In the 1980s, the joke about financial planners was that you could tell the successful ones by the size of the fountain in the lobby and the plaques and commendations on the wall.
The Securities and Exchange Commission this week threw water on most of the plaques, and urged consumers to recognize that the financial services worlds is filled with a small-but-persistent pack of fraudsters using pretentious jargon, bogus credentials and flat-out puffery to impress clients and/or victims.
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