for the entire Q&A
Recopying sentences word for word where applicable
Gleaning useful data, then crafting that into your own response to avoid plagiarizing
None of the above. Money Coaches should rarely use the LFE Library since the response probably won’t answer their specific question.
Proceed with caution
Review their recommendations every six months
Sue for neglectful behavior
Use a retail Credit Counselor instead
"I have a hot tip on a once-in-a-lifetime opportunity!"
"We can guarantee you will not lose money!"
"I require the discretion to trade in your account without prior permission."
Unsolicited letters or e-mail offers
2 years of training
Pass complex exams
Must study the tax implications of investment strategies
Required to obtain a CFP License
None of the above. No specific training is required.
Many of the products they sell are sold as retirement vehicles
They must pass strict retirement planning tests
Cash value life insurance is a great retirement investment
They must study the tax implications of investment strategies
None of the above. Insurance agents do NOT make good retirement specialists.
Offer the best investments to those employees
Cover the topics included in the SOX guidelines
Do not stand to benefit from the education (other than getting paid just for the education)
Talk about the tax benefits of the company’s 401(k)
Are able to sell investment products to employees
Are largely waiting until the guidelines are more clearly defined
Are now required to teach employees how to select the best financial advisor to work with
Must cover insurance investments in their training