Who's Minding Your Money? Memphis, Tenn.-Based Financial Advisor Passes National Screening

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The push for reform on Wall Street has led to the evolution of a hundred or so new professional designations for financial advisors. Some of those endorsements can be earned with minimal or no study and several hundred dollars, yet advisors can use these designations to market themselves and win a potential client’s trust. When you want to make sure the person handling your finances is qualified and ethical, how can you really tell? Paladin Registry (http://www.paladinregistry.com), an independent company that has been providing information services to investors since 2003, screens financial advisors, rates their qualifications and documents their credentials through a background-checking process called Financial Advisor Due Diligence (FADD™).

Financial advisor Charles Auerbach, founder of Cordova, Tenn.-based Wealth Strategies Group, Inc. and member of Paladin Registry, volunteered to undergo the vigorous screening and successfully completed the process.

ABOUT FINANCIAL ADVISOR DUE DILIGENCE (FADD™) BY PALADIN
Financial advisors join Paladin for potential investors interested in researching financial advisors. Paladin encourages its members to undergo Financial Advisor Due Diligence (FADD™) to authenticate the claims appearing on individual profiles. The verification process focuses specifically on information related to education, experience and ethics. Researchers investigate compliance records, certifications, consumer complaints, personal financial history and more. Consumers can be confident that advisors who are FADD™ certified are conscientious when it comes to earning investors’ trust.

ABOUT THE NEED FOR CLOSER SCRUTINY
Without this kind of screening, investors can make mistakes when their only source of information for financial advisor credentials, ethics, and business practices is advisors who want to sell them investment products and services.

ABOUT CHARLES AUERBACH, CFP®, CLU, ChFC, EA
Charles Auerbach is a Certified Financial Planner™, Chartered Financial Consultant, Enrolled Agent with the IRS, and Accredited Tax Advisor. In 2009 he was featured among Business Week’s Top 50 Independent Financial Advisors*. In 2005 Paladin awarded him a five-star quality rating**, the highest degree of distinction used to identify the top 7 percent of some 16,000 advisors (as of September 23, 2008). Thirty five years of experience in accounting, tax compliance and financial services have given him valuable insight into the challenges faced by higher net worth individuals and families. He specializes in a comprehensive approach to planning designed to help clients preserve and maximize wealth. To find out more about Auerbach and Wealth Strategies Group, visit http://www.wealthstrategiesgrouptn.com or call 901-473-9000.

  • To find the most experienced advisors, Business Week teamed up with the Paladin Registry, a service to vet advisors. Paladin founder Jack Waymire combed his database of more than 1,000 independent financial advisors who are scored on a 100-point system. Advisors receive the maximum number of points for 15 years of experience as well as for holding two major certifications, such as Chartered Financial Analyst and Certified Financial Planner™. To be included in the registry, advisors need to be independent and fees must be the primary form of compensation. For more information on certifications, visit the Business Week Certifications for Financial Advisors Playbook.
  • The Paladin Five-Star Rating is given to advisors based on an algorithm that takes into account an advisor’s credentials, ethics, business practices & wealth management services. To be eligible for the Five-Star Rating an Advisor must be an Investment Advisor Representative, must have a clean compliance record, must charge on a fee-based or fee-only basis for Investment Advice and must have at least 5 years of financial planning experience.

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Beth Clark
Wealth Strategies Group
1.800.401.5525 ext. 207
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