Comments on: GAO: Financial Planners Don’t Need More Regulating

By: Lola

Lola — Mon, 24 Jan 2011 11:52:34 +0000

Foget funds. Just asset allocate.

By: Lola

Lola — Mon, 24 Jan 2011 11:51:50 +0000

Now hang on a minute. I am a ‘financial planner’ – but I only learned that was what I was doing when the ‘financial planning institutions’ told me that was what I was doing. I wasn’t a ‘qualified financial planner’ and I am still resisting that thought controlling process. And, I reckon I try and do a good job. Basically I ‘adjust the information assymetry’ between the State, the financial institions and the economics, and the client. I am UK based but I have met several US FP’s who are not all corrupt of hucksters.

By: Wood

Wood — Thu, 20 Jan 2011 17:09:53 +0000

Cool, money doctors.

By: Bogart

Bogart — Thu, 20 Jan 2011 14:23:02 +0000

Jim: You should be thrilled. These certifications are simply mechanisms to limit competition. After you limit competition then these boards will consolidate to form one lobbying organization with the Feds. At that point you can ring the register. You will now have power to tell individuals how they can manage their money even if they choose to do so differently simply by having legislators insert little paragraphs into the thousands of pages of bills.Granted as a professional who has to beat the competition and provided value to customers you will be castrated on that end. But it is free money!!!!!!! What was the old show: Mo Money. They just had it wrong when dealing with the government that is all.

By: Matthew Swaringen

Matthew Swaringen — Thu, 20 Jan 2011 03:25:54 +0000

Same deal here. It’s so terrible to find out I’m unprofessional

By: Jim

Jim — Thu, 20 Jan 2011 03:14:54 +0000

Why can’t my Chartered Retirement Planning Counselor (CRPC) designation, university degree, and experience demonstrate my proficiency? Please, no more regulations. They already have it so that I can’t go a day without breaking a dozen rules.

To the comments above, we do a lot more than pick stocks. In fact, I wouldn’t trust a stock picking advisor, as becoming halfway decent at picking individual securities takes tons of time. If the advisor is doing his/her job, they don’t have the time to become expert stock-pickers. I’ll stick with funds.

By: HL

HL — Thu, 20 Jan 2011 00:36:24 +0000

Trying to find a financial planner who is not a shyster and huckster is like looking for virtuous woman in a whorehouse.

By: J. Murray

J. Murray — Wed, 19 Jan 2011 22:49:50 +0000

Don’t fret, the rest of us dirty amateurs are in the same boat.

By: Bogart

Bogart — Wed, 19 Jan 2011 22:37:19 +0000

I guess that I am not an IT Professional or Computer Programmer or Systems Analyst, etc because some bureaucrat has not said so. I guess I should start looking for another job in one of the two professions approved by a bureaucrat so far in my career: unemployed and military officer.

By: J. Murray

J. Murray — Wed, 19 Jan 2011 21:45:59 +0000

Even if they somehow turn "professional", it won't change the fact that they'll still be just as effective as randomly tossing darts at a listing of stock quotes to buy and sell.