SACRAMENTO, Calif., Aug. 26, 2010 — Paladin Registry (http://www.PaladinRegistry.com) added three new background checks for financial professionals.
Jack Waymire, founder of Paladin Registry and author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor (ISBN: 0471476994), said, "Paladin's original background checks required advisor authorization. Our experience showed lower-quality advisors do not authorize background checks that would expose omitted, misrepresented, or exaggerated information. They get away with these deceptive sales tactics because they know very few investors validate information in sales pitches. This opens the door to unsavory business practices."
Paladin calls its advisor background check services "FADD" for Financial Advisor Due Diligence. The principal focus of the services is validation for the advisors' competence and trustworthiness – two of their most important characteristics. Waymire commented, "Evaluating the quality of advisors sounds simple, but it's not. Advisors do not provide audited track records and they do not have mandatory disclosure requirements. Investors have to ask the right questions and hope they get honest answers. Paladin's FADD services can help them identify bad or deceptive answers."
For $95 Paladin's lowest-cost service (FADD I(TM)) could have helped investors, who lost billions, avoid the Bernie Madoff scam. This service focuses on advisor ethics by checking licensing and compliance records with national and state regulatory agencies.
FADD II(TM) is an expanded version of the previous service. Additional checks include websites, name searches, the SEC, and other sources of public data.
FADD III(TM) is Paladin's most comprehensive background checking service. Checks include: Education, registrations, certifications, designations, accreditations, compliance record, criminal record, and other information.
FADD IV(TM) is a series of custom checks and validations that are used by investors with larger sums of money. For example, Paladin will check advisor references, track records, FBI records, compensation, expenses, and service agreements.
No advisor authorization is required for FADD I and II, and most FADD IV services. Paladin produces Findings Reports for all FADD results.
About Paladin
Since 2003, Paladin has provided services to investors who rely on advisors to achieve their financial goals. Services include background checks, quality ratings, online documentation for advisor credentials, ethics, and business practices, and a free matching service to five-star-rated advisors. For more information, visit Paladin's website at http://www.PaladinRegistry.com.
Key Contact
Jack Waymire
President
Email
916.253.3334
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