Common Sense Methods Of Finding A Good Financial Planner

The best option is to work strictly by referral. What you should be looking for is a referral from someone that you know personally that has a long term relationship of five years or longer with a financial planner. It makes a lot of sense to additionally contact your state and make sure that they are licensed to practice and have no significant complaints. Don't assume that simply because they say they are a Christian that they are ethical and follow good business practices. Some dishonest operators use the 'Christian label' as part of their scam.

You can also check with the national regulatory bodies as well:

North American Securities Administrators Association

Financial Industry Regulatory Authority

U.S. Securities and Exchange Commission

What Can Be A Tip Off To A Bad Adviser

  • Promises of unrealistic returns
  • Seems to tell you what you want to hear (does not point out risk and other unpopular realities of investing)
  • An individual that pressures you to make a quick decision
  • Quick to criticize your current adviser and investments
  • Recommendations to invest in unorthodox opportunities

Why It Is Not A Good Idea To Have All Your Money With One Adviser

In a word; Madoff. This guy had it all - references, education, and a stellar background. But he turned out to be a scam artist. After Madoff (and now the countless so-called 'mini Madoffs' that have been uncovered) I don't think that anyone should keep all of their investments with one firm. Read this article from Bob Yetman on How To Spot A Scary Financial Adviser.

Check out our new directory of Christian Financial Advisers. We hope that this will be a useful resource for those seeking advice in their pursuit of good stewardship. Although our new directory will be a great resource for Christians and Christian financial planners to make a connection, we would still encourage you to complete your due diligence prior to making any investments or hiring an adviser.

This article appeared originally on Used with permission.

James L. Paris is the author of more than 20 books including Living Financially Free, Money Management For Those Who Don't Have Any, and The 100 Best Investments For Your Retirement. Paris is the Editor In Chief of the website He regularly appears as a guest on radio and TV as a financial commentator. He has appeared on The 700 Club, Moody Radio, Point Of View, Life Today, Fox News Channel, and countless other media outlets.

He is an avid sailor, trumpet player, and black belt practitioner of Tae Kwon Do. He has three adult children and lives with his Wife Ann in Palm Coast, FL.

Publication date: February 18, 2013