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Beta Test Williamsburg , Virginia, April, 24, 2009 FOR IMMEDIATE RELEASE April 24, 2009
AdvisorRating.com is an independent and unbiased rating company that issues ratings for Financial Advisors on a national basis. AdvisorRating.com has just announced that stage one of its data base testing has gone live, though currently unavailable to the public, and is on track and on schedule for the spring 2009 rollout. At this time the financial AdvisorRating©s are still done via email by administrative staff during the beta testing process, but the expectation is to be fully automated with a “Dynamic” data base interacting with the “Static Website” in a seemless fashion.
The AdvisorRating.com service is free to the public and will provide the capability to search for any Financial Advisor in the country and view the advisor’s rating. Ratings range from zero to five stars with five gold stars being the highest achievable rating.
The Director of Membership at AdvisorRating.com, said "This will be a significant technologically feat that no one has ever done in the industry before." Mr. Johnson also said "When you think about the different types of systems that have to talk to each other and still have the capability to store and score hundreds of thousands of searchable, scoreable names in real time and in a secure fashion, well its quite a feat. I've got an incredible team."
When asked about competition, Mr. Johnson stated "The problem with any potential competitors that I have seen is that they are financial sales vehicles selling investor information or they are they violate SEC rules or they have the wrong business model. We are truly a Blue Ocean business".
Advisor ratings are calculated based on professional designations that are held, professional licenses, years of experience, customer complaints, background checks, education and six other categories. All of the information is placed into a copy-written formula that produces a very accurate assessment of a Financial Advisor’s skill set, which will be available to by anyone for free. The site is expected to draw thousands of investors a month looking for qualified, Financial Advisors.
A recent survey printed in the Wall Street Journal shows that as many as 81% of investors plan on changing their financial advisor in 2009. In the wake of the Madoff scam, the financial meltdown and the concern over the legitimacy of many financial designations, this new AdvisorRating.com service could prove invaluable to investors searching for a new financial advisor.
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