For the minority of financial planners, the leaders, who have legal coverage, to protect themselves and their clients, who are honest, responsible, qualified, dedicated to their client's best interest, and who do not lie, cheat, have "big mouths," or fit the "Hi-Lo-Lie" Profile.  Each day these non-clowns act in the best interest of their clients.

There is no other industry in America, or in any country, where a clown (or a hustler) may have millions of other people's dollars under management.  Nor is there another specialty discipline where a clown (or a hustler) may direct the investments of millions of dollars of other people's money.

Today in America, billions of dollars are actually controlled by people you would consider to be clowns (or hustlers) if you knew them better!  The majority of these clowns are not funny.  This book is essentially the terrible truth about financial planning today!  Most often these clowns are self-centered, irritating, big-mouth, unqualified, liars, who are first and foremost salesmen of some financial products and services.  If this sounds cruel or unfair then you will be alarmed to learn that ... 

Though an estimated 80% of the financial products and services sold each year in the USA are sold by approximately 20% of the financial professionals, it is not at all unusual for clowns to break into the 20% of top producers.  With skilled media promotion and image branding , i.e., press coverage, radio appearances, TV exposure, seminars, books, direct mail, etc., even clowns can become highly successful as financial planners.  When clowns "score big" in a market area it is usually because … 

The facts revealed in this book are so alarming they tend to obliterate notice and appreciation of the approximate 20% (or less) of financial planners who are outstanding, commendable, qualified, and work hard and wisely for their clients.  That these sensational exposures should overshadow this 20% (or less) is both unfair and unfortunate.  These "good guys" can be identified by …
   
As you go through the following pages you will sense that some of the 80% (or more) that fall within the "Hi-Lo-Lie" profile are busy now creating rebuttals to this work.  They will challenge, condemn, attack, and attempt to disprove or discredit this content or the author.  Their efforts will be mainly to assert or assure their commendable status, less they become exposed and consumers learn how to identify them among the clowns.  Before I finished writing this volume I received messages from a few financial advisors assuring me that I was a "mean spirited bastard," or a "scum-sucking SOB," and that …       

Financial professionals, advisors, and planners, can all be separated into two basic groups.  The problem is, the consumer is not equipped with an accurate screening device.  This is very important, because their financial success and security, and that of their family, may depend on selecting (and trusting) the worthy financial advisor.  The purpose of this book is to help you distinguish the "good guys" from the clowns and the less-worthy, and to help you avoid those who are actually dangerous and could harm you even if… 

Financial planners may use many titles.  Some call themselves by the generic term "financial planner."  Others use designations (their are now over 100, see page 118), as if these were job titles.  They might say, "I am a Certified Financial Planner," or "I am a Chartered Financial Consultant," or "I am a Registered Financial Consultant."  Each of these is a noteworthy professional designation.  But many other designations are worthless. There is no guarantee that the person claiming any designation actually holds the designation claimed, or truly practices in the best interest of their consumer clients.  In many cases there is no guarantee that the designation was earned through appropriate educational accomplishments.  As shocking as this reality appears, the truth is…

And there are many-many more types of financial planning operatives.  Those financial planners claiming other titles might say, "I am a Christian Financial Planner."  Or, "I am a Fee-Only Ethical Financial Planning Advisor," or I'm a Gay And Lesbian Financial Planner."  Or, "I'm a Master Financial Planner."  Or, "I am an Athletes Financial Coach."  Or "I am a Commissioned Personal Financial Planner."  Or, "I am a Financial Planning Engineer."  Or "I am a Senior Financial Planning Consultant."  Or "I am a Financial Advisor."  Or "I am a Financial Professional."  Or "I am a Wall Street Investment Analyst."  Or "I am a Registered Brokerage Consultant."  Or "I am a Rollover Specialist."  And there are many additional "positioning" for sellers of financial products.  I know one "planner" who calls himself a "Personal Money Investigator."  He will investigate how you manage your money and investments then make recommendations to you.  Of course what he really does is…

The good and worthy financial planner may go by any title or use any nomenclature.  But the good and worthy financial planner clearly demonstrates total adherence to three unique characteristics that are defined by the "Lo-Hi-TC" Profile.  The "Lo-Hi-TC" Profile embodies …

Terrible Truths About Financial Planning® is influenced by this writer's observations and experiences acquired over 25-years while working as a financial journalist and investigative reporter covering the still evolving financial planning profession since it's inception.  This treatise also reflects my biases acquired as former editor of Trusts & Estates: The Journal of Wealth Management, and as Editor-In-Chief of Financial Planning Magazine, and as an Editor for Advisor Magazine.  The financial planning profession is presently growing very rapidly -- but the independent financial planners are now threatened with elimination by the banking industry and by major Wall Street brokerages.  American history shows us that the most moneyed interests are capable of continuing to purchase any federal or state laws they desire.  Laws that enable them to exploit the public!  The planners have done a pathetic job of protecting their specialty discipline.  Many people believe banking and/or Wall Street should "take over" financial planning because of the many clowns (and hustlers) now in this profession.  Some consumer advocates even insist …   

For the first time ever, there are shocking exposures and alarming facts revealed in the following chapters! You should consider these findings carefully before you invest your first dollar or before you invest another dollar.  Possibly you should …