Hello everyone, there are many different types of professionals that our clients use as part of their financial team. This vlog will expand on different types of credentials and how you can choose the right professional for your needs. The most common types of professionals that people look for help with their finances are financial advisors, tax advisors, insurance brokers, estate planning attorneys, or elder law attorneys.
The SEC now requires that anyone who calls themselves a “Financial Advisor” or “Financial Planner” must have a FINRA Series 65 or Series 66 license, or certain professional designations such as CFA, CFP, that require them to abide by a fiduciary standard. There are other types of investment licenses such as a Series 6 or Series 7. But people who have passed those exams without a Series 65 or 66 are only allowed to sell you securities products. They are not allowed to provide investment advice.
If a person refers to themselves as a “Financial Consultant” or “Financial Professional”, they may not be allowed to provide investment advice and may only be allowed to sell you a product for a commission. So be cautious that you are choosing the right type of license for the advice services you need.
We here at Kramer Wealth Managers, encourage you to ask your financial professionals to ensure that they do have proper credentials, licensure, or registrations. Don’t be afraid to ask questions and make sure they are the right fit for the type of services you need.
We have developed a list of professionals in many states that are either fluent in ASL or have experience working with deaf clients through an interpreter. We want our clients to work with professionals who can help you to establish, build on, and support your financial goals. Feel free to contact us if you have any questions. We would be happy to discuss more with you.
