--- title: How to Spot a Bogus Financial Adviser | TIME description: Liz Davidson has four things to be on the look out for when picking out a financial adviser. canonical: https://time.com/video/lTRFk6r5/ og:title: How to Spot a Bogus Financial Adviser og:description: Liz Davidson has four things to be on the look out for when picking out a financial adviser. og:url: https://time.com/video/lTRFk6r5/ og:image: https://cdn.jwplayer.com/v2/media/lTRFk6r5/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: How to Spot a Bogus Financial Adviser twitter:description: Liz Davidson has four things to be on the look out for when picking out a financial adviser. twitter:image: https://cdn.jwplayer.com/v2/media/lTRFk6r5/poster.jpg?width=720 --- # How to Spot a Bogus Financial Adviser > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: How to Spot a Bogus Financial Adviser [Watch (HLS stream): How to Spot a Bogus Financial Adviser](https://cdn.jwplayer.com/manifests/lTRFk6r5.m3u8) (2:19)  _Published 2016-03-10. Liz Davidson has four things to be on the look out for when picking out a financial adviser._ --- Jul 27, 2023 7:38 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [When Do You Need A Financial Adviser?](/video/fYlB54ci/) ### When Do You Need A Financial Adviser? [Why Your Financial Adviser Should Be a Fiduciary](/video/j6zKcDMW/) ### Why Your Financial Adviser Should Be a Fiduciary [Financial Pundits You Should Tune Out](/video/qnLgnp6s/) ### Financial Pundits You Should Tune Out --- ## Transcript I'm here with Liz Davidson. She's CEO of Financial Finesse, which is a provider of workplace financial wellness programs. She's also author of the book, What Your Financial Financial advisor isn't telling you. Now, one thing a financial advisor might not tell you is that he's a crook. [ LAUGH ] Yes. So how should, are there any warning signs or red flags you can use to figure that out. So this is really important because even though it's a small percentage of advisors who are crooks, a very small percentage, they can decimate Your entire net worth. Some very critical warning signs. If they are generating very high inconsistent returns and the market is very volatile. If it's going up and down. It's going up and down and they're generating these high consistent returns years after year. That just doesn't happen. I know the thing you talked about is financial statements. What should they look like? Where should they come from? They should come from a reputable financial institution called broker of record. But is doing the trading associated with. So it doesn't come from your guy or your gal. It should not. That they were. The appropriate records. You're safer that way. And, also, you say beware of mystery, beware of a secret. Yeah. So I think we are drawn to this idea that there is a secret and maybe our guy or Gal has that secret strategy that no one else has figured out, that can get those consistently high rates of return. The reality is, there really isn't just secret. They're making it up. They're making it up. Okay and then the last thing you talk about is, the sort of like, you said there are red flags, there's flare guns and what is a flare gun of warning you away. If you invest with me, I can guarantee, you will get 12 to 15 percent for the next 10 years because I have figured out a very new investment strategy. But what's the risk? No risk. No risk. No risk, you're guaranteed. Guaranteed returns. So guaranteed returns, no risks. Run, don't walk to the nearest exit. Exactly. Thank you very much Liz Davidson. 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