Colson Financial Group, Inc.

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BBB Accreditation BBB Rating Business Contact and Profile Additional Locations and Phone Numbers Licensing Customer Complaint History

Government Actions Advertising Review Industry Tips BBB Copyright and Reporting Policy

BBB Accreditation

This company has been a BBB Accredited Business since May 2005. This means it supports the BBB's services to the public and meets our BBB Accreditation standards.

BBB Rating

Based on BBB files, this business has a BBB Rating of A+ on a scale from A+ to F.

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Additional Locations and Phone Numbers

Licensing

Many local municipalities, townships, and counties have registration, bonding and/or licensing requirements. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Permit and license requirements for regulated industries in the state of Colorado can be viewed at the following website: http://www.colorado.gov/oed/industry-license/

Customer Complaint History

BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period.

Government Actions

BBB has no information regarding government actions at this time.

Advertising Review

BBB has no information regarding advertising review at this time.

Industry Tips

Financial Planners

Consumers look to financial planners to provide objective, knowledgeable advice about managing an important aspect of their lives: their money. Because the field is largely unregulated, however, the title "financial planner" does not guarantee any level of qualifications or expertise. Due to this, consumers need to exercise caution when choosing someone with whom to entrust financial resources.

Recommendations from friends, relatives, and colleagues may be a good first step to finding a financial planner. Carefully consider the education and professional background of prospective planners. Financial planners who hold the designations RFC (Registered Financial Consultant), CFP (Certified Financial Planner), or ChFC (Chartered Financial Consultant) or who are members of the National Association of Personal Financial Advisors have codes on ethics, honesty, and conflicts of interests which they are obligated to uphold.

Once you have selected a prospective planner, schedule a preliminary interview. Question the financial planner about his or her professional background, education, employment history, investment philosophy, and areas of specialization. Ask for the names of recent clients and examples of plans and monitoring reports. Ask if the planner keeps current on financial matters through continuing education and training. Also ask how the financial planner expects to be compensated (e.g., fees, commissions, or a combination of the two) and get a written estimate of the cost for services.

Remember, a good financial planner should help you get a clear picture of your financial situation and lay the foundation for future investment decisions. Beware of planners who offer few or no alternatives in your investment plan, which may indicate the planner's intent to steer you into a fraudulent scheme or sell a specific product for the commission. Similarly, avoid planners who use high-pressure sales tactics or promise unusually high rates of return on investments. Be on guard for possible Ponzi schemes that can masquerade as tax shelters, precious metals, commodities, high-tech stocks, and other investment vehicles.

Further protect yourself against fraud by contacting your BBB and state securities agency to determine if the planner has a background of noncompliance with state and federal laws or a history of complaints.

Investment Fraud

Every year, Americans lose more than a billion dollars to investments that turn out to be fraudulent. Companies engaged in fraud often operate a particular scam for a short time, quickly spend the money they take in, and then close down before they can be detected. They re-open under another name selling another investment scam.

Fraudulent investment promoters are persuasive and resourceful. They may tell you that they have high-level financial connections; that they're privy to inside information; that they'll guarantee the investment; or that they'll buy back the investment after a certain time. To close the deal, they may serve up phony statistics, misrepresent the significance of a current event, or stress the unique quality of their offering to deter you from verifying their story.

The Federal Trade Commission suggests that potential investors can avoid losing their money if they could only recognize a phony sales pitch. Here's what to listen for:

* A "ground floor opportunity" for you to realize a better return on this investment than any other you're involved in.

* Guarantees of big profits in a short time.

* Claims that no risk is involved.

* Lots of pressure to act now because the "market is moving."

In addition, the FTC advises potential investors to:

* Invest in opportunities you know something about. It's unlikely you will make money in a business deal you can't understand or verify. Don't rely on the seller's representation of the investment's value.

* Be skeptical about unsolicited phone calls about investments, especially those from out-of-state salespeople or companies you never heard of. If the deal sours, you may find it very hard to get your money back.

* Get all the information you can about the company and verify the data. Before you invest with any company, check the seller's materials with someone whose financial advice you trust.

* Beware of testimonials. Fraudulent companies sometimes hire references to claim that the firm's investments brought them sudden wealth. Ponzi schemes - where promoters use money from new investors to pay high returns to early investors - may explain the praises.

* If in doubt, don't invest. Before you invest, ask tough questions and get information from a variety of sources. If you can't get solid information about the company and the investment, you may not want to risk your money.

Source: Federal Trade Commission

BBB Copyright and Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Reliability Reports are provided solely to assist you in exercising your own best judgment. Information in this BBB Reliability Report is believed reliable, but not guaranteed as to accuracy.

BBB Reliability Reports generally cover a three-year reporting period. BBB Reliability Reports are subject to change at any time.

If you choose to do business with Colson Financial Group, Inc., please let them know that you contacted BBB for a BBB Reliability Report.

ID: 46002988
Report as of November 8, 2009 01:56
Copyright^© 2009 Better Business Bureau