FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. Every decisions made in a business has financial implications, and any decision that involves the use of money is a corporate financial decision. The Certified Financial Consultant (CFC®) designation is essential if you want your level of expertise and technical knowledge to be recognized among your peers, employers, clients and partners. It is designed with focus on the commercial practical and technical skills by major corporate and financial clients and investors. The threshold for working with an automated financial advisor is much lower than traditional human financial advisors.
The CFC designatory letters are awarded to those who have proven that they have met the requirements through their studies and experience set by the Institute of Financial Consultant (IFC) based in CANADA, the largest professional body of practicing financial consultants in the world with over 8,500 members in over 17 countries to date. The Jamberry Nails Consultant Kit comes with a replicated free website for three months, a selection of Jamberry Nail shields, a hair dryer, nail files, consultant guide, catalogs, brochures, business cards, order forms, and other business tools.
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In fact, one might applaud the depth of relationships between financial advisor and client that results from a trust-based, relationship-cultivation process. The fiduciary becomes bound by fiduciary duties of due care, loyalty and utmost good faith to the entrustor (the client” in our context of investment or financial advice). Somewhere along the way, the practice consultants omitted to tell the financial advisors that trust-based selling” – designed to achieve a relationship of trust and confidence – results in consumer confusion, at the minimum. More importantly, trust-based selling increases the likelihood of fiduciary status for the financial advisor, applying state common law.
This is true regardless of how the financial advisor is licensed or regulated (whether as a registered representative of a broker-dealer firm, investment adviser representative of a registered investment adviser firm, dual registrant, or even just a life insurance agent). The initial investment required by automated financial advisor firms ranges from as little as $100 to as much as $10,000.