Sacramento, CA (PRWEB) July 27, 2005
Paladin Registry, LLC announced a new rating system for financial planners, advisors, and investment managers.
Paladin ratings measure the competency, ethics and business practices of financial professionals. Ratings range from no-stars to five stars. Advisors with three, four, and five star ratings are eligible for admittance to the Paladin Registry, http://www.paladinregistry.com, a free online service that matches investors with high quality professionals.
Jack Waymire, founder of Paladin and author of WhoÂs Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor said Âvery few investors know the critical differences between high and low quality advisors. Consequently, they select advisors with the best personalities and sales skills versus the ones with the highest levels of competence, integrity, and investor-friendly business practices. This happens for two reasons. First, advisors use their personalities to develop relationships and sales skills to market themselves as financial experts, even when itÂs not true. Second, the only way investors can protect themselves from these unscrupulous tactics is to know the right questions to ask. Unfortunately, most investors donÂt know what to ask and they donÂt know good answers from bad ones. The all too frequent result is they hire advisors for the wrong reasons and fire them a few years later when they realize they made a mistake. Then investors hire new advisors using the same selection process, not realizing the process is the source of their problemÂ.
Waymire went on to say ÂBad advice is a major source of risk for investors and Paladin ratings will reduce their exposure to this risk. PaladinÂs ultimate goal is to change the way investors select advisors by providing objective information they can rely on to hire financial professionals for the right reasons. Ratings are an important component of this service because they give investors easy-to-use reference points that compare advisorsÂ qualifications to their peers. Ratings also help investors avoid weak advisors who lack the credentials to help them achieve their financial goals. In the future, investors will have a clear-cut choice: select rated, documented professionals using an objective process or undocumented advisors who may be sales reps masquerading as financial experts. Documented advisors with higher ratings will emerge as the safer choiceÂ.
About Paladin Registry, LLC
Paladin is an independent, information services company that provides investor education programs, documents the credentials, ethics, and business practices of financial professionals who provide wealth management services, validates the documentation with ratings, and provides investors with a free matching service for finding, screening, evaluating, and selecting advisors. The URL for PaladinÂs website is http://www.paladinregistry.com.
For more information about PaladinÂs Rating and Registry services, contact:
Founder & Author
Paladin Registry, LLC