Yes. Anyone can be paid for giving personal financial advice, but only as long as the advice does not include investment advice on securities. Personal financial advice on budgeting, managing debt, improving credit scores, and more can be offered for a fee.

Can you sue someone for giving you bad financial advice?

In theory, if you have lost money because your broker (or any financial institution) gave you bad advice, mismanaged your investments, misled you in any way or did various other unlawful and ethical things, you can sue for damages. No matter how good the case, the road to financial damages is a rocky one.

What did I say to someone about financial advice?

I had no data to back up the claim, it was purely an observation made on anecdotal evidence. I told him that most people I know who are living in debt seem to carry a monthly car payment. That’s when he offered the financial advice above in the form of his own personal interactions.

How did my financial adviser change my life?

Their example and their wisdom have shaped me in every way—including my financial practices. Here are seven specific ways. 1. “Most people who overspend their income do so in one of three ways: 1) Too much house, 2) Too much car, 3) Too much entertainment.” // Financial adviser, 2008.

What did the financial adviser say about overspending?

1. “Most people who overspend their income do so in one of three ways: 1) Too much house, 2) Too much car, 3) Too much entertainment.” // Financial adviser, 2008. I made a passing statement to a financial adviser friend of mine one particular evening over dinner.

When do you seek out a financial advisor?

Most people first seek out advisors when they have specific financial concerns. Those concerns should be addressed. That’s not to say that other issues won’t be uncovered, but remember this is about you. So you should be the focus.