Confusing Titles and the Solution PDF Print E-mail
Written by Wilfred Ling    Tuesday, 27 August 2013

Someone told me that the titles held by financial advisers are so confusing. In fact, only a few of these titles are regulated by the Financial Advisers Act. Most of these fancy titles are unregulated. For example, anyone can call themselves Senior Financial Consultant or Investment Specialist. But not everyone can call themselves Appointed Representative – which is a term not even used! The following is a table that summaries the confusion and I have a proposal on how to solve this confusion below:

Terminology / Titles

Meaning under the Financial Advisers Act

The natural meaning in the English language

Reality

Financial adviser

Refers to a company providing services regulated under the FAA.

The individual providing financial advice.

A salesperson.

Financial advisory Firm

No such terminology.

Refers to a company.

The firm selling products from many …