3 Financial Pitfalls You Can Help People Avoid as a Financial Planner

(StatePoint) Financial missteps can have devastating consequences for individuals and families.

As an advisor with CERTIFIED FINANCIAL PLANNER ® certification, here are three common financial pitfalls you can help your clients avoid:

Bad online advice: A recent CFP Board survey finds that 3 out of 4 Americans seek out financial information online at least once a month. Unfortunately, a lot of this information is misleading, incorrect and even harmful. The survey uncovered that 39% of Americans have lost $250 or more because of bad advice, and 18% have suffered losses over $1,000.

Following bad advice can have long-term consequences and disrupt financial futures. Younger generations are particularly likely to view social media, podcasts and generative artificial intelligence (AI