I have often heard financial planners complain that they are financial advisors and not business men (or women). That is why I have been surprised lately to hear a number of financial planners lament that they are financial advisors, not internet search engine optimization experts.

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There has been a lot of controversy lately surrounding how and who may provide investment advice. The Securities and Exchange Commission (SEC) promulgated a rule that exempted fee-based brokers from registering as “registered investment advisors” (i.e., the Merrill Lynch rule). The Financial Planning Association has subsequently filed a lawsuit against the SEC challenging the rule. So what is all of the fuss about? Read the rest! »

In the ideal world all financial advisors would have mastered the financial strategies and understand the mechanics of wealth before they start out in the financial planning business. That is just not the case in the real world. This post will state a lot of generalizations (based on my years of working in this business) about how financial planners enter and progress in the financial planning profession. Read the rest! »

After eleven years of working for various brokerage firms, I recently started my own firm and registered as an investment advisor (RIA). The RIA is the only means of doing business that allows the use of the term financial planner. The RIA is also the only form of business that holds financial planners to a higher standard than stockbrokers or unregistered financial advisors. Read the rest! »