Why you need to Trust and Verify is a slight variation to what former President Ronald Reagan said, “Trust BUT verify.” This was, of course, during the Cold War. The BUT that he mentions was directed at the Soviet Union, now known as Russia.
It is hard to fathom any communications that has the words Trust and Russia in the same sentence.
Before we expand on this, here are 6 Easy Ways a Financial Advisor Can Add Value.
The reason for changing the but to and is highlighted by the recent Certified Financial Planning Boards Study. This was released on June 10, 2025. It is called Steering Clear of Financial Misinformation: A Survey of Americans.
The reasons for this are apparent.
First is access. Approximately 91% of Americans have a smart phone. 1)
Second is usage:
The average American spends over 4 hours a day on their smart phone. 2)
Let that sink in.
The American Academy of Pediatrics ‘recommends’ no more than 2 hours a day. That even blows me away. If you sleep 8 hours a night, that means you are awake 16 hours a day. If you are ‘only’ spending 2 hours a day on your phone, that is 12.5% of your waking hours (2/16=12.5%).
Even the late Steve Jobs, Co-Founder of Apple and his wife limited the amount of screen time their children had back in the day due to its addictive nature.
For me, the good news is, unlike when I walk into a room and bring UP the average age, I am happy to report I am BELOW the average on smart phone usage.
Third is age. Younger folks are very heavy users of their smart phones. They grew up with them.
Fourth is the biggest allergy known to humanity, laziness. Hence the AND verify.
The top 3 websites that respondents said they get financial information from is:
You Tube – 63%
Facebook – 45%
Instagram – 40%
If you want reasonably accurate financial information, consider changing where you are looking. These sites are great if you need to figure out how to change that burner in your gas grill, see dated pictures from your long-lost cousin and get the best recipe for mac & cheese.
True confessions, I am biased, but I just disclosed that to you.
Look at raymondjames.com.
Don’t take my word on this.
Here is the AND Verify part.
It was clients who inspired us to partner with Raymond James. And now clients have shown us it was the right decision.
In the J.D. Power 2025 U.S. Investor Satisfaction Study, respondents rated Raymond James number one for Advised Investor Satisfaction, and also rated Raymond James number one across other categories, including product offerings, people and, most notably, Most Trusted.
Putting clients first has been the firm’s central value from the beginning, so it’s a particular honor to have been put first by clients. We’re proud of the firm, proud of the recognition and proud to keep making decisions with you in mind.
Meet a firm where people are the priority
Tom Scanlon.com
Thomas Scanlon, CFP
Financial Advisor
(860) 645-1515
Thomas.scanlon@raymondjames.com
391 Center Street
Manchester, CT 06040
J.D. Power 2025 U.S. Investor Satisfaction Study, which measures overall investor satisfaction with investment firms, was released 3/20/25, based on investors surveyed 1/24-12/24, who may be working with a financial advisor. Based on 7,876 responses from Advised Investors, 1 company out of 24 was chosen as the winner. The award is not representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. The study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. J.D. Power is not affiliated with Raymond James.
For J.D. Power 2025 award information, visit jdpower.com/awards.
Action Item
Assess what you are looking to accomplish financially. Then, look at how you think you want to accomplish it.
If you need help with Why You Need to Trust AND Verify Online Financial Advice, give us a call at (860) 645-1515 or E-Mail Thomas.scanlon@raymonjames.com.
This is original content written by Manchester, CT Financial Advisor, Thomas Scanlon, CFP®, CPA.
1) Pewresearch.org – November 13, 2024
2) Okwnews.com – February 10, 2024
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that is accurate or complete, it is not a statement of all available data necessary for making an investment decision, it does not constitute a recommendation. Any opinions are those of Thomas F. Scanlon and not necessarily Raymond James.
Every investor’s situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.