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CSA
Old 09-05-2006, 03:16 PM   #1
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CSA

No, CSA does not stand for Confederate States of America. It is one of a series of phony designations that "investment advisors" attach to their names to impress the uninformed investor that they have achieved a great educational feat. It appears as though all one has to do is fork over $1200, take a test, and speak to a guy in order to be able to tack the covited CSA to your moniker.

http://www.investmentnews.com/articl...rticleId=55721

Last month, Genworth Financial Inc. became the latest company to ban its employees and agents from using the certified senior adviser designation. In a memo to its agents which was obtained by InvestmentNews, officials at the Richmond, Va.-based insurance company cited "regulatory concerns" as the reason why the designation "will no longer be allowed on career agent business cards or marketing materials as an accepted designation" or be part of the company's bonus program.

Terry Lister, the chief regulatory officer for Waddell, said the firm's review of the designation and the materials required to obtain it "led us to believe that there wasn't enough educational substance to the designation."

Waddell, he continued, concluded that the CSA designation was "more about learning how to market to the senior market than learning how to better service seniors' financial needs."
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Re: CSA
Old 09-05-2006, 04:26 PM   #2
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Re: CSA

I dont see what difference it makes pointing this out, since hiring one with any designation makes one a suckor anyway.

An "investment advisor's" primary job is to separate you from a portion of your money and subsequently deposit it in his bank account.
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Re: CSA
Old 09-05-2006, 04:39 PM   #3
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Re: CSA

Quote:
Originally Posted by Azanon
I dont see what difference it makes pointing this out, since hiring one with any designation makes one a suckor anyway.

An "investment advisor's" primary job is to separate you from a portion of your money and subsequently deposit it in his bank account.
Wow, if that isn't a generalization! I work for an RIA firm and will be the first to let you know that I think we do a very honerable job and are good stewards of our client's money. I personally have the CPA and CFA designations which I think are important, but tell you little about the character of the person you are dealing with.

BTW: does hiring a CPA, JD, or MD also make you a "suckor"?
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