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Value of CFP?

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Dec 7, 2008 12:20 am

[quote=Hank Moody]
Mr. Prospect, why would you have a planner manage your money? Was it the planner’s idea?
[/quote]
 
duh…I think because a planner would recommend a VA in the appropriate situation, unlike say, a VA salesman, or an EIA salesman.

Dec 7, 2008 1:17 pm

[quote=Sportsfreakbob]

[quote=Hank Moody]
Mr. Prospect, why would you have a planner manage your money? Was it the planner’s idea?
[/quote]
 
duh…I think because a planner would recommend a VA in the appropriate situation, unlike say, a VA salesman, or an EIA salesman.
[/quote]

I don’t think a prospect would answer like that, “bob.”

Dec 7, 2008 2:59 pm

[quote=Hank Moody]

[quote=Sportsfreakbob]

[quote=Hank Moody]
Mr. Prospect, why would you have a planner manage your money? Was it the planner’s idea?
[/quote]
 
duh…I think because a planner would recommend a VA in the appropriate situation, unlike say, a VA salesman, or an EIA salesman.
[/quote]

I don’t think a prospect would answer like that, “bob.”
[/quote]
That was a very civil answer "Hank"
You seem to have gotten religion!

Dec 7, 2008 3:14 pm

Sportsfreak, yes, your last post to me makes me feel better. 

Dec 7, 2008 3:20 pm

[quote=anonymous]Sportsfreak, yes, your last post to me makes me feel better.  [/quote]

I’m gratified! (just kidding, dont get hot!

Dec 7, 2008 3:23 pm

[quote=Sportsfreakbob]

[quote=Hank Moody]

[quote=Sportsfreakbob]

[quote=Hank Moody]
Mr. Prospect, why would you have a planner manage your money? Was it the planner’s idea?
[/quote]
 
duh…I think because a planner would recommend a VA in the appropriate situation, unlike say, a VA salesman, or an EIA salesman.
[/quote]

I don’t think a prospect would answer like that, “bob.”
[/quote]
That was a very civil answer "Hank"
You seem to have gotten religion!
[/quote]

Yes. I’ve become a muslim.

Dec 7, 2008 9:07 pm

I wish all my clients were muslim; Their ‘religion’ will not collect interest.

  Not a lot of pressure from them LOL.
Dec 8, 2008 5:10 pm

[quote=anonymous]

Why?  Both FINRA and the SEC have basically taken the position that the term "financial advisor" doesn't have much meaning.  [/quote]  

Anonymous,<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />

 

            Your points are all valid and I agree with them.  I made a misstatement.  You are right, financial advising is only a subset of financial planning.  I am just upset with the lack of meaning that the title “financial advisor” has and I am sick sharing the title with one-trick-pony product pushers.

 

--WM

Dec 9, 2008 2:22 am

WealthManager - to your point, ever notice how whenever someone asks you what you do and you say, i’m a Financial Advisor (well maybe not you, but whoever introduces themselves as one), the person on the receiving end usually rolls their eyes and you dont have to hear them say it, but they are saying to themselves “great, another freakin stockbroker”

Dec 9, 2008 3:54 am

[quote=WealthManager][quote=anonymous]
Why?  Both FINRA and the SEC have basically taken the position that the term “financial advisor” doesn’t have much meaning.  [/quote]

 

Anonymous,

 

            Your points are all valid and I agree with them.  I made a misstatement.  You are right, financial advising is only a subset of financial planning.  I am just upset with the lack of meaning that the title “financial advisor” has and I am sick sharing the title with one-trick-pony product pushers.

 

--WM

[/quote]

That's why i call myself a "safe money specialist." I don't want to get lumped in with baby ML brokers who can't survive on their own and have to rest on the reputation of a firm with a TARNISHED NAME.
Dec 9, 2008 4:23 am
Hank Moody:


That’s why i call myself a “safe money specialist.” I don’t want to get lumped in with baby ML brokers who can’t survive on their own and have to rest on the reputation of a firm with a TARNISHED NAME.

  I am a Retirement Income Specialist.
Mar 12, 2009 6:06 pm

Hey IndyOne…  I’m a career-changer.  Just passed the CFP Exam in November 2008 and am now talking to EJ.  In your view, is this a good thing for a career-changer?  What should I be looking out for as a potential “downfall?”

Mar 12, 2009 9:02 pm

[quote=Minimus]Hey IndyOne…  I’m a career-changer.  Just passed the CFP Exam in November 2008 and am now talking to EJ.  In your view, is this a good thing for a career-changer?  What should I be looking out for as a potential “downfall?”
[/quote]


A newly minted CFP at EJ is the perfect formula for success.

Mar 12, 2009 11:08 pm
Minimus:

Hey IndyOne…  I’m a career-changer.  Just passed the CFP Exam in November 2008 and am now talking to EJ.  In your view, is this a good thing for a career-changer?  What should I be looking out for as a potential “downfall?”

  I'm not sure what your question is here...is WHAT a good thing for a career-changer? If you are asking about Jones, my general opinion of going there is that it is a fine place to learn the ropes, but you may want to keep an exit strategy in mind, just in case you start feeling confined as your skill set grows. 
Mar 13, 2009 1:39 am

Both Indy & Blitz - Sorry I could not have been more specific in my question (had to run to a meeting), but you both answered my question.  Thank you.

Mar 14, 2009 5:52 pm
Sportsfreakbob:

WealthManager - to your point, ever notice how whenever someone asks you what you do and you say, i’m a Financial Advisor (well maybe not you, but whoever introduces themselves as one), the person on the receiving end usually rolls their eyes and you dont have to hear them say it, but they are saying to themselves “great, another freakin stockbroker”

  I proudly tell people I'm a stock broker. It still has a touch of wow to it where IMHO using financial planner or wealth management makes people want to grab their wallet and run.   Try it, when you say it the first thing most ask is what they should buy.
Mar 14, 2009 5:54 pm

I think that people that have earned their CFP deserve a good handshake. BUT, I have never had anybody ask me if I was a CFP.

Mar 15, 2009 11:27 pm

[quote=Gaddock]I think that people that have earned their CFP deserve a good handshake. BUT, I have never had anybody ask me if I was a CFP. [/quote]


Why take a chance on getting Piker Virus on your hands?

Mar 16, 2009 7:30 pm

[quote=Hank Moody]

[quote=rockstar1]Take this with a grain of salt, but supposedly Smith Barney keeps statistics on this.



According to our management, in the first 12 months after earning the CFP designation the median new Smith Barney CFP’s gross production goes up 40%.



That’s a big number. 40%.



As to why, I can’t say cuz I am not there yet. My guess is that the increased knowledge leads to more credibility, bigger tickets through planning (INSURANCE!!), and more referrals from CPAs and attorneys.



I will be sitting next July, so I will let you know once I get there.

[/quote]Going from $50,000 to $70,000 is not that big of a deal. [/quote]





Hank - He said Smith Barney, not EDJ.