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CHECKING OUT FINANCIAL PLANNERS

Charles Schwartz (Serials Librarian, Trenton Stale College, New Jersey.)

The Bottom Line

ISSN: 0888-045X

Article publication date: 1 January 1991

Abstract

Financial planning may be a leading growth industry, but it has little regulation. Although the majority of financial planners are legitimate, the potential for trouble is there. Almost anyone can hang up a sign that proclaims he or she is in the business. Even the number of financial planners in existence is open to doubt because the process of certification is so loose. As a result, the extent of enforcement actions and the amount of investor losses have increased considerably. Statistics from 1986 — the most recent data available—show that 22,100 investors lost more than $396 million in that year. We all need to be alert to the possibilities of fraud and to what to look for when a financial planner is sought.

Citation

Schwartz, C. (1991), "CHECKING OUT FINANCIAL PLANNERS", The Bottom Line, Vol. 4 No. 1, pp. 33-33. https://doi.org/10.1108/eb025274

Publisher

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MCB UP Ltd

Copyright © 1991, MCB UP Limited