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How Experience Compared to Credentials Wins Over Clients

Posted on 07/18/2014

According to the article, giving credentials such as “certified financial planner and certified investment management analyst” to a potential client may go right over their heads, as most are not familiar with those terms. Which is why Mr. Garman, the founder and chief investment officer of Mirador Capital Partners in Pleasanton, Calif., says that “such designations are unfamiliar to most people, and thus not all that effective in gaining new business.”

The article goes on to say, “…while the certification courses and continuing-education requirements can help advisers to understand certain principles and practices, several advisers say their worth is clearly trumped by work experience.”

Mark Gajowski, CFP, CLU, CEBS founder and CEO of magii, one of the prominent wealth management firms in New York, disagrees, saying, “Being a certified financial planner means more than just having the knowledge to pass the two-day, ten-hour exam. It is important to acquire the requisite years of experience. This gives a CFP certificant, for example, a broad 360-degree view of a client’s financial life. Bringing both experience and credentials together makes for the best of both worlds.”

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