ROSEVILLE, Calif., May 16, 2006 — Paladin Registry, LLC (http://www.paladinregistry.com) announced a new service for investors who use the services of financial planners and advisors. The free service evaluates the credentials, ethics, and business practices of financial professionals and issues a confidential report to investors with a quality rating.
Jack Waymire, Paladin founder and author of "Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor" (ISBN 0471476994, John Wiley & Sons, 2003), said, "This service will be an important resource for investors who are hiring advisors for the first time, are replacing advisors, or have concerns about current advisors. Our report will give them the information they need to feel comfortable with their selection or retention decision."
Waymire went on to say, "This Registry service solves several problems for investors. For example, most individuals don't know the right questions to ask advisors to determine their competence and integrity. The result is they hire the ones with the best personalities and sales skills. This is the primary reason why millions of investors fire advisors every year – they hired them for the wrong reasons."
The rating process is easy for people to use. Investors go to the Registry website and enter contact information for the advisors they want rated. Keeping the investors' identities completely confidential, Paladin contacts the advisors and attempts to obtain the information it needs to evaluate their credentials, ethics, and business practices. There are five possible ratings for advisors: (A) Excellent, (B) Good, (C) Fair, (D) Poor, and (F) Failure to Respond. When a financial planner or advisor receives a D or F rating, the Registry also issues a warning that the investors' financial futures could be at risk.
Why evaluate the credentials and business practices of current or prospective advisors? Waymire says, "All advisors market themselves as financial experts. It would be naive to think they would do anything else. At the same time, most advisors are not experts – they are sales representatives who are paid commissions to sell investment and insurance products. They are not compensated to help investors achieve their financial goals. This creates a major risk for millions of investors. They may have turned their assets over to the wrong advisors. The Registry provides an objective service that helps them determine the quality of their advisors before it's too late."
About Paladin Registry, LLC
The Paladin Registry website, http://www.paladinregistry.com, provides free public services to investors who use the services of financial planners and advisors. Its Tips-4-Investors help them avoid the risks and consequences of bad financial advice and help them select high-quality professionals. The Registry's two consultant-driven search processes help them find competent, trustworthy planners and advisors in their communities. And, its profiling service documents advisor answers to many of the most important questions that investors should be asking before they hire them.
Contact:
Jack Waymire
Paladin Registry, LLC
877-719-2022
Email
http://www.paladinregistry.com