#081: What Do All Those Advisor Designations Mean?
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 16 July 2018
⏱️ 39 minutes
🧾️ Download transcript
Summary
Many industries utilize a lot of different types of designations, and that's also true for financial advisors. What do they all mean, and should you care?
Devin asked John, "How many designations do you think there are for financial advisors?" John thinks there is really no way to know that for sure. At FINRA, one of the regulatory bodies for financial advisors, there is a page of 180 designations listed, as of today, and close to 100 of them begin with the word "Certified."
Why do these designations even exist?
Listen in for more, or read the show notes at http://bigpictureretirement.net/081
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:12.8 | Hello everyone and welcome to the Big Picture Retirement Show, |
| 0:16.1 | where we deliver insight on what you need to know for a meaningful and successful retirement. If you are |
| 0:22.5 | planning for or living in retirement, this is the show for you. Hey, John. Howdy. |
| 0:33.1 | So, John, the other day, I was looking at some property. Okay. It's property in another state. And we were using a realtor that we've used many times before. Okay. But she gets out of her car. She was driving a nice car. I think it was a Cadillac of some sort. What kind of Cadillac does Lisa drive? Is it the CTS? St.S. I don't know. It's the CTS, STS? It's the CTS. |
| 0:56.4 | That's what she was driving because I recognized. |
| 1:12.7 | I thought, man, that's a nice car. And so she gets out of it and she has a name tag on. And I thought, well, you know, I know who she is, but I guess to someone who did not. And we were going inside of a gated subdivision. And so it was nice to, you know, for those folks at the guard shack to know who she was. |
| 1:13.2 | Sure. |
| 1:11.9 | But I was looking at her name. inside of a gated subdivision, so it was nice to, you know, for those folks at the guard shack to know who she was. |
| 1:13.0 | Sure. |
| 1:13.4 | But I was looking at her name tag, and it had her name, you know, first name, last name, |
| 1:19.7 | and then just a whole bunch of initials. |
| 1:22.8 | A whole laundry list. |
| 1:24.5 | A whole alphabet soup. |
| 1:25.8 | There was a slew of initials on there, and I thought, |
| 1:28.6 | you've got to be kidding. I thought it was only my industry that had that issue of the one who has |
| 1:36.8 | the most designations win. But obviously, that's not the case. No, you see it all over. Yeah. Walk into a hospital. Oh, yes. Yes. Now that you |
| 1:47.3 | mentioned that, you're right. For the longest time, I was trying to figure out, we're walking around in |
| 1:51.8 | hospital, dealing with medical people, particularly in my profession. I run into a lot of medical |
| 1:55.3 | people. Right. And you would see letters. And so I was kind of like, you know, because again, |
| 2:00.4 | I've guessed I've got a |
... |
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