As I type this, I’m sitting in the Atlanta airport, after a day of board meetings for the National Association of Personal Financial Advisors (NAPFA).  Long ago and far away, I was privileged to serve in the U.S. Army Special Forces.  One of my best memories is being one of the best.

NAPFA gives me that feeling again.  To be a registered investment advisor with them, you have to be a Certified Financial Planner professional.  And, you have to be experienced!  And, you have to show a real financial plan, so they can examine your work.  And, they review an advisor’s regulatory filings to make sure his record is clean.  Are you tired yet?

In addition, you cannot charge any commissions.  In addition, you cannot charge any hidden fees.  Everything has to be “on top of the table.”  Now, here comes the big one:  it doesn’t sound big, but it is!

A NAPFA-Registered Financial Advisor has to act in the best interests of the client.  He has a fiduciary responsibility to his client.  It is not good enough to give merely “suitable” advice to a client.  Now, why would anybody use a stockbroker??

Anyway, that’s enough bragging . . . I’m just proud to be part of NAPFA.  In fact, when I get home tonight, I may get out my old Green Beret and wear it to bed.