Many consumers are confused with the numerous and confusing titles financial advisers have. The good news is that you are not alone. The bad news is there is no way to differentiate between the good and the bad.

Currently, almost all representatives are actually salespersons in terms of job function.  That is why consumers are not willing to pay for financial advice and in fact they should not be doing so. The Council for Estate Agents wisely selected the usage of the word ‘salespersons’ to mean the individual property agents. The financial industry will do well by regulating terminology properly.

Despite the majority of the financial advisers acting as salespersons, the industry uses many different titles to confuse the consumer. As a result, many consumers are unable to differentiate between those who are doing sales and those who are providing advisory service. To make it worst, the Financial Advisers ...