If They're Not a CFP® Pro, You Just Don't Know.

 

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A FAKE FINANCIAL FIRM, A MAN WITH ZERO FINANCIAL EXPERIENCE AND SIX HIDDEN CAMERAS.

 

The fact is, anyone can claim to be a financial advisor. To underscore the inherent problem with this, we recently conducted an informal experiment. Would real people possibly mistake someone completely unqualified to handle their finances for a qualified financial advisor?



 

To pull it off, we established a faux financial firm on the 48th floor of a prominent office building. The firm’s key feature? A conference room constructed with fake walls, two-way mirrors and six hidden cameras. Once we were properly set up, we invited real people to receive a brief presentation from a man claiming to be a financial advisor. In actuality, he was a professional DJ equipped with little more than a few financial-sounding phrases and a personable demeanor .


Azmyth said goodbye to 14 years of dreadlocks to help us conduct our little experiment. Now that’s commitment.




 

So, would anyone fall for the ruse? The answer was a surprising yes. Not only did the majority of people believe they were meeting with a real financial advisor, many described him as being knowledgeable, capable and trustworthy.

Clearly the experiment makes a very serious point. If you’re not partnering with someone who’s thoroughly vetted, do you really know who you’re working with?

 

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TRY IT FOR YOURSELF.

Think you would’ve suspected something was off? Perhaps. Then again, perhaps not. Here’s a quick mini-experiment to try right now. Looking at the two photos below, can you tell right off the bat which person is not a qualified financial advisor? Make your choice and then scroll down to see the answer.

 

WHO IS NOT A QUALIFIED FINANCIAL ADVISOR?



Scroll down for answer.
 
 

The Answer is A.

Surprise. She's actually a tattoo model.

 

Here, try one more.


Who is not a qualified financial advisor?

 

Scroll down for answer.


The Answer is B.

Ahoy. He's actually a commercial fisherman.

If you picked the right one, congratulations. Now then, would you stake your entire financial future on making such a guess correctly? Probably not.

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