Not necessarily.

You should not base your decision to hire a financial adviser solely on their credentials. The Financial Industry Regulatory Authority (FINRA) reports that there are at least 95 different professional designations for financial advisers, but The Wall Street Journal has found 115 others that are not tracked by FINRA.

Before entrusting your money with a financial adviser, look into his or her background and experience. You can use FINRA's BrokerCheck and can also look into the requirements needed to obtain whatever financial credentials they are claiming to possess.

You can learn more by reading our article, The Truth About Financial Designations Revealed.

If you have lost money due to broker misconduct or investment fraud, contact an experienced securities arbitration attorney at our office by calling or filling out our online contact form.