Today we had an interesting discussion with a new sign-up that allowed us to recognize the difference between AdvisorCheck and ‘other’ organizations.  Our sign-up had multiple liens, judgments and civil action when we ran their credit report.  Two of the liens were outstanding and one judgment was outstanding.  When we called the sign-up to clarify these results, they claimed that these were personal finance issues and not related to their professional financial advice. The sign-up noted that they are already a member of another ‘organization’ that did not report these issues because they were not business related.

This is what separates AdvisorCheck from the other guys.  We cater to the needs of today’s consumer, those that would need and want this type of information prior to making any significant financial decisions.  Had this particular individual attempted to acquire a securities license, they would have been immediately turned down because of these past issues.  Yet this same person would be considered approved with other organizations.

We provide consumers with an advisor’s personal financial history because there can be a direct relationship between personal and professional financial performance and adequacy.  Think about this:  would you knowingly invest your money or take advice from someone who’s had previous troubles like the sign-up we spoke with today?  Chances are, you’re more likely to go with someone who practices what they preach.