Buddy from Charles in Charge becomes a Broker!

This story makes me laugh, but then it annoys me.  Financial Planning Magazine deemed it newsworthy that the guy who once played the sidekick to Charles, played by Scott Baio, on the 80s sitcom, Charles in Charge, has become a Financial Planner.

Actually, from the story, it appears that he is becoming a broker.  The difference is important, but sadly not recognized by a magazine called Financial Planning Magazine.  You see, he is going to work for the brokerage firm, Wadell & Reed.  Not that working for a brokerage firm precludes you from being a financial planner, although I would argue that it severly limits your ability to do so.

Additionally, the article quotes a Wadell & Reed spokesperson as saying, "He’s passed his Series 7, he’s passed his Series 6, he’s passed his health and life examination. He was just activated at the beginning of this month. He is now trying to build his own financial planning practice."

The problem is that those are broker and insurance agent licenses.  It is a license to SELL securities, mutual funds, insurance and annuities.  It doesn't give you any training, knowledge or ability to provide actual financial planning services.

But this is a good story.  I applaud Aames for turning his life around.  He has gone through some really difficult periods, including bankruptcy, homelessness, attempted suicide, not to mention having to be "the guy who was the sidekick on Charles in Charge."

Comments

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That's hilarious that the Charles in Charge sidekick is hawkin' insurance and securities. Who knew? Maybe this will lead to Scott Baio becoming a real estate agent.

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Great, just what our profession needs: more people confusing the general public over the difference between a financial planner who actually does PLANNING and a guy who is a personal mess hawking insurance.

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