Millions of viewers tune into CNBC’s Suze Orman Show look to her for financial advice and money tips, but the problem is she’s not qualified to speak on anything pertaining to financial matters. The fact that CNBC would allow someone like her to have a show on the air when she’s not qualified to speak about financial matters and there are 5 sound reasons as to why Suze Orman is not qualified to speak on financial matters. These reasons are logical because this is something that should be best left to a qualified and trained financial adviser or manager. Below are the 5 reasons as to why Suze Orman is not qualified, certified, or licensed to discuss any financial or legal issues surrounding someone’s money or financial affairs:

1. Suze is NOT a certified and/or licensed financial analyst such as a stockbroker, accountant, financial planner, or financial manager.

2. Suze’s undergraduate degree is in social work-HAS ABSOLUTELY NOTHING TO DO WITH FINANCES.

3. Much of the information she talks about on her show is stuff that a financial planner would tell to their own clients. Plus it sounds like she gets her stuff off the internet and tweaks it so that it sounds like she did her homework to the capacity of an accountant, financial planner, or stockbroker.

4. She’s not a licensed attorney to advise people of legal matters or to advise on legal documents when it comes to financial matters.

5. She isn’t qualified to advise people on how they should handle things like their 401k’s and other types of financial accounts. If people are having questions about that this is where they need to consult with firms like Edward Jones, Vangard, and other financial firms that deal with long term investments. It’s those people who average Joes should be talking to since they’re licensed and certified to speak to you about financial investing and some of them are lawyers so they can advise you legally of what you can do to protect your finances.

It’s funny how Orman thinks she’s the know it all about money when in fact she’s not and for someone with a social work degree she’s in the wrong job field. She needs to check the definition of what someone with a social work degree can do. It bothers me when you have people like her trying to sound as if she’s got buku knowledge about the financial world when there’s a show on CNBC called Fast Money and all the people on the show are actual financial analysts, accountants, financial planners, and financial managers who are certified and licensed in their field to speak and advise people on financial matters. Jim Cramer host of Mad Money worked in hedge funds for 20 years and is a lawyer so he can speak about money and advise on legal matters. The deal with her is that she needs to watch how she advises people because if someone took her advice and applied it to their own financial situation and they end up losing their money she could get sued for misrepresentation and knowing she’s got NO license or credentials to make her a trusted expert in the financial field this puts her at a risky advantage because much of her information both financial and legally sounds like it came from the internet.

Much of what Orman talks about on her show is stuff you can actually research yourself and this time have the actual discretion of using it on your own or combining it with the advice of a qualified and licensed financial analyst or manager. This is more of a liability issue as well because financial analysts and those who work in financial and securities trading are protected with insurance and other things, but giving the fact that Suze Orman is not a licensed financial professional to advise anyone on financial and legal matters surrounding a person’s money.  Anyone who watches her show should only consult with a licensed and certified accountant, financial planner, and financial analyst. Also make sure that person has educational credentials such as a degree(s) in finance, economics, accounting, and business. This also applies to graduate level degrees as well because that tells a person the person who’s going to advise them on how to spend, save, and invest their money has the educational background to say they are an expert in the field of finance.

Never trust someone with a social work degree to advise you on your financial life that’s something you can educate yourself on with a trusted financial expert who is licensed and has the credentials to back up their level of expertise. This is becoming a growing trend of people who are making millions of dollars on something they have no qualifications to speak on and puts not only themselves at risk for lawsuits, but it also makes those who actually work their careers in the field harder because they have to make themselves stand out so people know they’re qualified to speak on the area of expertise.

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This entry was posted on Monday, October 27th, 2008 at 3:11 am.