Is WiserAdvisor a Scam or Is It Safe? Key Takeaways
• WiserAdvisor is an online platform that lets users search for financial planners.
• There is
no cost to use WiserAdvisor.
• WiserAdvisor has been in business since 1999, so it has a long history.
If you have any concerns about using WiserAdvisor, you have come to the right website. We have researched this company from top to bottom and have some important information for you.
History of WiserAdvisor
WiserAdvisor, Inc. was established in 1998 as an online platform to help consumers find financial advisors. Today, the company is headquartered in Fairfax, Virginia.
WiserAdvisor System
WiserAdvisor is not a financial firm of any kind, such as a bank or brokerage firm. It does not hold
customer assets, and in fact, it does not charge investors anything at all. Instead, it receives compensation from the financial advisors who are recommended to the investors who use the WiserAdvisor platform.
This web-based matching system is the heart of the WiserAdvisor system. Investors go to the
WsierAdvisor.com and search for financial planners who meet entered criteria. If and when they choose one, WiserAdvisor is compensated by the financial planner. The investment advisor could be local but doesn’t have to be as many financial advisors these days can meet with their clients virtually.
WiserAdvisor pre-screens the financial planners on its platform to ensure they meet minimum criteria. Its website hosts a blog and several calculators on retirement planning; these resources are free to use.
Technology
WiserAdvisor uses SSL encryption to protect its users’ information. The company’s website does use cookies, although they are not required. An email address is required to get referrals to local investment advisors. This address is not disclosed to parties other than the recommended financial planners.
Is WiserAdvisor Legitimate?
As already mentioned, WiserAdvisor is not a bank, brokerage firm, securities or futures dealer, or
investment advisor. Because it does not conduct any type of investment business, it is not subject to the
same regulatory environment as a group like
Charles Schwab
or
Robinhood.
WiserAdvisor is a business headquartered in the United States, and this status does mean it is subject to business laws and regulations. These include marketing and advertising laws that are enforced by the Federal Trade Commission (FTC). The FTC also enforces federal privacy laws. Like all other businesses in the United States, WiserAdvisor is subject to these and other business laws.
Visit WiserAdvisor
Visit Wiser Advisor
Is WiserAdvisor Insured?
Because WiserAdvisor is neither a bank nor an investment firm, it does not hold customer assets and therefore does not have SIPC or FDIC insurance. Because it does not receive any money from investors, they have no need to be concerned about insurance for WiserAdvisor.
WiserAdvisor BBB Reviews
A famous organization that monitors companies in North America is the Better Business Bureau, more commonly known as BBB. This outfit grades companies and maintains profiles on them. Here, customers can file complaints, and companies can respond to them.
The WiserAdvisor profile on BBB’s website shows
one complaint in the past three years. It was resolved by WiserAdvisor. There have been no complaints within the past twelve months.
BBB has given WiserAdvisor a grade of A+, which is the highest possible grade from the business analyst. In handing out its grades, BBB uses several criteria. These include:
• Company size
• Number of complaints filed against the business through BBB
• Timely resolution of BBB complaints
• Type of business
• Amount of time in business
• How transparent BBB believes the business is
• Government actions, if any, against the enterprise
No doubt WiserAdvisor received such a high rating based on many of these issues.
WiserAdvisor Trustpilot Reviews
Trustpilot is another company that researches other companies and publishes its findings online. Trustpilot
has a profile for WiserAdvisor, and this profile is a verified profile (meaning that WiserAdvisor has
claimed it).
Out of 314 total reviews, WiserAdvisor has a 4.1 out of 5. More than 40% of the reviews are 5-star reviews, although 13% are 1-star reviews.
Some of the negative reviews mention not receiving matches that were within their local areas, while others claim the matched advisors were too aggressive in their sales pitches. Positive reviews mention good matches with full qualifications and fast turnaround times. The oldest reviews go back to 2015, so there’s a lengthy history on WiserAdvisor’s profile.
Is WiserAdvisor a Scam: Our Conclusion
Based on extensive research, it appears that WiserAdvisor is a legitimate company that provides a useful
service,
especially for novice investors who don’t know where to begin. It has good ratings from multiple sources and has a long history of connecting consumers with financial advisors. Because investors’ money is never deposited with WiserAdvisor, there is little risk to them.
Visit WiserAdvisor
Visit Wiser Advisor
Updated on 1/1/2025.
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