The Financial Industry Regulatory Authority Inc. (FINRA) issued a warning, along with the results of a survey of 157 member firms, which questioned the approval process and oversight of "senior" or "retirement-related" designations.
Finra's notice is one in a long-running dispute over the use of "senior" accreditations and designations. A few years ago regulators became concerned about the growing number of free seminars given by insurance agents and others who sported impressive-sounding designations targeted at retirees, and who offerred a free lunch or dinner as a marketing draw.
Some financial planners have a great deal of experience with issues of retirement and the elderly, and others do not. Taking a course for an accreditation may or may not indicate a substantial level of knowledge.
An article further discussion this issue is an article from Investment News which is referenced below.
-Todd
http://www.investmentnews.com/article/20111120/REG/311209989/-1/INIssueAlert01
Comments