Third-party rankings and recognition from publications are no
guarantee of future investment success. Working with a highly rated advisor does
not ensure that a client or prospective client will experience a higher level of
performance or results. Generally, ratings, rankings and recognition are based
on information prepared and submitted by the advisor and not all investment
advisors participate in the process. A more thorough disclosure of the criteria
used in making these rankings is available through each
publication.
MICHAEL J. CHASNOFF HAS BEEN ADMITTED TO THE PALADIN REGISTRY
Paladin announced that Michael J. Chasnoff has been admitted to the Registry and has been awarded Paladin’s Five Star quality designation. Planners and advisors must rank in the top 10% of their profession
to be admitted to the Registry.
The Paladin Registry provides free public services to investors who use the services of financial planners and advisors. Since its inception, more than 250,000 investors have used the Registry to learn how to avoid bad financial advice, to learn how to select high quality advisors, to find competent, trustworthy professionals, to rate current advisors, and to review advisor documentation for credentials, ethics, and business practices.
Jack Waymire, Paladin founder and author of the highly regarded book Who’s
Watching Your Money? The 17 Paladin Principles for Selecting a Financial
Advisor (ISBN 0471476994, John Wiley & Sons, December, 2003) said
“Registry services solve three major problems for investors who rely on planners
and advisors to achieve their financial goals. First, it’s not easy for investors to
find high quality advisors. Second, when they find advisors they may not know
the right questions to ask to determine their quality. And third, they may not know
good answers from bad ones. Consequently, millions of investors hire the wrong
advisors for the wrong reasons and fire them within two years.”
Waymire went on to say, “The Registry solves the quality problem by having the
highest minimum standards in the financial services industry. Planners and
advisors must complete a comprehensive questionnaire and score in the top
10% of their profession to be admitted to the Registry. In addition, they must be
Registered Investment Advisors (RIAs) or Investment Advisor Representatives
(IARs), acknowledge their fiduciary status, provide independent advice, and work
for fees.”
Waymire confirmed that only a small percentage of practicing planners and
advisors can meet the Registry’s strict requirements. He said “We focus on the
top tier of professionals who are paid to help investors achieve their financial
goals. We exclude the bottom 90% who are frequently paid commissions to sell
investment and insurance products. Anyone who isn’t paid to help investors
achieve their financial goals is a potential risk.”
He added, “This risk exists because the financial services industry has no
minimum standards for advisors. There are no education requirements, not even
a high school diploma, and no experience requirements. In fact, 18 year olds and
people with criminal records can obtain securities licenses. The combination of
no real standards and no disclosure requirements create a major risk for
investors and the Paladin Registry is one of the few resources that help them
avoid the risk.”
About Paladin Registry, LLC
Paladin is an information services company and not a financial services
company. The Registry provides free public services to investors who use the
services of financial planners and advisors. The four primary services are
investor education, advisor search, advisor ratings, and advisor documentation.
Visit Paladin’s website at www.paladinregistry.com for additional information.
About Michael J. Chasnoff
Michael J. Chasnoff has been providing wealth management services in Cincinnati for the past 22 years. He has earned certifications and designations in addition to his five star status in the Paladin Registry.