Financial Adviser is a generic term as opposed to CPA, CFP, PFS. and RIA that actually require qualification and testing. The regulatory system is a hodge podge of state and federal reporting of transgressions and lack there of so multiple checks are needed before entrusting your money to someone.

Back of the envelope a financial professional will make 1% of assets under management per year. If someone has $7M under management they're making $70,000 per year, enough for a modest house, car, and small wedding.

Consistent gains of 50% per month have never happened in the history of the world, so there's always that.

Quote Originally Posted by Jamie Crawley

According to a document filed March 5, since October 2017 defendant Shawn Cutting represented himself as an experienced financial adviser to raise funds from over 450 investors.

Having no such experience, in fact, Cutting used the $6.9 million to purchase cars, improve his home and pay for his daughter’s wedding.

He also paid hundreds of thousands of dollars in “Ponzi-like payments” while communicating false updates to investors, often describing gains of over 50% in a single month.

SEC Brings Enforcement Action Against Alleged $6.9M Ponzi Scheme
A Guide to Financial Designations

Becoming A Registered Investment Advisor

Personal Financial Specialist (PFS) Definition