Who is allowed to give financial advice and what qualifications do they need?

I was given advice on my pension by a human recources advisor at a company where I worked in 1997. This advice turned out to be wrong and over the years has cost me a considerable sum of money. Is there anything I can do to get some form of compensation? To my knowledge the HR advisor in question holds no qualifications in pensions or financial advice.Who is allowed to give financial advice and what qualifications do they need?
you should check with an attorney as to your rights in this case- if the advise was given verbally as opposed to in writing- it might be more difficult-yet, only an attorney would be sure about that..CFP's- Certified Financial Planners can give financial advice-they have passed rigid exams in ten different areas to get certified-CPA's can also give advise-some have an additional certification in financial planning--CLU's- Chartered Life Underwriters know about pensions and insurance and annuities- they have passed ten tough exams also to get their designation---unfortunately EVERYONE THINKS THEY CAN ADVISE OTHERS- YET FEW ARE QUALIFIED TO DO SO, BY EDUCATION, TRAINING, AND EXAMS %26amp; CERTIFICATIONS--unfortunately that lack of qualifications does not stop people from rendering opinions and advise--sorry you have this problem- i believe an attorney could spell out any recourse you might have better than anyone else !!! I am a retired Independent Insurance Broker, %26amp; CFP %26amp; CPA %26amp; LUTCF ..good luck to you- if i can be of further help-holler back at me !!Who is allowed to give financial advice and what qualifications do they need?
It's going to depend greatly on what they advice was.





If they told you to put your money into XYZ Money Market fund, and it crashed along with everything else during 9/11, then you don't have a prayer. Investing always has it's risk.





When it comes to advice, you get what you paid for.





I know many people who invested their retirement buy-outs several years ago, expecting to get $2000 a month in income. After 9/11, their investments crapped out, and they are lucky to receive $300. They were forced to go back to work.





Investments are never a guarantee!
I think you've learned the hard way that you have to be careful about who you get financial advice from. Unfortunately, I don't think you have any kind of case against this individual.

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