Episode 19: Cracking the Code of Financial Advisor Designations
In this episode of The Retirement Detective Podcast, I dive into the varying levels of rigor among financial advisor designations. With over 200 different designations being "claimed" out there, not all of them are created equally. Some designations are extremely rigorous and take years to complete, while others may only require a short test after a short webinar. I stress the importance of investors understanding what these designations mean and assessing whether they are satisfied with their advisor's designation. In this episode, we walk listeners through some of the most common designations and provides insight into their levels of rigor and what they may indicate about an advisor's expertise. The designations discussed in this episode include: the CDFA, CTFA, ChFC, CPA, CFA, CFP, AAMS and AIF, but as noted, there are many more out there.
I believe that it's crucial for individuals to understand the different designations when working with an advisor or when interviewing potential advisors. We'll lastly discuss a tool that individuals can use to look up what designations mean and assess whether it's the sort of designation they're happy with their advisor having.
Links mentioned in episode:
Check out our website! https://www.retirementdetective.com/
FINRA Broker Check: https://brokercheck.finra.org/
SEC IAPD: https://adviserinfo.sec.gov/
FINRA Professional Designation Search: https://www.finra.org/investors/professional-designations